Chinese electric vehicle maker Xpeng reported a 27% quarter-on-quarter rise in car deliveries for the second quarter of 2023, surpassing its own forecast. However, the company's deliveries were still lower than the same period last year. Xpeng's shares rose by 0.7% following the announcement. The company has been facing challenges from a tough macroeconomic environment in China and increased competition from domestic rivals and Tesla. Xpeng's losses have been widening, and it has been reorganizing its management structure to unlock growth.

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