Business
Xpeng Diversifies as Chinese EV Price Wars Rage: Qatar Joins Export List Amid Domestic Profit Crunch
Xpeng, a Chinese electric vehicle manufacturer, has included Qatar in its export destinations amidst a domestic price war. The company is among many that are intensifying their efforts to expand globally as fierce local competition continues to erode profit margins.
"Xpeng's decision to penetrate the Qatar market is a tactical action," stated Alex Tang, the auto manufacturer's chief of international markets. "This not only bolsters our influence in the Middle East, but also supports our goal to deliver intelligent and environmentally conscious transportation options worldwide."
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