XPeng Shares Surge After Robust Q1 Earnings

Published 10 hours agoXPEV

XPeng Shares Surge After Robust Q1 Earnings

XPeng Inc.'s shares have reached a seven-week high following the release of their impressive first quarter results and an optimistic forecast. The electric vehicle maker reported that its revenue hit RMB 6.55 billion, or about $910 million, signifying a substantial 62.3% increase compared to the previous year. Notably, the company's gross margin improved significantly to 12.9% from the prior year's 1.7%, according to cnevpost.com. The adjusted net loss per American Depositary Share narrowed to RMB 1.49 from RMB 2.57, as reported by RTT News.

The company also announced it delivered 21,821 vehicles in the first quarter, marking a 19.7% increase from the previous year. Looking ahead to the second quarter, XPeng is forecasting vehicle deliveries between 29,000 and 32,000 units, expecting year-over-year growth of up to 37.9%. Projected revenue for the period ranges between RMB 7.5 billion and RMB 8.3 billion. Meanwhile, U.S.-listed shares saw a 6.3% rise in premarket trading following these announcements, Reuters reported.

In terms of product development, XPeng has launched two new vehicles—the MONA M03 sedan and the X9 minivan—both featuring advanced driving systems. The company has also set plans to mass-produce Level 3 autonomous vehicles in China by the end of 2025. These strategic moves highlight XPeng’s strong positioning in the electric vehicle market and reflect its commitment to innovation and growth.

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