Chinese Tesla rival Xiaopeng wants to sell half of its cars overseas

Beijing-China’s electric vehicle start-ups Xiaopeng Brian Gu, vice president and chairman, said on Wednesday that it plans to become a global automaker, with half of its cars delivered to countries outside of China.

“As a company focused on global opportunities, in the long run, we want to maintain a balance with our delivery contribution-half from China and half from outside China -” Gu said in an exclusive interview with CNBC’s Arjun Kharpal.Squawk Box Asia.”

Gu did not provide a specific time frame for achieving this goal.

In contrast, the U.S. Tesla It said in the third quarter that its domestic market accounted for 46.6% of total sales.

China Accounted for 22.6% of Tesla’s total sales, Which is less than 20% higher than a year ago. Elon Musk’s automaker has opened a factory in Shanghai and will begin delivering locally-made cars before the pandemic begins in January 2020.

Gu said that Guangzhou-based Xiaopeng will invest more in the international market this year and next year, and is expected to enter Sweden, Denmark and the Netherlands next year.

Xiaopeng Motors started shipping cars to Norway in December 2020. Other Chinese automakers have focused their initial overseas expansion on the country, where government incentives support local demand for electric vehicles.

Chinese startups listed in the U.S. Wei Lai Opened a flagship store in Oslo and started delivering cars locally in September.

BYDWith the support of American billionaire Warren Buffett, Start shipping electric cars to Norway this summer, And plans to deliver 1,500 cars there by the end of this year. Last week, BYD said that after similar expansions in October to Brazil, Mexico, Colombia, Uruguay, Costa Rica and the Bahamas, it began delivering products to the Dominican Republic.

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