XPENG Motors to expand its footprint in Europe in 2024
Chinese smart EV company XPENG Motors (XPEV) will spread its business and strengthen its hold in Europe, including Germany, Britain, and France, in 2024, president Brian Gu told reporters at the IAA Mobility motor show in Munich.
This will begin with the introduction of the XPENG P7 sports sedan and the XPENG G9 SUV. The company will distribute its G9 and P7 EVs into Israel starting early next year and will offer the G6 as its first right-handed model.
The Chinese automakers are facing a margin squeeze due to ongoing price wars at home, so expanding to new markets could potentially provide some aid. However, EV sales picked up in Southeast Asia and South America, but European markets remain strenuous for Chinese EV makers.
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- VivianChua·2023-09-23Nice 💚 💚 💚LikeReport