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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. reported a robust performance in March 2022, delivering 15,414 Smart EVs, marking a 202% increase year-over-year and a 148% month-over-month growth. For Q1 2022, total deliveries reached 34,561 vehicles, reflecting a 159% increase year-over-year. Among March deliveries, the P7 smart sports sedan saw an impressive milestone with over 9,000 units delivered. As of March 31, 2022, cumulative deliveries stood at 172,514 vehicles.
XPeng reported its fourth-quarter 2021 results showcasing robust growth. Quarterly vehicle deliveries reached 41,751, up 222% year-over-year, contributing to total revenues of RMB8,556.0 million (US$1,342.6 million), a 200.1% increase. The gross margin improved to 12.0%, up 4.6 percentage points year-over-year. Despite strong revenue growth, the company reported a net loss of RMB1,287.2 million (US$202.0 million). For the full year, XPeng delivered 98,155 vehicles, achieving total revenues of RMB20,988.1 million and a 12.5% gross margin.
The XPENG P7 smart sports sedan has become the first Chinese pure-EV model to achieve the production milestone of 100,000 units, reaching this mark in just 695 days since its launch on April 27, 2020. This accomplishment highlights the P7's recognition by customers for its quality and smart features, as well as XPENG's efficient production and supply chain. Additionally, the company launched the P7 562E Black Label Edition, which is set to debut on April 10, 2022, further expanding their EV offerings.
Rockets Capital announced the successful first closing of over US$200 million in capital commitments, led by strategic anchor investor XPeng Inc. (NYSE: XPEV). The fund focuses on venture and growth investments in the Smart EV sector and clean energy. Rockets Capital aims to leverage XPeng's expertise to nurture new technologies and provide strong investment returns. The fund's team comprises experienced professionals from leading Smart EV firms.
XPENG, a smart electric vehicle leader, has joined three prominent European automobile associations:
XPENG has launched its latest smart EV model, the XPENG P5 sedan, in Denmark, the Netherlands, Norway, and Sweden, marking a significant step in its European expansion. The company also opened its second Experience Store in Europe, located at Westfield Mall in the Netherlands. The P5 features advanced driver assistance technology and a driving range of 465 km, underpinned by a 66 kWh battery. Reservations for the P5 are available online, with test drives starting in April 2022.
XPeng Inc. (NYSE: XPEV) will report its Q4 and FY 2021 unaudited financial results on March 28, 2022, before U.S. market opens. An earnings call is scheduled at 8:00 AM ET on the same day, allowing investors to gain insights into the company's performance. For participation, dial-in details are provided for various regions, and an archived webcast will be available on the company's investor relations website. XPeng continues to focus on developing Smart EVs with advanced technology to meet the growing demand from tech-savvy consumers.
XPeng Inc. reported a significant milestone with 6,225 vehicle deliveries in
XPeng Inc. successfully concluded the issuance of RMB775 million ($122 million) in automobile leasing asset-backed securities (ABS), marking its inaugural ABS in the home capital market.
This issuance, the first carbon-neutral automobile ABS on the Shenzhen Stock Exchange, reflects XPeng's commitment to sustainability and ESG initiatives. The ABS attracted significant institutional interest, achieving the lowest coupon rates among Chinese emerging automakers, with the senior A tranche at 3.00% and senior B tranche at 3.50%. Furthermore, XPeng will be included in the Hang Seng TECH Index effective March 2022.
XPeng Inc. (NYSE: XPEV), a leading Chinese smart electric vehicle manufacturer, will be included in the Hang Seng TECH Index effective March 7, 2022. This addition highlights XPeng's status as a technology leader in smart mobility and signifies investor confidence in its future prospects. The Hang Seng TECH Index represents the top 30 technology firms in Hong Kong, and the inclusion of 'Autonomous' technology as a theme underscores XPeng's commitment to innovation in self-driving and smart vehicles. XPeng aims to transform smart mobility through advanced technology.
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