XPeng's U.S.-listed shares fell to a 15-month low on Tuesday. The stock has lost approximately 25% of its value since the start of 2024.
Intense competition and weakening demand in China's electric vehicle market drove the decline. The company has reported four consecutive months of year-over-year delivery declines.
These losses occurred despite XPeng's recent announcement that its first mass-produced robotaxi rolled off the production line. Analysts cite reduced government incentives as a primary headwind for the broader new energy vehicle sector.