Xpeng CEO's wealth has plummeted 75% to $1.4 billion amid price wars

  • 📰 BusinessInsider
  • ⏱ Reading Time:
  • 28 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 15%
  • Publisher: 51%

Finance Finance Headlines News

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.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 729. in FİNANCE

Finance Finance Latest News, Finance Finance Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Airbnb investor explains how to find markets to buy in, how to succeedA 34-year-old who achieved financial independence and quit his day job after setting up 2 bachelorette-themed Airbnbs in Scottsdale explains how he uses data to find 'outsized opportunities'
Source: BusinessInsider - 🏆 729. / 51 Read more »

Mortician with 500,000 TikTok followers removing stigma around deathA mortician with 500,000 TikTok followers shared videos about applying makeup on the dead to remove stigma around death: 'It's just a part of life'
Source: BusinessInsider - 🏆 729. / 51 Read more »

Musk to pull Twitter from Europe anti-disinformation rules: officialsElon Musk pulled Twitter from the EU's anti-disinformation agreement and continues to troll with alt-right memes and dogwhistles. It could be a sign he'll close the site to Europe completely.
Source: BusinessInsider - 🏆 729. / 51 Read more »

25 cities where rent is falling while inflation stays high: reportStubbornly high inflation is leading to record rent growth — but these 25 cities are more affordable than they were last year
Source: BusinessInsider - 🏆 729. / 51 Read more »

Remote-work handcuffs: You hate your job but love WFHInsider tells the global tech, finance, markets, media, healthcare, and strategy stories you want to know.
Source: BusinessInsider - 🏆 729. / 51 Read more »