Chinese electric car company Xpeng Motors (NYSE: XPEV) has delivered its first vehicles to Norway, marking the beginning of the Chinese company's entry into the European market.
Guangzhou-based Xpeng has started delivering the first 100 G3 SUVs to customers in Norway, where electric vehicles have a major market share, with a starting price of 358,000 kroner ($41,000). The cars arrived on December 14.
Tencent News quoted Xpeng Vice Chairman and President Gu Hongdi as saying that the company will enter more European countries with its products, but will spend the next 12 months deciding which markets to explore next and laying the groundwork for sales.
In the long run, to be a successful electric vehicle company, it has to be a global company, Gu said, adding that Xpeng is working to establish its presence, testing the waters in certain markets on a limited basis, and seeing it as a long-term strategy.
Xpeng is up more than 100 percent since its US IPO this August and has grown to become one of the most highly valued companies in the world.
