XPENG Announces Vehicle Delivery Results for June and First Half 2024
XPeng Inc. announced the delivery of 10,668 Smart EVs in June 2024, a 24% year-over-year increase. This includes 1,687 units of the XPeng X9, which has reached a cumulative total of 13,143 units since its launch. Overall, the company delivered 52,028 vehicles in the first half of 2024, marking a 26% increase from the previous year. XPeng's XNGP technology has achieved an 84% penetration rate for urban driving scenarios and will be available nationwide through an OTA update in July. Additionally, XPeng's AI-powered Tianji OS will receive a major upgrade in Q3 2024, coinciding with its international launch. The company also plans to unveil the all-electric hatchback coupe, Mona M03, in July, which boasts the lowest drag coefficient in its class worldwide.
- 10,668 vehicle deliveries in June 2024, a 24% year-over-year increase.
- 52,028 vehicle deliveries in the first half of 2024, up 26% from the previous year.
- XNGP's 84% penetration rate in urban driving scenarios.
- Significant OTA update for XNGP in July.
- Major upgrade to AI Tianji OS in Q3 2024.
- Mona M03 boasts the lowest drag coefficient in its class worldwide.
- None.
Insights
XPeng's delivery figures for June 2024 show a notable improvement, both on a year-over-year and month-over-month basis. The company delivered 10,668 vehicles in June, reflecting a
However, investors should temper their optimism with a cautious approach. While delivery numbers are promising, they are just one part of the financial health puzzle. Investors must also keep an eye on XPeng's revenue growth, profit margins and operational efficiency. Given the competitive landscape in the EV market, XPeng will need to continue innovating and managing costs effectively to maintain profitability and market share.
Overall, the increase in deliveries bodes well for XPeng's market position and could positively impact its stock price in the short term. However, sustained growth will depend on the company's ability to navigate competitive pressures and macroeconomic factors.
XPeng's announcement highlights significant advancements in their technology, particularly in their AI and autonomous driving capabilities. The XNGP penetration rate of 84% in urban driving scenarios signals robustness in their semi-autonomous driving technology. The upcoming nationwide availability of XNGP via an OTA update is a milestone, positioning XPeng competitively against other autonomous vehicle pioneers.
The expected upgrade to the AI Tianji OS in the third quarter, coupled with its overseas launch, underscores XPeng's commitment to enhancing user experience and expanding its technological footprint. This could lead to increased consumer adoption and brand loyalty, as a seamless and intuitive in-car AI system is becoming a significant differentiator in the EV market.
For retail investors, these technological improvements not only justify current valuations but also provide a glimpse into XPeng's strategic direction. Success in these areas could drive higher consumer engagement and potentially greater market share in the long term.
10,668 vehicles delivered in June 2024, a
GUANGZHOU, China, July 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 June and first half of 2024.
In June, XPENG delivered 10,668 Smart EVs, representing a
In addition, the monthly active user penetration rate of XNGP in urban driving scenarios reached
A major upgrade to AI Tianji OS, XPENG’s AI-powered in-car operating system, is also slated for the third quarter of this year, along with its official overseas launch.
In July, the Company will unveil more details about the all-electric hatchback coupe, Mona M03. Boasting AI-powered aesthetic precision and appeal, Mona M03’s dynamic grace echoes the golden ratio of classic sports coupes. Notably, Mona M03 offers the lowest drag coefficient at a mere 0.194 among all mass-produced models in its class worldwide.
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.
FAQ
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How many vehicles did XPeng deliver in the first half of 2024?
What is the delivery performance of XPeng's X9 model?
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What are the upcoming updates for XPeng's technologies in July?
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