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Chinese Tesla rival Xpeng tanks 12% after wider-than-expected loss and weak car delivery guidance

by Editor August 24, 2022, 10:22 am 1.3k Views

Chinese Tesla rival Xpeng tanks 12% after wider-than-expected loss and weak car delivery 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…

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