Xpeng Reports Record Quarterly Revenue Amid Surging Deliveries

Chinese electric vehicle manufacturer Xpeng posted record quarterly revenue as vehicle deliveries surged despite an ongoing industry price war. The Guangzhou-based company projected revenue between 19.6 billion yuan ($2.73 billion) and 21 billion yuan, marking a potential 108% year-over-year increase. Deliveries are expected to reach 118,000 units—more than double last year's figures.

US-listed shares of Xpeng ROSE over 4% following the announcement. The company reported second-quarter revenue of 18.27 billion yuan, a 125% annual jump, though slightly below analyst expectations. Deliveries hit a record 103,181 vehicles, a 242% increase from the prior year.

Net losses narrowed sharply to 480 million yuan, the lowest since 2020, reflecting a 63% improvement year-over-year. Cost-cutting measures and an optimized product mix boosted vehicle margins to 14.3%, more than double the previous year's level.