Written by Cláudio Afonso | LinkedIn | X
Chinese electric vehicle (EV) manufacturer Xpeng announced its expansion into the Egyptian market at a press conference held at the Grand Egyptian Museum in Cairo on Tuesday.
The company has launched two electric models from its portfolio including the flagship SUV Xpeng G9, and the sedan Xpeng P7.
Both models will be available for delivery to the Egyptian market starting from the end of this month, marking XPENG’s first foray into the African continent.
“No more waiting… XPENG, the future of electric mobility, is now available for the first time in Egypt and Africa by RAYA Auto,” the EV maker stated on Wednesday.
Earlier this week, Xpeng signed an agreement with the Greek group Autohellas, marking the expansion into a new European market. In early April, the Guangzhou manufacturer had signed an agreement with Salvador Caetano Group for importation and distribution in Spain and Portugal.
Xpeng delivered 10,146 vehicles in May, marking a 35 percent year-on-year increase. The company, led by He Xiaopeng, is gearing up to launch its sub-brand Mona later this month.
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The company said recently that it expected to deliver between 29,000 and 32,000 vehicles in the second quarter of the year, representing a yearly growth of 25 to 37.9 percent.
Xpeng‘s year-to-date deliveries are up 26 percent from 2023, with 41,360 vehicles delivered over the first five months of the year.
During Xpeng’s AI Day event on May 20, 2024, the company officially announced the rollout of its AI-powered in-car operating system AI Tianji OS — also known as XOS 5.1.0.
Xpeng recently reported its first-quarter earnings, revealing a 49.8 percent drop in total revenues quarter-over-quarter to 6.55 billion RMB. Despite the revenue decline, the gross margin surged to 12.9 percent in the first quarter of 2024, up from 1.7 percent in the corresponding period of 2023 and 6.2 percent in the fourth quarter of 2023.
Written by Cláudio Afonso | LinkedIn | X
