Renowned electric vehicle manufacturer from China, Xpeng, is determined to expand its global presence, and Mexico seems to be its next stop, right in the United States’ backyard. This move comes amid strong resistance from U.S. automakers to prevent Chinese manufacturers from selling cars locally.
Xpeng aims to double international sales this year and increase its global sales to contribute 20% of its revenue. With the launch of its G6 and G9 models in Mexico on March 25, Xpeng is on the path to achieving an important milestone in Q1.
In addition, Xpeng recently announced its first profitable quarter in the fourth quarter of last year, shattering all projections. Revealing the brand’s Mexico project, Xpeng founder and CEO, He Xiaopeng, said during the company’s post-earnings call:
“The brand will officially launch in Mexico at the end of March, introducing the G6 and G9 to deepen its presence in Latin America.”
In the next four years, Xpeng aims to generate 70% of its revenue from international sales. But will the American market be a key contributor to its revenue by 2030? There is significant resistance from automotive groups in the U.S., which recently wrote a letter to President Donald Trump, urging him to block the potential entry of Chinese automakers.
Click here to read the complete, original article by Saajan Jogia on Motor Biscuit
Source: Motor Biscuit
