The better one has $TSLA (-3,55%) seems to have found it. $XPEV (-2,82%) is on the way up.
The shares of Xpeng Inc (NYSE:XPEV) rose 7.6% on Friday after the Chinese electric vehicle manufacturer announced its official market entry in Qatar and further expansion in the Middle East and Africa.
At a recent brand launch event held in Doha, Qatar, the company unveiled its G9 and G6 SUV models and announced plans to introduce the P7+ sedan to the local market. Xpeng also presented products from its subsidiary Aridge, which specializes in flying cars, at the event.
Beyond Qatar, Xpeng has set up a regional spare parts warehouse in Dubai, established partnerships in Mauritius and opened new showrooms in Abu Dhabi and Cairo. These steps are part of the company's strategy to deepen its presence in the Middle East and Africa, laying a foundation for future expansion in the Gulf region.
The Qatar launch is the latest step in Xpeng's aggressive international expansion strategy as the Chinese e-car maker looks to diversify beyond its home market. The company is positioning itself in the premium markets of the Middle East, where luxury vehicles and new technologies often meet an open-minded clientele.
