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XPeng Inc. - XPEV STOCK NEWS

Welcome to our dedicated page for XPeng news (Ticker: XPEV), a resource for investors and traders seeking the latest updates and insights on XPeng stock.

XPeng Inc., established in 2014, is a prominent Chinese smart electric vehicle (EV) company that designs, develops, manufactures, and markets EVs primarily in China. The company's mission is to create high-quality, cost-effective vehicles that are younger, intelligent, electric, and internet-based. XPeng integrates hardware, software, data, and operations to offer global intelligent travel solutions.

XPeng targets technology-savvy middle-class consumers in the midrange to high-end segments of China's passenger vehicle market. In 2023, the company sold over 141,000 EVs, representing approximately 2% of China's passenger new energy vehicle market. The company is also a leader in autonomous driving technology.

In recent years, XPeng has achieved significant milestones. The company experienced rapid growth since its establishment and, by the end of last year, had a cumulative historical delivery volume exceeding 400,000. In 2023 alone, XPeng delivered more than 140,000 new vehicles.

A key aspect of XPeng's strategy is its entry into the Hong Kong market. This move is part of the company's broader global expansion efforts. In Hong Kong, XPeng has partnered with Sime Darby Motors to bring its latest smart EVs to local consumers through branded showrooms, after-sales support, and comprehensive buying process guidance.

XPeng models such as the pure electric SUV model G6 and the flagship pure electric seven-seater MPV X9 will be among the first to be introduced in Hong Kong, with deliveries starting from Q3. Additionally, XPeng is set to enter Macau with partner XIN KANG HENG HOLDING LTD, offering models like the G9, X9, G6, and P7i.

XPeng has also made strides in technology and innovation. During its AI Day event in May 2024, the company rolled out its AI-powered in-car operating system, XOS 5.1.0 or AI Tianji OS, highlighting its leadership in end-to-end AI model application in the automotive industry. The company aims to achieve nationwide road coverage for its advanced driver-assistance system, XNGP, by the third quarter of this year.

XPeng's commitment to innovation, technology, and customer experience positions it as a key player in the global smart EV market. With headquarters in Guangzhou and offices in Beijing, Shanghai, Silicon Valley, and Amsterdam, XPeng continues to advance its core technologies and expand its market presence.

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XPeng Inc. announced the delivery of 10,668 Smart EVs in June 2024, a 24% year-over-year increase. This includes 1,687 units of the XPeng X9, which has reached a cumulative total of 13,143 units since its launch. Overall, the company delivered 52,028 vehicles in the first half of 2024, marking a 26% increase from the previous year. XPeng's XNGP technology has achieved an 84% penetration rate for urban driving scenarios and will be available nationwide through an OTA update in July. Additionally, XPeng's AI-powered Tianji OS will receive a major upgrade in Q3 2024, coinciding with its international launch. The company also plans to unveil the all-electric hatchback coupe, Mona M03, in July, which boasts the lowest drag coefficient in its class worldwide.

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XPeng announced its vehicle delivery results for May 2024. The company delivered 10,146 Smart EVs, marking a 35% year-over-year increase and an 8% rise from April. The XPENG X9 achieved 1,625 unit deliveries, maintaining its top-selling status in China. Year-to-date deliveries reached 41,360, a 26% increase from last year. The XNGP's monthly active user penetration in urban areas was 84%, with a total test mileage exceeding 6.46 million kilometers. During AI Day on May 20, XPENG rolled out its AI-powered in-car operating system, XOS 5.1.0, reinforcing its leadership in AI applications within the auto industry.

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XPeng reported its Q1 2024 unaudited financial results. The company had cash and equivalents of RMB41.40 billion (US$5.73 billion) as of March 31, 2024. Total revenues were RMB6.55 billion, a 49.8% decrease quarter-over-quarter but a 62.3% increase year-over-year. Vehicle sales revenue was RMB5.54 billion, down 54.7% QoQ but up 57.8% YoY. The gross margin increased to 12.9%, up from 6.2% in Q4 2023. The net loss was RMB1.37 billion, compared to a net loss of RMB2.34 billion in Q1 2023. XPeng delivered 21,821 vehicles, a 19.7% YoY increase. The company operates 574 stores and 1,171 charging stations across 178 cities. In April 2024, total deliveries reached 9,393 vehicles. For Q2 2024, XPeng expects deliveries between 29,000 and 32,000 vehicles, with revenues of RMB7.5 billion to RMB8.3 billion.

