Information shared by Xpeng on Twitter suggests that it may be about to announce plans for expansion in Europe.
(Image credit: CnEVPost)
Xpeng has previously been delivering vehicles to consumers in Norway, and now the company appears to be hinting that it will ramp up its efforts to expand in the European market.
The company today shared a chart on Twitter that shows China and Europe leading the growth of the global electric vehicle market from 2015 to 2021, with China growing at an average annual rate of 68 percent and Europe at 55 percent, ahead of 41 percent for the US.
“Which region is propelling global EV growth? A glance at global EV penetration from 2015 to 2021. What’s the next destination for XPENG?” the tweet reads.
A picture accompanying the chart shows an Xpeng P7 sedan heading into the distance, and the text seems to suggest that the company will increase its expansion in Europe.
Which region is propelling global EV growth? A glance at global EV penetration from 2015 to 2021. What’s the next destination for XPENG? #ElectricVehicles pic.twitter.com/ynMf9AmQ3H
— XPENG (@XPengMotors) February 10, 2022
In China, Xpeng delivered 12,922 vehicles in January, the fifth consecutive month above 10,000.
It delivered 41,751 vehicles in the fourth quarter, higher than Nio’s 25,034 vehicles and Li Auto’s 35,221 vehicles. It was also the second consecutive quarter in which Xpeng was the highest delivery volume among these three companies.
The company had exported vehicles to Norway last year, and the P7 model localized for the Norwegian market, rolled off the production line at Xpeng’s plant in Zhaoqing city, Guangdong province, last August.
With the company gaining operational experience in Norway, expansion into other European markets seems natural.
Xpeng‘s new sedan, the P5, has already appeared in Amsterdam, according to information shared today by Weibo user @电动知士运营小妹, who said Xpeng should start selling vehicles in the Netherlands this year.
For China’s leading EV companies, they all have international goals.
Nio entered Norway last year and announced at the Nio Day 2021 event last December 18 that Nio will enter Germany, the Netherlands, Sweden and Denmark in 2022.
These moves have been noted by Wall Street analysts, with Barclays analyst Jiong Shao initiating coverage of Nio, Xpeng Motors, and Li Auto earlier this week, all with Overweight ratings, saying that EVs and smart cars are among China’s top national priorities, and that their TAM (total addressable market) is not just China, but a global market.
