Warren Buffett-backed Chinese car maker announces strong demand for its new luxury electric sedan

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The luxury electric sedan market in China is seeing more demand — and getting more crowded.

Elon Musk's company does not break out China unit sales, although nearly one-fourth of its revenue in the second quarter came from the Asian country. Tesla said that in the three months ended June 30, it deliveredThe automobile business and related products account for roughly half of BYD's revenue. The company is also one of China's major electric vehicle battery manufacturers and has a joint venture with Toyota.

The vehicle retails for 229,900 yuan to 349,900 yuan after subsidies, according to Xpeng, which also claims the P7 has the longest range of any electric car sold in China at 706 kilometers. Xpeng CEO He Xiaopeng stands next to the company's P7 electric sedan as he addresses media at the 2020 Beijing auto show."In the near term we're focused on building the momentum in the P7," Brian Gu, vice chairman and president of Xpeng, told CNBC in an interview on the sidelines of the Beijing Auto Show on Saturday.

"We continue to have strong expectations that P7 will grow in coming months into next year," Gu said. "Next year we're actually going to launch our third vehicle, which will be unveiled very soon. And that will also be our catalyst for growth."Xpeng unveiled the P7 at the Shanghai auto show in April 2019 and began deliveries in June 2020.

 

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See even buffet sold AMERICA out !

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So much for made in America

For profit, all the rich are sold to china. Totalitarian china is a threat to all mankind! Wake up idiots! Stop funding it! If you so love chinees, there are also normal chinese in Taiwan and Singapore, you can get business with them.

BLM

Buffett for Biden....

buffet f**k china and you too

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Luxury electric cars take the spotlight in China's condensed auto showThe Beijing auto show kicked off this past weekend after a delay of five months due to the coronavirus pandemic, with a couple hundred fewer vehicles than past shows. I AM JESUS ​​CHRIST AND I DO NOT SUPPORT RACISM !! DONALD TRUMP IS THE OLD SERPENT 'THE DRAGON' 'THE DEVIL'. I WILL DEFEND AFRO-AMERICANS !! I came to step on the snake's head. WHO VOTES IN ('TRUMP DEVIL') GOES TO HELL. 'Revelation of the Bible' APOCALYPSE Don’t want to miss Chinese auto show..NBC executives there? Hunter Biden guests? Escorts provided? Taycan outsold all other Porsche models 😁👍
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