Xpeng Inc Stock Price, News & Analysis

XPENG (NYSE: XPEV) reported Q2 2024 financial results, showing significant growth:

- Total revenues: RMB8.11 billion (US$1.12 billion), up 60.2% YoY

- Vehicle sales: RMB6.82 billion (US$0.94 billion), up 54.1% YoY

- Gross margin: 14.0%, up from -3.9% in Q2 2023

- Vehicle deliveries: 30,207, up 30.2% YoY

- Net loss narrowed to RMB1.28 billion (US$0.18 billion)

Cash position remains strong at RMB37.33 billion (US$5.14 billion). XPENG expanded its sales network to 611 stores and 1,298 charging stations. The company expects Q3 2024 deliveries between 41,000-45,000 vehicles and revenues of RMB9.1-9.8 billion.

XPENG Motors (NYSE: XPEV, HKEX: 9868) has launched its Tianji XOS 5.2 Over-the-Air (OTA) upgrade globally on August 15, 2024. This update introduces enhanced Smart Cockpit and Intelligent Driving features powered by AI technology. The upgrade follows a 28-day beta test with global users, incorporating nearly 100 feedback items. XPENG plans to roll out at least four OTA updates in the coming year.

The company hosted its first global user OTA salon in Denmark, focusing on customer feedback and advancing smart mobility worldwide. The event included presentations, Q&A sessions, and hands-on experiences, addressing 82% of Danish customers' feedback. XPENG's CEO, He Xiaopeng, emphasized the company's commitment to user-driven innovation and sustainable mobility solutions.

XPENG (NYSE: XPEV, HKEX: 9868), a leading Chinese Smart EV company, has announced it will report its second quarter 2024 unaudited financial results on Tuesday, August 20, 2024, before U.S. markets open. The company's management will host an earnings conference call at 8:00 AM U.S. Eastern Time (8:00 PM Beijing/Hong Kong Time) on the same day.

Participants can join the call by phone through a pre-registration link. A live and archived webcast of the conference call will be available on XPENG's investor relations website. A replay of the call will be accessible until August 27, 2024, via specific telephone numbers for different regions.

XPENG, a leading Chinese Smart EV company, reported its July 2024 vehicle delivery results. The company delivered 11,145 Smart EVs, marking a 1% year-over-year and 4% month-over-month increase. This represents the fifth consecutive month of growth in both metrics. For the first seven months of 2024, XPENG delivered 63,173 vehicles, a 20% year-over-year increase.

The XPENG X9 model contributed 1,459 units to July's deliveries, bringing its total to 14,602 since its January launch. XPENG's XNGP technology saw an 84% monthly active user penetration rate in urban driving. The company also announced a strategic upgrade to XNGP, offering nationwide access on all public roads. By Q4 2024, XPENG aims to provide a 'door-to-door' smart driving experience. Additionally, display cars for the new XPENG MONA M03 model will be available in showrooms starting August 1, 2024.

XPENG (NYSE: XPEV) announced the global rollout of Tianji XOS 5.2, its latest in-car operating system, and the nationwide deployment of unlimited XNGP (navigation guided pilot) in China. The OTA update brings 484 feature upgrades across smart driving, ecosystem connectivity, and smart cockpit. XPENG's AI-powered OTA updates lead the industry with one version iteration every two days and one experience upgrade every two weeks.

The company also revealed plans for its S5 liquid-cooled ultra-fast charging station, set to launch in Q3 2024, capable of adding 1 km of range per second. XPENG's self-operated charging network in China has surpassed 1,600 stations. Additionally, XPENG Mona M03 smart pure electric coupe display cars will be available in over 100 cities nationwide starting August 1, 2024.

XPENG and Volkswagen Group have entered into a Master Agreement on E/E Collaboration to jointly develop industry-leading E/E Architecture for locally produced vehicles based on Volkswagen's CMP and MEB platforms. This collaboration marks the third major milestone in their strategic partnership within a year.

Key points:

• Project Houses established in Guangzhou and Hefei for close collaboration
• First vehicle with jointly developed E/E Architecture to start production in approximately 24 months
• Both parties will explore expanding the scope of the E/E Architecture usage
• The agreement demonstrates trust and commitment in the strategic partnership

This collaboration aligns with Volkswagen's 'in China for China' strategy, focusing on Chinese customers and technological innovations.

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.

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.

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.