Xpeng’s stock slides 6% after Chinese EV maker’s earnings fall short of estimates

📆 18/08/2023 15:55:00
📰 MarketWatch

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Wider losses for XPeng weighed on the company's stock as well as on U.S. shares of Nio and Li Auto.

XPeng Inc.’s stock fell 6% Friday after the Chinese electric-vehicle maker posted weaker-than-expected second-quarter earnings, with the miss weighing on other Chinese EV makers, as well.

XPeng XPEV had a net loss of RMB2.80 billion , or RMB3.25 per American depositary share, for the quarter, wider than the loss of RMB2.70 billion, or RMB1.63 per ADS, posted in the year-earlier period.

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