$XPeng Inc.(XPEV)$ In the last 6 years over 400 EVs companies in China file bankruptcy,Xpev is a very small player with very low sales. They overpromise and underdeliver for 10 years already. They have a very small market share in China and they are promising factories in Europe. Some people needs to believe them because they are losing sometimes a lot of money and they hope new buyers will help them recoup their money. It’s not a good time to be invested in any company from China unless you hate money.Tesla sold 50K EVs in Canada made in China , BYD sold 60K cars in Canada made in China, if they have an oversupply of cars, they are going to reduce prices in China and force the other companies to do the same. Less profits means less growth for all EVs in China. Brasil also announce that they are going to raise tariffs on EVs from China from 18% to 35%. Too much competition going on in this market, small players are not going to survive.
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