Automaker XPeng (HKG:9868) is exploring its options ahead of the European Union members' vote on Friday that could impose up to 45% tariffs on Chinese electric vehicles, Bloomberg News reported.
"We're looking at multiple options, ranging from contract manufacturing to working with existing plants, or even thinking about [new] plants," the news site cited Brian Gu, vice chair and co-president of the automaker, as saying.
Gu added that besides side-stepping tariffs, XPeng aims for a "more local team to build a more local brand, and also have more local presence," according to the report.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
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