Xpeng Fell over 6% in Premarket Trading after It Hiked the Price Of Electric Cars
Tiger Newspress2022-03-21
Xpeng fell over 6% in premarket trading after it hiked the price of electric cars.
Chinese electric vehicle maker Xpeng will hike the price of its cars citing a sharp rise in the cost of raw materials.
Xpeng said from Mar. 21, price increases on its vehicles will range from 10,100 Chinese yuan ($1,587) to 20,000 yuan before subsidies. The company did not give a breakdown of the specific price rises for each of its models.
Xpeng currently sells the flagship P7 sedan, the P5 sedan and the G3 sports utility vehicle. It is gearing up to launch the G9 SUV later this year.
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