XPENG Announces Vehicle Delivery Results for August 2024
Rhea-AI Summary
XPENG (NYSE: XPEV, HKEX: 9868) reported 14,036 Smart EV deliveries in August 2024, marking a 3% year-over-year increase and a 26% rise from the previous month. Year-to-date deliveries reached 77,209 units, up 17% from the same period last year. The company launched its MONA M03 intelligent all-electric hatchback coupe, priced between RMB119,800 and RMB155,800, featuring high-level ADAS functionality for under RMB200,000. XPENG announced its goal to become a global AI-defined automotive company, unveiling new AI technologies including the XPENG Turing chip and next-generation AI Hawkeye Visual Solution. The company also reported an 85% monthly active user penetration rate for XNGP in urban driving.
Positive
- 14,036 Smart EVs delivered in August 2024, up 3% year-over-year and 26% month-over-month
- 77,209 Smart EVs delivered in the first eight months of 2024, a 17% increase year-over-year
- Launch of MONA M03, offering high-level ADAS functionality for under RMB200,000
- 85% monthly active user penetration rate for XNGP in urban driving
Negative
- None.
Insights
XPENG's August delivery figures show modest year-over-year growth of
XPENG's technological advancements are noteworthy. The MONA M03 offering high-level ADAS for under
XPENG's strategy to target younger audiences with the MONA M03 is astute, given the growing importance of this demographic in the EV market. The pricing strategy, offering advanced features at a more accessible price point, could disrupt the market and pressure competitors. The company's pivot towards becoming a "global AI-defined automotive company" aligns with broader industry trends but may face challenges in international markets due to regulatory differences and established competitors. The rapid OTA upgrade rollout to overseas owners demonstrates XPENG's commitment to global expansion. However, the true test will be sustained sales growth and market share gains in both domestic and international markets.
14,036 vehicles delivered in August 2024, a
GUANGZHOU, China, Sept. 01, 2024 (GLOBE NEWSWIRE) -- XPeng Inc. (“XPENG” or the “Company,” NYSE: XPEV and HKEX: 9868), a leading Chinese smart electric vehicle (“Smart EV”) company, today announced its vehicle delivery results for August 2024.
XPENG delivered 14,036 Smart EVs in August, representing increases of
On August 27, 2024, XPENG held its 10th Anniversary Gala Night along with the official market launch of MONA M03, an intelligent all-electric hatchback coupe with three versions at prices ranging between RMB119,800 and RMB155,800, in China. With its Max version featuring the XNGP ADAS, MONA M03 is the world’s first mass-produced vehicle to offer high-level ADAS functionality for under RMB200,000.
On August 30, 2024, the first batch of MONA M03s was delivered to customers at the Chengdu Auto Show. As the first model to usher in XPENG’s second decade, MONA M03 boasts attractive styling, advanced intelligence and superior drivability surpassing those commonly found in the above-RMB200,000 market segment, affordably bringing a new flagship for the AI-defined smart mobility era to younger audiences.
During the event, XPENG also announced its new goal for the next ten years: to become a global AI-defined automotive company. Accordingly, the Company unveiled its AI architecture as well as the XPENG Turing chip that is applicable to robots, AI-defined cars and eVOTLs. The Company also introduced XPENG’s next-generation AI Hawkeye Visual Solution - China’s first mass-produced visual-based solution for high-level ADAS that’s not reliant on LIDAR.
In August, XPENG rolled out its over-the-air (OTA) AI Tianji XOS 5.2 upgrade to all eligible overseas owners, bringing them a seamless OTA experience at an unprecedented speed. In August, XNGP’s monthly active user penetration rate in urban driving reached
(XPENG MONA M03s lined up for nationwide delivery)
About XPENG
XPENG is a leading Chinese Smart EV company that designs, develops, manufactures, and markets Smart EVs that appeal to the large and growing base of technology-savvy middle-class consumers. Its mission is to drive Smart EV transformation with technology, shaping the mobility experience of the future. In order to optimize its customers’ mobility experience, XPENG develops in-house its full-stack advanced driver-assistance system technology and in-car intelligent operating system, as well as core vehicle systems including powertrain and the electrical/electronic architecture. XPENG is headquartered in Guangzhou, China, with main offices in Beijing, Shanghai, Silicon Valley, San Diego and Amsterdam. XPENG’s Smart EVs are mainly manufactured at its plants in Zhaoqing and Guangzhou, Guangdong province. For more information, please visit https://www.xpeng.com/.
Safe Harbor Statement
This announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates” and similar statements. Statements that are not historical facts, including statements about XPENG’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: XPENG’s goals and strategies; XPENG’s expansion plans; XPENG’s future business development, financial condition and results of operations; the trends in, and size of, China’s EV market; XPENG’s expectations regarding demand for, and market acceptance of, its products and services; XPENG’s expectations regarding its relationships with customers, contract manufacturers, suppliers, third-party service providers, strategic partners and other stakeholders; general economic and business conditions; and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in XPENG’s filings with the SEC. All information provided in this press release is as of the date of this press release, and XPENG does not undertake any obligation to update any forward-looking statement, except as required under applicable law.
Contacts:
For Investor Enquiries:
IR Department
XPeng Inc.
Email: ir@xiaopeng.com
Jenny Cai
Piacente Financial Communications
Tel: +1 212 481 2050 / +86 10 6508 0677
Email: xpeng@tpg-ir.com
For Media Enquiries:
PR Department
XPeng Inc.
Email: pr@xiaopeng.com
Source: XPeng Inc.
A photo accompanying this announcement is available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/d3e96044-90c8-4c95-815d-0e6dffd220dc
FAQ
How many vehicles did XPEV deliver in August 2024?
What was XPEV's year-over-year delivery growth in August 2024?
What is the price range of XPEV's new MONA M03 model?
What is XPEV's new long-term goal announced at its 10th Anniversary Gala Night?
