China's Xpeng sees sales turnaround in second half with new EV model

SHANGHAI :Chinese electric-vehicle maker Xpeng forecast sharp growth in deliveries in the second half of the year thanks to its new model that is taking on Tesla with competitive prices and smart-driving technologies.

The upbeat outlook follows months of sales slumps and expanded losses for EV startups like Xpeng and Nio, even as bigger rivals Tesla and BYD posted record second-quarter deliveries amid an intensifying price war. The Chinese firm launched the G6 at the Shanghai auto show in April as the first model built on its next-generation technology architecture that helps lower manufacturing costs.

With G6, Xpeng also introduced its most advanced autonomous driving capabilities into the category of EVs priced at 250,000 yuan or below, Gu said.

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