(Reuters) - Chinese electric-vehicle maker Xpeng ( XPEV ) forecast first-quarter revenue below market expectations on Tuesday as a sluggish economy and stiff competition weighed on vehicle demand.

The company expects first quarter revenue between 5.8 billion yuan ($805.67 million) and 6.2 billion yuan, compared with estimates of 11.37 billion yuan, according to LSEG data.

($1 = 7.1990 Chinese yuan renminbi)