XPeng Announces Vehicle Delivery Results for February 2021

Rhea-AI Summary

XPeng Inc. (NYSE: XPEV) reported vehicle deliveries of 2,223 Smart EVs for February 2021, comprising 1,409 P7s and 814 G3s. Combined deliveries for January and February show a remarkable 577% year-over-year increase. February deliveries, however, experienced a seasonal decline due to the Chinese New Year holiday. Despite this, the company indicates strong customer demand as activities resume post-holiday. Cumulative P7 deliveries have reached 20,181 since its launch in Q2 2020.

Positive

• 577% increase in vehicle deliveries year-over-year for January and February combined.
• Cumulative P7 deliveries reached 20,181 since Q2 2020.

Negative

• February deliveries showed a seasonal decline due to the Chinese New Year holiday.

XPeng Inc. (“XPeng” or the “Company”, NYSE: XPEV), a leading Chinese smart electric vehicle (“Smart EV”) company, today announced its vehicle delivery results for February 2021.

XPeng delivered a total of 2,223 Smart EVs in February 2021, consisting of 1,409 P7s, the Company’s smart sports sedan, and 814 G3s, its smart compact SUV. Vehicle deliveries in January and February 2021 combined represented a 577% increase year-over-year. Cumulative P7 deliveries reached 20,181 since its launch in the second quarter 2020.

February deliveries reflect the anticipated seasonal decline in deliveries due to the slowdown in the week-long Chinese New Year holiday. The Company is witnessing robust customer demand as sales and delivery activities resumed after the holiday.

About Xpeng

Xpeng is a leading Chinese smart electric vehicle company that designs, develops, manufactures, and markets Smart EVs that appeal to the large and growing base of technology-savvy middle-class consumers in China. Its mission is to drive Smart EV transformation with technology and data, shaping the mobility experience of the future. In order to optimize its customers’ mobility experience, Xpeng develops in-house its full-stack autonomous driving technology and in-car intelligent operating system, as well as core vehicle systems including powertrain and the electrification/electronic architecture. Xpeng is headquartered in Guangzhou, China, with offices in Beijing, Shanghai, Silicon Valley and San Diego. The Company’s Smart EVs are manufactured at plants in Zhaoqing and Zhengzhou, located in Guangdong and Henan provinces, respectively. For more information, please visit https://en.xiaopeng.com.

Safe Harbor Statement

This announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates” and similar statements. Statements that are not historical facts, including statements about Xpeng’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: Xpeng’s goal and strategies; Xpeng’s expansion plans; Xpeng’s future business development, financial condition and results of operations; the trends in, and size of, China’s EV market; Xpeng’s expectations regarding demand for, and market acceptance of, its products and services; Xpeng’s expectations regarding its relationships with customers, contract manufacturer, suppliers, third-party service providers, strategic partners and other stakeholders; general economic and business conditions; and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in Xpeng’s filings with the SEC. All information provided in this press release is as of the date of this press release, and Xpeng does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210301006116/en/

FAQ

What were XPeng's vehicle deliveries for February 2021?

XPeng delivered 2,223 Smart EVs in February 2021, including 1,409 P7s and 814 G3s.

How much did XPeng increase its vehicle deliveries year-over-year?

XPeng's vehicle deliveries increased by 577% year-over-year for January and February combined.

What impact did the Chinese New Year have on XPeng's deliveries?

XPeng's February deliveries experienced a seasonal decline due to the slowdown during the Chinese New Year holiday.

How many cumulative P7 deliveries has XPeng achieved?

Cumulative P7 deliveries reached 20,181 since its launch in the second quarter of 2020.