BEIJING, (Reuters) – Electric vehicle maker Xpeng said on Friday it aims to double overseas sales this year to raise the contribution from international markets to 20% of revenue, as it prepares to launch its G6 and G9 models in Mexico on March 25.
The Mexico launch marks the company’s latest step in an overseas expansion drive as Chinese EV makers look abroad for growth amid intense competition and slowing demand at home.
Xpeng reported its first-ever quarterly profit in the fourth quarter, beating estimates and joining Nio, Li Auto and Leapmotor among China’s so-called “new forces” of automakers that achieved the break-even milestone.
“The brand will officially launch in Mexico at the end of March, introducing the G6 and G9 to deepen its presence in Latin America,” founder and CEO He Xiaopeng said during its post-earnings call, according to the company.
XPeng has increasingly focused on overseas markets as a key growth driver, expanding in Europe and other markets outside China. The company has previously said it aims for overseas sales to contribute 70% of total profit by 2030.
Reporting by Qiaoyi Li, Zhang Yan and Ju-min Park; Editing by Joe Bavier and Jane Merriman
