A Chinese EV billionaire's wealth has plummeted 75% to $1.4 billion as aggressive price wars push customers to higher-tier cars — like Tesla or BYD
that it eventually wants to ship half its vehicles to countries outside China. He did not provide a time frame for the goal.
"As a company that focuses on global opportunities, we want to be balanced with our contribution of delivery — half from China, half from outside China — in the long run," Gu told the network. The New York Stock Exchange-listed Xpeng stock closed 2.4% higher at $8.20 on Friday. They are 18% lower so far this year and down 64% from a year ago. Xpeng's shares on the Hong Kong Stock Exchange are up 0.2% on Tuesday at midday. They are down 19% this year.Sign up for notifications from Insider! Stay up to date with what you want to know.
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