News Snapshot:
Xpeng (XPEV) gave lackluster revenue and EV delivery guidance early Monday after losses and revenue both swelled in the first quarter, amid supply disruptions. Xpeng stock tumbled. X “We remain confident in expanding our market share despite the impact of semiconductor shortage and Covid-19,” Xpeng CEO He Xiaopeng said in an earnings release early Monday. On an earnings call, management reportedly said that Xpeng resumed double-shift production at the Zhaoqing plant in mid-May and will accelerate EV deliveries. The report added management sees chip supply disruptions taking longer to address than one might expect. Xpeng will launch the G9 electric...
