24
May
08:26
XPeng reduces net loss, boosts profit margin in Q1
Chinese electric vehicle company XPeng Motors has narrowed its net loss and increased its profit margin during the first quarter of the year, Kallanish learns.
The company posted a net loss of CNY 1.37 billion ($189 million) in the period, which is 41.5% lower than in Q1 2023. Its profit margin, however, rose 11.2 percentage points to 12.9%, from 1.7% a year earlier.
Its vehicle sales revenue increased 57.8% year-on-year to CNY 5.54 billion, with vehicle margin …
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