Chinese EV bellwether Xpeng saw fourth-quarter sales soar to a record high before Tesla slashed price of its Model Y

• The Guangzhou-based carmaker said revenue between October and December soared by a massive 345 per cent from a year earlier to 2.85 billion yuan
• Tesla took the wind out of domestic EV makers’ sails when it knocked 30 per cent off the price of its Model Y at the start of the year