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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. (XPEV) announced impressive financial results for Q2 2021, highlighting a record delivery of 17,398 vehicles, up 439% year-over-year. Total revenues surged to RMB3,761.3 million (US$582.5 million), reflecting a 536.7% increase from Q2 2020. Gross margin improved to 11.9%, compared to a loss in the same period last year. Despite these gains, net loss reached RMB1,194.6 million (US$185.0 million). Looking ahead to Q3 2021, XPeng projects deliveries between 21,500 and 22,500 vehicles, with revenues estimated between RMB4.8 billion and RMB5.0 billion.
XPeng Inc. has commenced its first export of the P7 smart sedan to Norway, marking a significant step in its international expansion. The first deliveries are anticipated in Q4 2021. The P7, following the G3 SUV's success in Norway, highlights XPeng's commitment to global market growth, with over 40,000 units delivered in China since mid-2020. The vehicle boasts advanced features tailored for local preferences, including a long-range battery and a smart cockpit. XPeng aims to strengthen its presence in Norway, leveraging the country's robust EV adoption and infrastructure.
XPeng Inc. (NYSE: XPEV) has commenced the Phase Two expansion of its Zhaoqing Smart EV Manufacturing Base in Guangdong Province. This project, supported by the Zhaoqing Municipal Government, will double the production capacity from 100,000 to 200,000 units annually. The expansion aims to meet the growing consumer demand for XPeng's smart electric vehicles, enhancing its market position. XPeng's ongoing commitment to innovation in autonomous driving technology and smart EVs continues to drive its development strategy.
XPeng Inc. (NYSE: XPEV) has announced that it will report its second quarter 2021 unaudited financial results on August 26, 2021, before the U.S. market opens. An earnings conference call will be held at 8:00 AM U.S. Eastern Time on the same day, with various international dial-in options provided. The call will be available for replay until September 2, 2021. XPeng is a prominent Chinese Smart EV company focused on developing advanced electric vehicles and autonomous driving technology, aiming to enhance the mobility experience.
XPeng Inc. (NYSE: XPEV) reported record vehicle deliveries for July 2021, achieving 8,040 Smart EVs, a remarkable 228% year-over-year increase and a 22% rise from the previous month. The July figures included 6,054 P7s and 1,986 G3s. Year-to-date deliveries reached 38,778 units, up 388% year-over-year. The company also introduced the G3i facelift and announced the P5 sedan’s presale prices, expected to launch in Q3 2021, featuring auto-grade LiDAR technology.
The XPeng P7 has achieved a remarkable 5-star safety rating with a total score of 89.4% and the highest active safety score of 98.51% among electric vehicles in China, according to C-NCAP results. The P7 scored 92.61% in occupant protection, excelling in frontal and side impact tests. Its engineering includes advanced collision prevention features, minimizing injury risk. XPeng's commitment to safety is reflected in two years of optimization and extensive testing, ensuring top-tier protection for occupants.
XPeng Inc. (NYSE: XPEV) launched the presale of its P5 smart sedan on July 17, with a price range of RMB 160,000 to RMB 230,000. The P5, equipped with advanced LiDAR technology, offers six versions and is designed to enhance autonomous driving features with XPILOT 3.5. The model aims to enrich XPeng's product line and redefine driving experiences through a multi-functional digital cockpit. Consumer response has been enthusiastic, particularly for LiDAR-equipped versions, with official deliveries expected in Q4 2021.
XPeng Inc. (NYSE: XPEV) announced that its P7 electric sports sedan has received a 5-star rating from the i-VISTA intelligent vehicle testing platform, becoming the first vehicle in China to achieve this rating. The P7 excelled in areas such as smart driving, safety, interaction, and energy efficiency, gaining 'Excellent' ratings across multiple categories including lane change assist and AEB emergency braking. The vehicle boasts advanced autonomous driving features powered by a range of sensors and a high-performance Qualcomm chip, enhancing its interactive capabilities and driving experience.
XPeng Inc., a prominent Chinese smart electric vehicle company, has launched the G3i smart SUV, a revamped version of the original G3, priced between RMB149,800 and RMB185,800 post-subsidies. Deliveries are set to commence in September 2021. The G3i features a modern exterior design, enhanced intelligent systems, and an advanced autonomous driving assistance system. The original G3 has been successful in the market, ranking first in insurance registrations for A-class pure electric SUVs in Q1 2021. XPeng aims to attract younger consumers with over 50 customizable design options.
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