U.S. Automakers Panic as Chinese EV Maker Xpeng Expands to Mexico
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Chinese electric vehicle manufacturer Xpeng is expanding to Mexico, aiming to double international sales this year. The company's move comes amid resistance from US automakers, who are trying to prevent Chinese manufacturers from selling cars locally.
Xpeng, a Chinese electric vehicle manufacturer, is expanding to Mexico. The company launched its G6 and G9 models in Mexico on March 25. Xpeng aims to double international sales this year and generate 70% of its revenue from international sales in the next four years. US automakers are resisting the entry of Chinese manufacturers into the local market. The US has a cybersecurity regulation that prevents Chinese companies from selling vehicles in the US due to security concerns. Xpeng's expansion to Mexico is a step towards increasing its global presence.
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