Chinese EV Maker Xpeng Expects cost cuts and a partnership with Volkswagen to help narrow its losses, according to an exclusive interview with CNBC. The company reported a larger-than-expected net loss of 2.8 billion yuan in the second quarter, causing its U.S.-listed shares to close 4.28% lower. Xpeng's CEO stated that the company is implementing cost-cutting measures and expects gross margin improvement by 2024. Xpeng's Hong Kong-listed shares were trading more than 2% higher on Monday. The company's partnership with Volkswagen, which includes co-developing two new EVs, is expected to improve its financial position and supply chain management.

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