XPENG Announces Vehicle Delivery Results for April 2024
XPENG Inc. reported a 33% year-on-year increase in vehicle deliveries for April 2024, with 9,393 Smart EVs delivered. The X9 MPV achieved nearly 10,000 deliveries since its launch, showcasing steady growth in the electric vehicle market. XPENG also unveiled new AI-powered innovations and announced the launch of XOS 5.1.0, integrating AI into smart cockpits and driving systems, further solidifying its position as an industry leader.
- XPENG reported a 33% year-on-year increase in vehicle deliveries for April 2024, demonstrating strong growth in the electric vehicle market.
- The X9 MPV achieved nearly 10,000 deliveries since its launch, maintaining its status as the top-selling all-electric MPV in China.
- XPENG showcased new AI-powered innovations, including XOS 5.1.0, set for release on May 20, 2024, reinforcing its commitment to smart driving experiences.
- None.
Insights
XPENG's reported delivery of 9,393 vehicles in April, marking a 33% increase year-on-year, demonstrates significant growth within the Smart EV sector. This growth, in conjunction with the X9 MPV nearing 10,000 cumulative deliveries since January, solidifies XPENG's foothold in the market. The positive trend in their year-to-date figures, with a 23% year-on-year increase, mirrors the burgeoning demand for electric vehicles (EVs) in China. XPENG's monthly active user penetration rate for their XNGP in urban driving scenarios hitting 82% indicates a robust adoption rate and customer trust in their Advanced Driver Assistance Systems (ADAS).
The expansion of XPENG's R&D efforts into Germany for its Highway NGP functions emphasizes their strategic initiative to cater to overseas markets, potentially diversifying their revenue streams. XPENG's innovation, demonstrated through the upcoming XOS 5.1.0 release and the development of their XPlanner and AI Valet Driver, suggests a commitment to maintaining technological leadership, which could lead to enhanced product differentiation. The announcement of the new MONA brand indicates XPENG's expansion strategy, likely aimed at capturing a broader customer base with a distinct market approach.
The reported sales figures and technological advancements by XPENG have implications for investors seeking exposure to the EV market. The year-on-year delivery growth is a bullish signal for the company's operational momentum and its ability to scale up production in response to demand. It is also an indicator of the company's market competitiveness, especially in the face of regulatory challenges and competition from other EV manufacturers.
XPENG's R&D progress in autonomous driving technology, particularly the testing of the NGP functions on European highways, indicates strides towards international expansion. This move could enhance investor confidence in the company's long-term growth prospects, provided they successfully navigate the regulatory and competitive landscapes in foreign markets. As XPENG gears up to release its XOS 5.1.0 and introduce the MONA brand, investors should watch for customer reception and market penetration, which will be critical in assessing the short-term to medium-term performance of the company's stock.
- 9,393 vehicles delivered in April 2024, a
33% increase year-on-year - X9 MPV cumulative deliveries nearing 10,000 units since its launch in January
GUANGZHOU, China, May 01, 2024 (GLOBE NEWSWIRE) -- XPeng Inc. (“XPENG” or the “Company,” NYSE: XPEV and HKEX: 9868), a leading Chinese smart electric vehicle (“Smart EV”) company, today announced its vehicle delivery results for April 2024.
In April 2024, XPENG delivered 9,393 Smart EVs, representing a
In April, the monthly active user penetration rate of XNGP in urban driving scenarios reached
During the same month, XPENG successfully conducted tests for its NGP functions on the highways in Germany, making steady progress in the R&D phase toward the rollout of Highway NGP for overseas markets.
At the Beijing Auto Show 2024, XPENG showcased its latest AI-powered innovations, including the XOS 5.1.0 or Tianji OS. The latest XOS represents the industry's first OS integrating AI into both smart cockpits and smart driving, set for release on May 20, 2024.
Pioneering the smart driving experience, XPENG also leads the industry with one of the first neural network-based planning and control large models - XPlanner, enhancing the human-like capabilities of its XNGP ADAS. Moreover, XPENG previewed the AI Valet Driver, leveraging advanced AI for superior visual perception and control. This feature can memorize and customize up to 10 driving routes of 100km each, ensuring seamless nationwide overage regardless of XNGP's availability.
Furthermore, XPENG announced its new brand, MONA (Made of New AI), to debut in June 2024.
About XPENG
XPENG is a leading Chinese Smart EV company that designs, develops, manufactures, and markets Smart EVs that appeal to the large and growing base of technology-savvy middle-class consumers. Its mission is to drive Smart EV transformation with technology, shaping the mobility experience of the future. In order to optimize its customers’ mobility experience, XPENG develops in-house its full-stack advanced driver-assistance system technology and in-car intelligent operating system, as well as core vehicle systems including powertrain and the electrical/electronic architecture. XPENG is headquartered in Guangzhou, China, with main offices in Beijing, Shanghai, Silicon Valley, San Diego and Amsterdam. The Company’s Smart EVs are mainly manufactured at its plants in Zhaoqing and Guangzhou, Guangdong province. For more information, please visit https://www.xpeng.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, 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 United States Securities and Exchange Commission. All information provided in this announcement is as of the date of this announcement, and XPENG does not undertake any obligation to update any forward-looking statement, except as required under applicable law.
Contacts:
For Investor Enquiries:
IR Department
XPeng Inc.
Email: ir@xiaopeng.com
Jenny Cai
Piacente Financial Communications
Tel: +1 212 481 2050 / +86 10 6508 0677
Email: xpeng@tpg-ir.com
For Media Enquiries:
PR Department
XPeng Inc.
Email: pr@xiaopeng.com
Source: XPeng Inc.
