Aug 21 2021
XPeng in China Aims to Double Its Manufacturing Capacity of EV to Meet the Demand
Chinese electric vehicle startup XPeng plans to double its production capacity as it takes on segment leader Tesla and others in the world's largest auto market with its smart and connected vehicles. The new plant will double Xpeng's annual vehicle production capacity from 100,000 to 200,000 electric vehicles. XPeng's total shipments for the second quarter of 2021 were 17,398 EVs, which is a 439% year-over-year increase. As of July 31, 2021, this year's total XPeng shipments reached 38,778 units, an increase of 388% year-on-year. The cheapest rear-drive model Y costs 276,000 RMB ($42,710), while the durable all-wheel-drive version costs 347,900 RMB ($53,697) after subsidies.