Chinese electric car company Xpeng predicts chip shortage will last another quarter

Xpeng's U.S.-listed shares fell nearly 4.9% in Thursday's trading session despite the start-up reporting greater-than-expected revenue of 2.95 billion yuan for the first quarter.

The stock is now down nearly 45% for the year so far, but still holds gains of more than 50% from its IPO in August. Xpeng expects to deliver between 15,500 and 16,000 vehicles in the second quarter. The company said it delivered 13,340 cars in the first three months of the year, topping its forecast for 12,500 cars.While car sales account for the majority of Xpeng's revenue, the company noted first-quarter results were helped by customer demand for its assisted driving software.

Later this year, Xpeng plans to launch a second electric sedan, the P5, which includes support for the latest version of the start-up's assisted driving software. Vehicle margin, a measure of profitability, rose to 10.1% in the first quarter, up from 6.8% in the prior quarter. The company did report a year-on-year increase in net losses, of 786.6 million yuan in the first quarter, versus 649.8 million yuan during the same period last year. Research and development expenses rose 72.2% from a year ago to 535.1 million yuan.in the first quarter by delivering more than 300 units of its G3 SUV to Norway, according to the company.

After One Year Chenge The Battery 😂😂😂😂 Chines product is lol

And the era of electric cars will end just when lithium and other precious metals will be low and will be expensive,then no one will buy electric cars anymore, because the prices for them will only rise!That's why internal combustion engines and CNG are not such a bad idea!😉

People need a little more good news now.

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