Xpeng targets 500,000 European car sales a year by 2030

Chinese automaker Xpeng wants to reach 1 million deliveries a year by 2030, more than double the just under 430,000 cars it delivered globally last year.

It expects Europe to account for half that total, or about 500,000 cars annually.

Xpeng has delivered about 60,000 cars in Europe since 2020, while Ford sold 426,000 there last year.

Ford’s European sales have fallen from about 1 million a year roughly a decade ago, but Xpeng’s target would still mark a major shift in the market.

Xpeng is contracting with Magna to build several models in Austria, as it currently has no factory of its own in Europe.

EU rules require a minimum share of local content in electric vehicles sold in the bloc, and Xpeng says Magna’s output is not enough to meet its sales goal.

The company plans to expand its European manufacturing presence to meet the rules and support growth.

Its target depends on whether it can increase production and continue gaining buyers in Europe.