The Xpeng P5 on display at the Auto Shanghai 2021 motor show. Photo: EPA-EFE
The Xpeng P5 on display at the Auto Shanghai 2021 motor show. Photo: EPA-EFE

Tesla rival Xpeng reports sevenfold rise in sales revenue as demand for electric vehicles in China soars

  • The electric car maker reported US$450.4 million in sales revenue in the first quarter, a massive leap of 616.1 per cent from a year earlier, and better than forecasts
  • The results mark a high-water level for the seven-year-old company, which listed in New York last year, and produced its first electric car in 2018

The Xpeng P5 on display at the Auto Shanghai 2021 motor show. Photo: EPA-EFE
The Xpeng P5 on display at the Auto Shanghai 2021 motor show. Photo: EPA-EFE
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