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China Electric-Car Upstart Xpeng Pushes Back Profit Goal After Horror Year

  • Xpeng’s star has fallen after sales miss target, share slump
  • Carmaker plans push into self driving to revive its fortunes
Bloomberg business news
WATCH  Xpeng CEO He Xiaopeng spoke exclusively with Bloomberg about the company’s cash flow and market share goals.Source: Bloomberg

Chinese electric vehicle maker Xpeng Inc. has pushed back its profit goal until 2025, after a horror year in which its shares plunged 80% and it delivered less than half its annual sales target.

Having previously aimed to break even by late 2023 or early 2024, the Guangzhou-based automaker now expects to turn an operating profit in 2025, Chief Executive Officer He Xiaopeng told Bloomberg News.