In the first quarter of this year, Xpeng's exports reached 61.8 percent of the full year 2023, the company said.
Xpeng (NYSE: XPEV) has entered the Egyptian automotive market, continuing its internationalization efforts V 2.0 strategy.
Xpeng launched the G9 SUV (sport utility vehicle) and the P7 sedan in Egypt on June 11, and local deliveries of both models will begin at the end of this month, it said today.
The Chinese electric vehicle (EV) maker launched the models in partnership with local dealer Raya Auto, which will provide after-sales support.
Currently, Raya Auto has set up Xpeng-operated authorized service centers in Cairo and plans to add two new flagship showrooms by the end of this year, according to an Xpeng press release.
This year marks Xpeng's 10th anniversary and a historic time for the company to expand its presence overseas, it said.
In the first quarter of this year alone, Xpeng's exports reached 61.8 percent of its full-year 2023 volume, the company said, without disclosing specific figures.
“This year, we hope to expand Xpeng's range of export destinations to more than twenty countries from the original three,” said He Xiaopeng, Xpeng's chairman and CEO.
Xpeng has increased its focus on overseas markets this year, as competition in the domestic market grows red hot.
In an internal letter dated February 18 -- the first working day after China's 2024 Lunar New Year holiday – Mr. He said 2024 will be the first year of V 2.0 for Xpeng's internationalization efforts.
So far this year, the EV maker has announced dealer partnerships in a number of regions including the UAE, Egypt, Thailand, Singapore, Hong Kong, Macau, and Australia.
Xpeng delivered 10,146 vehicles in May, surpassing the 10,000-unit mark for the first time so far this year, according to figures it announced on June 1.
So far this year, Xpeng has delivered 41,360 vehicles, up 26.04 percent year-on-year.
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