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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.
XPeng Inc. (NYSE: XPEV), a leading Chinese smart electric vehicle company, filed its annual report on Form 20-F with the SEC for the fiscal year ending December 31, 2022, on April 12, 2023. This report contains the Company’s audited consolidated financial statements and is available on the SEC’s website as well as XPeng’s investor relations website. Shareholders can request a hard copy of the annual report free of charge by contacting the Investor Relations Department. XPeng continues to innovate in the smart EV sector, focusing on advanced driver-assistance systems and in-car intelligent operating systems, and aims to meet the needs of technology-savvy consumers in the growing EV market.
XPeng Inc. announced vehicle delivery results for March and Q1 2023, delivering 7,002 Smart EVs in March, a 17% increase from February, and reaching a total of 18,230 deliveries for Q1. The new P7i sports sedan launched in March saw 3,030 deliveries, a 32% month-over-month rise. This launch increased store traffic and test drive volumes. On March 31, XPeng began rolling out its XNGP, a leading full scenario ADAS platform, to G9 Max and P7i Max customers in major Chinese cities. The company's focus remains on smart EV transformation through technology.
Xpeng Inc. (NYSE: XPEV) announces the rollout of its XNGP Advanced Driver Assistance System (ADAS) to select customers in China starting March 31. The initial phase targets customers of the XPENG G9 Max and P7i Max models in major cities like Guangzhou, Shanghai, and Shenzhen, delivered via Over-the-Air updates. XNGP will include upgraded features such as City NGP and enhanced SR 2.0 technology. Additionally, the second phase scheduled for 2H 2023 aims to expand functionalities for complex urban driving scenarios. This initiative reinforces XPENG's commitment to advancing autonomous driving technology.
XPeng Inc. (XPEV) announced its Q4 and fiscal year 2022 financial results, revealing a 39.9% decrease in quarterly revenues to RMB5.14 billion (US$0.75 billion) and 46.8% drop in vehicle deliveries to 22,204 units. Yearly vehicle deliveries rose 23.0% to 120,757, with total revenues at RMB26.86 billion (US$3.89 billion), marking a 28.0% annual increase. However, gross margin fell to 11.5%, and net losses expanded to RMB9.14 billion (US$1.33 billion). The company projects Q1 2023 deliveries between 18,000 and 19,000, with revenues expected to decline further.
XPeng Inc. has launched its new P7i sports sedan for the Chinese market, featuring the industry's most advanced all-scenario driver assistance system, XNGP. The P7i boasts comprehensive performance upgrades, including acceleration from 0 to 100 km/h in just 3.9 seconds and a range of up to 702 km. The vehicle is priced from
XPeng Inc. (NYSE: XPEV) reported a significant increase in vehicle deliveries for February 2023, with a total of 6,010 Smart EVs delivered, marking a 15% rise from the previous month. The company is focusing on expanding its market presence, having opened new retail stores in Denmark and the Netherlands, alongside launching its first European service center in Norway. Additionally, starting March 2023, XPeng will implement advanced driver assistance technology in several cities, enhancing the driving experience for its customers. These developments underline XPeng's strategy for growth and technological advancement in the electric vehicle sector.
XPeng Inc. (NYSE: XPEV) is set to announce its fourth quarter and fiscal year 2022 unaudited financial results on March 17, 2023, before U.S. markets open. An earnings call will follow at 8:00 AM ET. Participants interested in joining by phone must register beforehand and dial in 5 minutes prior to the start time. A replay of the call will be available for a week after the event. XPeng focuses on smart electric vehicles and aims to enhance the mobility experience through advanced technology.
TuneIn and XPENG (NYSE: XPEV) have announced a partnership to integrate TuneIn's live-streaming audio service into XPENG vehicles, including flagship models. This collaboration offers XPENG drivers a premium audio experience with access to over 100,000 radio stations, live sports, and commercial-free news. New XPENG vehicle purchases will include free trial subscriptions to TuneIn Premium, enhancing the infotainment experience through touch and voice controls. This partnership supports XPENG's recent sales expansions in Norway, Denmark, Sweden, and the Netherlands, aligning with its commitment to sustainable mobility and elevating the driving experience.
XPENG has launched its new G9 SUV and P7 sports sedan in Europe, available for order in Denmark, Norway, the Netherlands, and Sweden. Both models were showcased at eCar Expo 2023 in Stockholm from February 3-5. The G9 includes an 800 V powertrain for ultra-fast charging of up to 300 kW, allowing significant range increases in minimal time. The P7 features improved range and fast charging technologies. Both models adhere to stringent European safety standards and are set to start deliveries in mid-2023. The company offers a comprehensive warranty, extending to seven years for orders placed within specified dates.
XPeng Inc. (NYSE: XPEV) reported vehicle deliveries of 5,218 Smart EVs in January 2023, including 2,249 units of the G9 SUV. The delivery figures reflect a seasonal slowdown due to the Chinese New Year holiday, which began mid-January. The company plans to unveil a new version of its P7 smart sedan soon. XPeng focuses on technology-driven Smart EV development, targeting a tech-savvy consumer base. Their manufacturing operations are primarily based in Guangdong, China.
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