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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) has launched the Xmart OS 2.6.0 via an over-the-air upgrade for P7 customers in China. This update introduces the Valet Parking Assist (VPA) beta, along with more than 10 enhanced autonomous driving and voice assistance features. VPA allows for automatic parking without the need for infrastructure modifications, capable of memorizing up to 100 parking spaces and navigating complex scenarios. The P7 Premium and Wing edition models, equipped with XPILOT 3.0, are eligible for this feature following a driver safety test.
XPeng Inc. (NYSE: XPEV), a leading Chinese smart electric vehicle company, reported a remarkable 483% year-over-year increase in vehicle deliveries for May 2021, totaling 5,686 Smart EVs. This figure includes a record 3,797 P7 deliveries and 1,889 G3s, marking a 10% increase from April. Year-to-date deliveries reached 24,173, up 427% year-over-year. The strong performance highlights the appeal of XPeng's advanced features and the successful launch of new models, including the P7 Wing edition and LFP battery versions.
XPeng Inc. (NYSE: XPEV) has reported a significant milestone with its smart EVs completing over 380,000 over-the-air (OTA) upgrades. Since January 2019, the company has rolled out 23 firmware updates for its G3 and P7 models, adding 134 new functions and optimizing 2,326 functions. XPeng's advancements in technology allow upgrades across various systems, including autonomous driving and battery management. The launch of the XPILOT 3.0 has enabled the company to monetize its software for the first time, with an attach rate exceeding 25% among eligible P7s.
XPeng Inc. (NYSE: XPEV) reported strong Q1 2021 results, delivering 13,340 vehicles, up 487.4% YoY, and achieving revenues of RMB2,950.9 million (US$450.4 million), representing a 616.1% increase from Q1 2020. Vehicle sales contributed RMB2,810.3 million, up 655.2% YoY. Gross margin improved to 11.2%, while net loss narrowed to RMB786.6 million (US$120.1 million). Cash reserves stood at RMB36,201 million (US$5,525.4 million). The company projects Q2 deliveries between 15,500 and 16,000 vehicles with revenues of RMB3.4 billion to RMB3.5 billion.
XPeng Motors (NYSE: XPEV) has expanded its own-brand charging network to 1,140 stations across 164 cities in China, featuring 19,019 free charging and supercharging piles. As the first Chinese EV maker to offer free lifetime charging, XPeng emphasizes customer convenience and support for smart EV adoption. Recently, 13 new charging stations were launched along the Sichuan-Tibet expressway, providing access every 170 km. The company plans to extend this network to 200 cities, covering more locations including highways and airports, by the end of 2021.
XPeng Inc. (NYSE: XPEV) will release its unaudited financial results for Q1 2021 on May 13, 2021, before U.S. market opening. An earnings conference call is scheduled for the same day at 8:00 AM ET (8:00 PM Beijing/Hong Kong). Investors can join the call via dial-in or through a webcast available on the Company’s investor relations website. A replay will be accessible for two weeks post-call. XPeng develops smart electric vehicles and focuses on autonomous driving technology and intelligent operating systems.
XPeng Motors (NYSE: XPEV) has launched its latest model, the XPeng P5, touted as the world's first smart EV with automotive-grade LiDAR technology. This model introduces Navigation Guided Pilot (NGP) capabilities for urban driving, leveraging XPeng's autonomous driving system, XPILOT 3.5. The P5 is designed to be family-friendly, featuring advanced tech and spacious interiors. It will be showcased at the upcoming Auto Shanghai 2021 on April 19. The vehicle emphasizes XPeng’s commitment to technological innovation and aims to enhance the user experience in smart EVs.
XPeng Inc. (NYSE: XPEV) will introduce its new XPeng P5 smart sedan during a press briefing on April 14, 2021, in Guangzhou, China. The P5 is notable for being the world's first mass-produced smart EV featuring automotive-grade LiDAR technology, driven by XPeng's autonomous driving system, XPILOT. The event will showcase the P5's design, architecture, and functionalities of the next-generation XPILOT 3.5 system. More details will be revealed at Auto Shanghai 2021 on April 19.
XPeng Inc. (NYSE: XPEV), a Chinese smart electric vehicle company, has signed a cooperation agreement with the City of Wuhan to establish a new Smart EV manufacturing base. With an annual capacity of 100,000 units, the facility will be constructed on over 733,000 square meters, supported by the Wuhan government. This strategic expansion aims to enhance XPeng's supply chain and production capabilities in a key automotive hub, aligning with the significant growth of China’s Smart EV market. The move also aims to create innovation clusters and job opportunities in Wuhan.
XPeng Inc. (NYSE: XPEV) reported impressive delivery results for March and Q1 2021, delivering a total of 5,102 Smart EVs in March, a 384% increase year-over-year, and achieving record quarterly deliveries of 13,340 Smart EVs, up 487% year-over-year. The growth is attributed to enhanced brand recognition, an expanded product lineup, and strategic improvements in sales and service networks. Notably, XPeng has reached a cumulative total of 50,000 Smart EV deliveries and plans to launch new models, including LFP battery-powered vehicles, advancing its autonomous driving technology.
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