China's EV firm XPeng posts surging sales as price war drags on profitability
Chinese automaker XPeng announced on Tuesday a surge in quarterly revenue despite posting a net loss, as a price war between the country's electric car brands weighs down profitability. Founded in 2014 in the southern city of Guangzhou, XPeng is one of the country's dozens of young automotive firms to emerge in recent years as consumers shift towards electric vehicles. The company - lis