XPENG Announces Vehicle Delivery Results for May 2024
XPeng announced its vehicle delivery results for May 2024. The company delivered 10,146 Smart EVs, marking a 35% year-over-year increase and an 8% rise from April. The XPENG X9 achieved 1,625 unit deliveries, maintaining its top-selling status in China. Year-to-date deliveries reached 41,360, a 26% increase from last year. The XNGP's monthly active user penetration in urban areas was 84%, with a total test mileage exceeding 6.46 million kilometers. During AI Day on May 20, XPENG rolled out its AI-powered in-car operating system, XOS 5.1.0, reinforcing its leadership in AI applications within the auto industry.
- 10,146 vehicles delivered in May 2024, a 35% year-over-year increase.
- 8% month-over-month increase in vehicle deliveries from April to May 2024.
- XPENG X9 recorded 1,625 unit deliveries, maintaining its top-selling position.
- Year-to-date deliveries reached 41,360, a 26% increase year-over-year.
- XNGP's active user penetration rate in urban scenarios hit 84% in May.
- Accredited XNGP on-road test mileage exceeded 6.46 million kilometers by May 2024.
- Full-scale rollout of AI-powered XOS 5.1.0 during AI Day event on May 20, 2024.
- Introduction of world’s first AI Valet Driver, leveraging advanced AI technologies.
- Monthly deliveries of XPENG X9 were only 1,625 units, which might be low for some investors' expectations.
- Cumulative deliveries of XPENG X9 stood at 11,456 units, suggesting slower growth compared to other models.
Insights
XPeng's delivery of 10,146 Smart EVs in May 2024, marking a
Investors should note that XPeng's consistent delivery growth, in both the all-electric MPV and three-row model segments, reflects its ability to meet and exceed consumer expectations. This performance is critical, as it directly contributes to revenue growth and market credibility. However, it is essential to monitor whether this momentum is sustainable in the long term and how it compares with competitors like NIO and Tesla.
The introduction of XPeng’s AI-powered in-car operating system, XOS 5.1.0 or AI Tianji OS, represents a significant technological advancement. The announcement that the system includes the world’s first AI Valet Driver underscores XPeng’s commitment to innovation and leadership in AI integration. This can enhance user experience through advanced functionalities, potentially increasing customer loyalty and attracting new buyers.
The AI Valet Driver, leveraging extensive on-road testing and AI models, offers a competitive edge by addressing urban mobility challenges and easing the driving experience. This feature, combined with an 84% penetration rate of XNGP in urban driving scenarios, signifies a robust and practical application of AI, enhancing the overall value proposition of XPeng’s vehicles.
The XPENG X9's strong monthly deliveries of 1,625 units and its sustained top-selling position indicate a successful market strategy in the all-electric MPV and three-row model segments. This dominance reflects effective market positioning and consumer acceptance, both critical for long-term success in a segment that caters to families and larger groups.
Furthermore, XPeng's progress toward nationwide road coverage for its XNGP by the third quarter of this year will be pivotal. This initiative can enhance the company's market reach and operational reliability, important for maintaining a competitive edge. Investors should watch for how well XPeng executes this plan and whether it translates into increased sales and market share.
10,146 vehicles delivered in May 2024, a
GUANGZHOU, China, June 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 May 2024.
XPENG delivered 10,146 Smart EVs in May, representing a
In May, the monthly active user penetration rate of XNGP in urban driving scenarios reached
During XPENG’s AI Day event on May 20, 2024, the Company officially announced the full-scale rollout of its AI-powered in-car operating system, XOS 5.1.0 or AI Tianji OS, to eligible users. This rollout highlights XPENG’s leading position in end-to-end AI model application in the China auto industry, as well as the world’s first AI Valet Driver that leverages advanced AI technologies.
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
How many vehicles did XPENG deliver in May 2024?
What was the year-over-year increase in XPENG's vehicle deliveries for May 2024?
What is the month-over-month increase in XPENG's deliveries from April to May 2024?
How many XPENG X9 units were delivered in May 2024?
What is the year-to-date delivery figure for XPENG in 2024?
What was the penetration rate of XNGP in urban driving scenarios in May 2024?
How much accredited XNGP on-road test mileage had XPENG accumulated by May 2024?
What significant event did XPENG host on May 20, 2024?
What is the AI-powered in-car operating system XPENG rolled out in May 2024?
