China's Xpeng to launch EVs for Latin American market, loss narrows 80pc

Chinese electric vehicle maker Xpeng (9868) will launch EVs for the Latin American market at an event in Mexico on March 25, it said on Friday.

The overseas push comes as the company posted its first-ever quarterly profit in the fourth quarter, beating estimates and joining Nio (9866), Li Auto (2015) and Leapmotor (9863) among China’s so-called “new forces” of automakers that achieved the break-even milestone.

Its net loss narrowed 80 percent year-on-year to 1.14 billion yuan (HK$1.3 billion) in 2025, with no final dividend declared.

Adjusted net loss also narrowed 92 percent to 457.8 million.

Revenue rose 87.7 percent to 76.7 billion yuan, among which vehicle sales surged 91 percent to 68.4 billion yuan.

Xpeng's full-year deliveries reached 429,445, up over 1.2 times.

Staff reporter and Reuters