EV maker XPeng (NYSE:XPEV) is rapidly expanding its geographic footprint. The company is planning to open four delivery and service centers in Europe in the coming months.
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The centers are expected to open in H1 2023 and support the delivery of the company’s vehicles across Norway, Sweden, Denmark, and the Netherlands. Moreover, XPeng is providing eight years of warranty for batteries in the vehicles.
Moreover, the company will diagnose any vehicle issues remotely and solve them via over-the-air updates as far as possible.
While additional locations across Europe are expected to open by the end of 2023, the company’s brand experience stores in the above four countries have already seen 500,000 visitors and 4,500 test drives in 2022 already.
The Street, meanwhile, has assigned the stock a Hold rating alongside an average price target of $11.41. This points to a 15.25% potential upside in the stock. That’s after a nearly 79% slide in XPEV’s share price over the past year.
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