Xpeng (XPEV) shares tank after weak electric vehicle guidance


Xpeng said it is confident that the launch of the G9 SUV in September along with two new car launches in 2023 will help it enter a growth cycle.

Chen Yihang | Visual China Group | Getty Images

Xpeng’s Hong Kong-listed shares plunged more than 12% Wednesday after the Chinese electric vehicle maker reported a wider-than-expected loss for the second quarter and weak guidance on deliveries.

On Tuesday, Xpeng reported a net loss of 2.7 billion Chinese yuan ($403.2 million), wider than the 1.6 billion yuan expected according to Refinitiv consensus estimates.

The Guangzhou, China-headquartered company also said it expects to deliver between 29,000 and 31,000 electric vehicles in the third quarter,…


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