China’s Xpeng to Enter Southeast Asian Auto Market
Dou Shicong
DATE:  Mar 26 2024
/ SOURCE:  Yicai
China’s Xpeng to Enter Southeast Asian Auto Market China’s Xpeng to Enter Southeast Asian Auto Market

(Yicai) March 26 -- Xpeng Motors said it will start selling cars in Southeast Asian markets in the third quarter of this year, the latest move by the Chinese electric vehicle startup to expand overseas.

Xpeng signed a long-term partnership agreement with Thai auto dealer Neo Mobility Asia at the Bangkok International Motor Show in Thailand today, the Guangzhou-based company said on WeChat. The firm has also inked deals with Singapore’s Premium Automobiles and Malaysia’s Bermaz Auto, it added.

Xpeng will release a right-hand-drive version of its G6 sport utility vehicle in Thailand, Singapore, and Malaysia, the firm noted, adding that the new partnerships will help with this process. Deliveries are also set to begin in the third quarter.

The G6 went on sale in China in June last year priced from CNY209,900 (USD29,080). The model will be an important part of Xpeng’s efforts to develop overseas markets, founder and Chief Executive He Xiaopeng said at a press conference for the firm’s earnings results on March 19.

Xpeng has been moving faster to enter overseas markets this year. Last month, it said vehicle deliveries would start in the second quarter in the United Arab Emirates, Egypt, Azerbaijan, Jordan and Lebanon. Before that, the firm had entered European markets, including Denmark, the Netherlands, Norway and Sweden.

Xpeng delivered 141,601 new vehicles last year, a 17 percent increase on 2022. Its net loss widened 14 percent to CNY10.4 billion (USD1.4 billion), while revenue jumped 14 percent to CNY30.7 billion, according to its annual financial report.

Editor: Tom Litting


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Keywords:   Xpeng,Southeast Asia