XPeng's factory in Guangzhou was qualified to produce vehicles in January and currently only produces the flagship SUV G9, local media outlet Jiemian said in a report today, citing a source familiar with the matter.
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Insurance registrations for NEVs in China by major EV makers rebounded last week, although they have not yet reached the levels seen before the Chinese New Year holiday.
Deliveries of the new P7 in Europe will begin in June, and deliveries of the G9 are expected to begin in September.
The month's vehicle deliveries reflected a seasonal slowdown during the Chinese New Year holiday that began in mid-January, XPeng said.
Sales of NEVs in China have declined significantly over the past two weeks, but this is to be expected as the vast majority of last week was during the Chinese New Year holiday.
China EV stocks are up an average of 20 percent year-to-date but have underperformed China tech ADRs since December, likely due to investor concerns about weak first-quarter sales and increased competition, according to Edison Yu's team.
XPeng Aeroht's X2 flying car has become the first manned eVTOL (electric vertical take-off and landing) product to receive such a permit in China.