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XPENG Motors has launched XOS 5.1.0, the first AI-powered in-car OS called Tianji, on May 20, 2024. This system integrates advanced AI technology to enhance smart driving experiences for eligible XPENG models. Key features include the AI assistant Xiao P, AI Chauffeur, and AI Bodyguard.

The OS utilizes XPENG's deep neural network XNet, planning model XPlanner, and language model XBrain, significantly improving perception, planning, and decision-making capabilities. The system promises enhanced driving safety and comfort through high-level autonomous driving capabilities.

XPENG plans to extend smart driving features to all roads in China by Q3 2024 and achieve L4-level autonomous driving by 2025. The company is investing heavily in R&D, with plans to recruit 4,000 professionals and allocate 3.5 billion renminbi in 2024.

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XPENG, a leading Chinese smart electric vehicle company, will report its first quarter 2024 unaudited financial results on May 21, 2024. The earnings call is scheduled for 8:00 a.m. ET on the same day. Participants can join the call via pre-registration link. XPENG focuses on designing, developing, and manufacturing Smart EVs for tech-savvy middle-class consumers. The Company aims to drive Smart EV transformation with cutting-edge technology.

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XPENG Inc. reported a 33% year-on-year increase in vehicle deliveries for April 2024, with 9,393 Smart EVs delivered. The X9 MPV achieved nearly 10,000 deliveries since its launch, showcasing steady growth in the electric vehicle market. XPENG also unveiled new AI-powered innovations and announced the launch of XOS 5.1.0, integrating AI into smart cockpits and driving systems, further solidifying its position as an industry leader.

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XPeng Inc. will showcase AI-powered Smart EV innovations at the Beijing Auto Show 2024. The company will host a Press Conference on April 25, 2024, to demonstrate its latest technological advancements. Live broadcasts will be available in both Chinese and English, offering viewers insights into XPeng's cutting-edge Smart EV developments.
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XPENG, a leading Chinese smart electric vehicle company, published its 2023 Environmental, Social, and Governance Report, highlighting achievements like the highest MSCI ESG Rating of AAA, low carbon products reducing emissions by 1.5 million metric tonnes, clean energy usage, green manufacturing practices, circular economy initiatives, product quality, safety ratings, technology innovation, quality service, information security, and strengthened corporate governance.
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XPeng Inc. files its 2023 Annual Report on Form 20-F, showcasing its financial performance and strategic outlook. Shareholders can access the report online or request a hard copy for free. The Company continues its commitment to transparency and investor relations.
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XPENG and the Volkswagen Group have entered into a framework agreement on technical collaboration for developing industry-leading E/E Architecture for Volkswagen's EV platform in China. The collaboration aims to equip Volkswagen brand electric vehicles produced in China from 2026 with XPENG's latest generation of E/E Architecture, enhancing technological and cost competitiveness.
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FAQ

What is XPeng Inc.?

XPeng Inc. is a Chinese smart electric vehicle company that designs, develops, manufactures, and markets EVs primarily in China.

When was XPeng Inc. established?

XPeng Inc. was established in 2014.

What are XPeng's main products?

XPeng's main products include smart electric vehicles like the G6 SUV, the flagship MPV X9, and other models such as G9 and P7i.

Who are XPeng's target customers?

XPeng targets technology-savvy middle-class consumers in the midrange to high-end segments of China's passenger vehicle market.

What recent milestone has XPeng achieved?

In 2023, XPeng sold over 141,000 EVs and entered the Hong Kong market as part of its global expansion strategy.

What partnerships has XPeng formed for its market expansion?

XPeng has partnered with Sime Darby Motors for the Hong Kong market and XIN KANG HENG HOLDING LTD for the Macau market.

What technology advancements has XPeng made?

XPeng has rolled out its AI-powered in-car operating system, XOS 5.1.0, and aims to achieve nationwide road coverage for its advanced driver-assistance system, XNGP.

Where is XPeng headquartered?

XPeng is headquartered in Guangzhou, China, with additional offices in Beijing, Shanghai, Silicon Valley, and Amsterdam.

What is XPeng's mission?

XPeng's mission is to drive Smart EV transformation with technology, shaping the mobility experience of the future.

How can I contact XPeng for investor enquiries?

For investor enquiries, you can email XPeng at ir@xiaopeng.com or contact Jenny Cai at Piacente Financial Communications.

XPeng Inc.

NYSE:XPEV

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8.35B
1.54B
1.21%
14.95%
6.47%
Automobile Manufacturing
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United States of America
Guangzhou