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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. has appointed Ms. Fengying Wang as President, effective January 30, 2023. With over 30 years of experience in the automotive industry, Ms. Wang's role will encompass product planning, portfolio management, and sales operations, reporting to Chairman and CEO Mr. He Xiaopeng. Her extensive background includes leadership positions at Great Wall Motor Company, which positions her to enhance XPeng's smart electric vehicle (EV) strategy. The company emphasizes its commitment to leveraging Ms. Wang's expertise to drive innovation and growth in the competitive smart EV market.
XPENG (NYSE: XPEV) announced the opening of four new Delivery and Service Centers in Norway, The Netherlands, Sweden, and Denmark in the first half of 2023. These centers will enhance the delivery of XPENG’s latest electric vehicles and improve customer experience with services like pre-delivery inspections and aftersales support. The centers will feature comprehensive service agreements, including an eight-year battery warranty, and offer remote diagnostics via OTA updates. Additional authorized service locations will also open throughout Europe by the end of 2023.
XPeng Inc. reported a significant increase in vehicle deliveries, announcing 11,292 Smart EVs delivered in December 2022, up 94% from November, and 22,204 for Q4 2022. Cumulatively, the company delivered 120,757 vehicles in 2022, marking a 23% year-over-year rise, with total deliveries reaching 257,710 by year-end. The flagship G9 SUV saw a notable 160% increase in deliveries month-over-month. Additionally, the G9 was recognized as one of China's Top 10 Cars of the Year and received a 5-star Certification in the China Auto Health Index.
XPeng Inc. reported vehicle deliveries of 5,811 Smart EVs in
XPeng Inc. (NYSE: XPEV) reported Q3 2022 results with total revenues of RMB6.82 billion (US$0.96 billion), a 19.3% year-over-year increase but an 8.2% decrease from Q2. Vehicle deliveries reached 29,570, up 15%, and gross margin was 13.5%, down 0.9 percentage points year-over-year. The net loss for the quarter was RMB2.38 billion (US$0.33 billion), compared to RMB1.59 billion in Q3 2021. The company expects Q4 deliveries between 20,000 and 21,000, a decline of approximately 49.7% to 52.1%, with revenues between RMB4.8 billion and RMB5.1 billion, reflecting decreased market demand.
XPeng Inc. (NYSE: XPEV) will report its third quarter 2022 unaudited financial results on November 30, 2022, before U.S. markets open. An earnings call is scheduled for 8:00 AM ET on the same day. Participants can register via a provided link to join the call. A live and archived webcast will also be accessible through the company’s investor relations website. The replay of the call will be available until December 7, 2022. XPeng is a leading Chinese Smart EV company focused on technology and data to enhance mobility.
XPeng Inc. has successfully completed its debut issuance of RMB964 million (approx. US$133.5 million) in carbon-neutral asset-backed securities (ABS) on the Shanghai Stock Exchange. This marks the company's second ABS issuance in China, following its first on the Shenzhen Stock Exchange earlier this year. The issuance achieved record-low coupon rates among Chinese emerging automakers, with rates of 2.80% and 3.00% for senior tranches rated AAA and AA+, respectively. XPeng's strong ESG initiatives contributed to this positive investor reception.
XPeng Inc. has secured the Guangzhou Intelligent Connected Vehicle Road Test Permit, making its G9 model the first unmodified commercial vehicle permitted for autonomous driving tests on public roads in China. This milestone advances XPeng's goal of mass-producing robotaxis and commercializing them as a service. The approval highlights the company's capabilities in autonomous driving technology and builds a foundation for future cost efficiencies. The G9 utilizes existing hardware and software upgrades to conduct the tests, aligning with XPeng's vision for smart mobility solutions.
XPeng Inc. reported strong delivery numbers for October 2022, with a total of 5,101 Smart EVs delivered, contributing to a year-to-date total of 103,654 vehicles, marking a 56% increase compared to the previous year. The G9 Flagship SUV began mass deliveries on
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