02:02 PM EDT, 08/27/2024 (MT Newswires) -- XPeng ( XPEV ) is looking to establish a manufacturing facility in Europe as it seeks to increase sales while trying to avoid tariffs, Bloomberg reported Tuesday, citing an interview with the Chinese automaker's Chief Executive He Xiaopeng.

The company is in the process of selecting a site in the region, according to the report.

The electric vehicle maker's plans also include setting up a large-scale data center in Europe to advance its intelligent driving features, the report said.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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