
Xpeng Inc (NYSE: XPEV) co-founder and CEO He Xiaopeng said on Monday the electric vehicle maker is targeting a gross margin of 25% or more in the medium and long term.
What Happened: Xpeng’s gross margin, a closely followed metric, fell to 12% in the fourth quarter from 14.4% for the third quarter on higher costs related to supply chain issues and rising commodity prices.