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Chinese EV maker Xpeng expects cost cuts, Volkswagen deal to narrow losses

by Editor August 21, 2023, 12:28 pm 2k Views

Chinese EV maker Xpeng expects cost cuts, Volkswagen deal to narrow losses

A XPeng Inc. G6 electric sport utility vehicle (SUV).

Qilai Shen | Bloomberg | Getty Images

Xpeng expects cost cuts and its Volkswagen partnership to narrow the firm’s losses, the Chinese EV maker told CNBC in an exclusive interview on Monday.

On Friday, the firm logged its biggest quarterly loss since its U.S. listing in August 2020. Its second-quarter net loss was 2.8 billion yuan, larger than the 2.13 billion yuan loss expected according to a…

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