Xpeng will launch electric vehicle models in Mexico

As it gets ready to introduce two models in Mexico next week, Chinese electric car company Xpeng declared its goal to double its foreign sales by 2026, raising the share of foreign markets to 20% of its revenue.

At a time when Chinese electric car makers are looking to expand overseas due to fierce competition and declining domestic demand, the company’s next move in its global expansion drive is the debut in Mexico.

In the fourth quarter, Xpeng declared its first profit, surpassing forecasts and becoming one of the so-called «new forces» of Chinese automakers to achieve profitability, along with Nio, Li Auto, and Leapmotor.

XPeng has expanded into Europe and other areas outside of China, concentrating more and more on foreign markets as a major growth engine.

According to earlier statements, the business wants sales outside of China to account for 70% of its overall income by 2030.