Xpeng Forecasts Record Q4 Deliveries Despite Widening Losses

New discounted models, including the G6 SUV, gain traction among drivers amid fierce competition in the EV market

Xpeng, a Chinese electric vehicle (EV) maker, predicts record fourth-quarter deliveries, expecting to hand between 59,500 and 63,500 vehicles to customers, marking an all-time high for the company.
The company's new models, particularly the G6 SUV, are proving popular with mainland drivers, especially as many are being offered at a discount.
Despite the positive outlook, Xpeng reported a net loss of 3.89 billion yuan (US$537 million) in the third quarter, much greater than the 2.8 billion yuan loss in the previous quarter.
The company's operating loss widened due to costs stemming from a production ramp-up, with the third quarter operating loss standing at 3.16 billion yuan (US$436.33 million).
Xpeng is facing fierce competition in the EV market, not only from other Chinese EV makers like Nio and Li Auto, but also from Tesla, whose Model Y is seen as a rival to Xpeng’s G6.