The deal is another shot in the arm for the currently loss-making startup, coming on the heels of a stake sale to, and partnership with, Germany's Volkswagen
The deal is win for Xpeng, one of the smaller players in China's EV sector, that is less than a decade old
For most of 2022, Tesla joined rivals in aggressively raising EV prices but its decision to reverse course now challenges automakers’ established strategy of pursuing profit-over-volume