Navigating Tariffs and Trade Tensions
However, the expansion plans have not been without challenges. The EU has imposed tariffs on Chinese goods, including EVs, as part of its efforts to protect European industries. Xpeng's executive acknowledged that the tariffs have created uncertainty for the company, but stated that Xpeng is committed to finding ways to work with European partners and regulators to overcome the challenges posed by the tariffs.
Xpeng has already taken steps to mitigate the impact of the tariffs, including investing in local suppliers and manufacturers. The company has also established partnerships with European companies to ensure a stable supply chain.