XPeng Sends First EV Shipment to Norway. Why That Matters._老虎社区_美港股上老虎

XPeng Sends First EV Shipment to Norway. Why That Matters.

Barrons2021-08-24

Chinese electric-vehicle maker XPeng said Tuesday that it sent its first shipment of its electric sedan, the P7, to Norway, marking another step in the company’s expansion beyond its home market. That...

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ArcticPuffin
·2021-08-25
Spot on
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eelin
·2021-08-25
Goooo
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Aaden
·2021-08-24
Gogogo Xpeng
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- Calvinq:
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  2021-08-24
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Why That Matters.\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-08-24 22:51 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.barrons.com/articles/xpeng-stock-norway-ev-sales-51629812283?mod=RTA><strong>Barrons</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Chinese electric-vehicle maker XPeng said Tuesday that it sent its first shipment of its electric sedan, the P7, to Norway, marking another step in the company’s expansion beyond its home market. 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That’s good news for XPeng stock, and a little bit of bad news for the competition.\nXPeng shares (ticker: XPEV) rose 0.9% in Tuesday trading. The S&P 500 and Dow Jones Industrial Average were up about 0.2% and 0.3%, respectively.\nXPeng also shipped its G3 SUV to Norway in late 2020; that model’s sales to consumers began in December. The P7 is the company’s second model on offer in the country. XPeng declined to comment on its Norwegian sales volumes.\nNorway is a popular location to start selling EVs. XPeng peer NIO(NIO) also selected Norway as its first market outside of China. The reason isn’t hard to understand: EV penetration in Norway is very high. In 2020,more than 50% of new cars sold in Norway were electric, and more than 10% of all light vehicles on the road are electric. And penetration continues to rise, with 84.7% of new car sales in July 2021 electric—64.1% were all battery electric and 20.6% were plug-in hybrid vehicles.\nBut the Norwegian car market isn’t very big. 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