Undaunted by Tesla and NIO, Xpeng Set a New Sales Record in January

Chinese electric vehicle maker Xpeng (NYSE: XPEV) set another record for deliveries in January, a strong result following the launch of rival Tesla's locally made Model Y SUV.

Xpeng said that it delivered 6,015 of its upscale electric vehicles to Chinese customers in January, its third consecutive month of record sales, a nearly fivefold increase from January 2020, and the seventh straight month in which Xpeng more than doubled its year-ago sales.

Xpeng's P7 model has been the driver of much of that growth. Launched in late June 2020, the stylish sedan has notched steadily increasing sales, helped by Xpeng's ongoing efforts to upgrade and refine it.

Source Fool.com