NEW YORK -- Chinese electric vehicle maker Xpeng on Friday reported wider-than-expected losses for the second quarter, sending its U.S.-listed stock tumbling more than 6% in early trading.
The company reported a net loss of 2.8 billion yuan (around $385 million), compared with 2.7 billion yuan in the second quarter last year. This marks Xpeng's highest quarterly loss since it went public in 2020. Analyst estimates surveyed by Refinitiv had forecast the company's net loss at 2.13 billion yuan.
