Xpeng Inc Stock Price, News & Analysis

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.

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.

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.

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.