21
Mar
06:56
XPeng posts widened net loss for 2023
Chinese EV company XPeng confirmed its 2023 financial performance saw a wider net loss at CNY 10.38 billion ($1.44 billion), compared to CNY 9.14 billion in 2022, Kallanish reports.
Its official financial report published earlier this week also shows that in 2023, vehicle margin became negative and reached -1.6%, from 9.4% in 2022.
The manufacturer attributed the loss to “increased sales promotions and the expiration of government subsidies for new energy …
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