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Xpeng Q2 revenue rises 8% as net loss nearly triples
CnEVPost • • business
Key Points:
- Xpeng reported second-quarter revenue of 19.74 billion yuan ($2.91 billion), up 8.0% year-on-year, with a gross margin increase to 20.7%, driven largely by growth in services and other businesses.
- Despite revenue growth, Xpeng's net loss nearly tripled year-on-year to 1.34 billion yuan, although it narrowed 24.7% sequentially; rising R&D and marketing expenses contributed to continued profitability challenges.
- Vehicle deliveries in Q2 were 103,295 units, nearly flat year-on-year but up 64.8% sequentially, with third-quarter delivery guidance set between 115,000 and 121,000 vehicles, indicating expected sequential growth.
- Xpeng's chairman highlighted confidence in upcoming models following recent successes and anticipated accelerated commercialization of physical AI technologies within the next year.
- The company’s robotics subsidiary Dogotix secured $900 million in conditional funding at a $6.3 billion valuation, creating a separate capital channel while allowing Xpeng to maintain control.
