Chinese EV maker Xpeng to break even later in 2025, president says

Reuters11-20 16:24

SHANGHAI, Nov 20 (Reuters) - Chinese electric car maker Xpeng 9868.HK is expected to break even sometime later in 2025, its President Brian Gu said, betting on strong demand for its new models and a steady overseas expansion to improve its profitability.

Xpeng's investment in artificial intelligence technologies including computing power and software development will grow steadily next year to be a "large chunk" of its overall R&D spending, Gu said in an interview with Reuters on Wednesday.

The company is also in discussions with "dozens" of players in the auto industry on smart driving collaboration, he added.

(Reporting by Zhang Yan, Brenda Goh; Editing by Himani Sarkar)

((Zoey.Zhang@thomsonreuters.com;))

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