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XPeng Expands European Service Network

Sam Boughedda
Sam Boughedda trader
Updated 17 Jan 2023

XPeng (NYSE: XPEV) shares are trading 3% lower premarket despite the company announcing on Monday that it is expanding its service network in Europe. 

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YOUR CAPITAL IS AT RISK. 81% OF RETAIL CFD ACCOUNTS LOSE MONEY.


The Chinese electric vehicle maker said in a release that it will open four XPENG delivery and service centres in Denmark, the Netherlands, Norway, and Sweden.

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YOUR CAPITAL IS AT RISK. 68% OF RETAIL CFD ACCOUNTS LOSE MONEY

The locations are set to open in the first half of this year in order to help with the delivery of the company’s vehicles in the countries. They will also focus on aftersales and repairs.

Norway’s center, in Lørenskog, will open in February, with the centre’s in the Netherlands, Sweden, and Denmark opening in the second quarter.

“We’re establishing our first tier of XPENG Delivery and Service Centers in Europe to help realize our goal of creating a seamless yet unique XPENG customer journey, with customer experience at the heart of our offering,” commented Brian Gu, Vice Chairman and President of XPENG.

XPENG added that it will also begin to open several authorized service locations across Europe by the end of 2023. The company has also reached an agreement with Denmark’s mobile car service platform OmniCar to offer remote servicing for customers in the country.

Last year, the electric vehicle manufacturer announced the opening of its brand experience stores in Norway, the Netherlands, Sweden, and Denmark, which it said resulted in around 500,000 visitors and more than 4,500 test drives conducted over the year.

XPeng’s Hong Kong-listed shares closed 2.34% lower on Tuesday.


YOUR CAPITAL IS AT RISK. 81% OF RETAIL CFD ACCOUNTS LOSE MONEY.


Sam Boughedda
Sam is a trader and lead stock market writer at AskTraders. After starting his career in the forex market, Sam now focuses on stocks, specifically consumer staples.