BEIJING (Reuters) – Chinese electric vehicle (EV) maker Xpeng Inc said on Monday its net loss in the fourth quarter last year narrowed 42% compared with the same period in 2019, as EV sales increased in the world’s biggest car market.
New York-listed Xpeng said its net loss attributable to ordinary shareholders was 787.4 million yuan ($120.7 million) for the fourth quarter of 2020, compared with 1,354.6 million for the same period of 2019.
The maker of the P7 sedan and the G3 sport-utility vehicle is planning to build a third car plant in China. Xpeng, which sells mainly in China and competes with Tesla Inc and Nio Inc, delivered 12,964 vehicles in the last three months of 2020.
($1 = 6.5292 Chinese yuan renminbi)
(Reporting by Yilei Sun and Brenda Goh, editing by Louise Heavens)
