XPeng reduced its energy consumption density by 50% year-on-year, 2021 ESG Report says

Written by Cláudio Afonso | info@claudio-afonso.com | LinkedIn | Twitter

XPeng published on Wednesday its 2021 Environmental, Social and Governance Report disclosing the most relevant achievements during the year. The EV maker reported a 50% decrease year-on-year of the energy consumption density.

According to the company, the models delivered in 2021 are expected to reduce CO2 emissions by approximately 1 million metric tons over their entire life cycle, compared to conventional gasoline vehicles. Check the full report here.

In addition, XPeng enhanced the following Environmental numbers:

  • Compared to conventional gasoline vehicles, the electric vehicles delivered by XPeng in 2021 will reduce CO2 emissions by approximately 1,000,000 tonnes over their entire life cycle;
  • After the photovoltaic power generation projects of Zhaoqing plant was put into operation, the photovoltaic power generated in November and December was 2,905,000 kWh, equivalent to 1,531 tonnes of CO2 emission reduction;
  • XPeng set up carbon neutrality working group, established projects to reduce carbon emission, and promoted carbon neutrality;
  • The energy consumption density decreased by 50% year-on-year;
  • The XPeng fleet has achieved a material recycling rate of over 97%, much higher than what is required in the Management Requirements for Hazardous Substances and Recycling Rate of Automobiles issued by the Chinese Ministry of Industry and Information Technology;
  • XPeng had established 772 super charging stations across the country, covering a total of 308 cities;

“As a leading Smart EV player in China, we hold a deep sense of responsibility to our customers and the broader community,” said He Xiaopeng, Chairman & CEO of XPeng. “Our leadership in the Smart EV industry emphasizes the positive impact we can make in society as a responsible corporation and we are committed to using technology to bring our vision of future mobility to life, while promoting sustainable social development.”

XPeng’s guiding ESG principles center around its innovative concept of X-SEG (Smart, Efficient and Green). From the establishment and operations of its factory to its core business operations, technology innovation, supply chain management, green manufacturing, product safety management, eco-friendly operations and governance policies, X-SEG provides the framework for decisions.

“XPeng vehicles also achieved record-level safety performance with superior product quality and technology. Notably, the P7 has achieved the C-NCAP five-star safety rating and industry’s first i-VISTA Five Star Intelligent Vehicle Model award. XPeng also strives to make contributions to society through disaster relief, low-carbon education, and has established the XPeng Charity Foundation and XPeng Green Home Fund”, the company said.

Bank of America analyst lowered on Tuesday the firm’s price target on XPeng shares from $46 to $40. The first quarter results reported on Monday by the EV maker came in line with BofA’s forecast with Gross Processing Margin (GPM) at 12.2%, up from 12.0% in the last quarter of 2021.

The company announced on Monday that will launch a news platform called Inside XPeng on May 25 bringing exclusive insights and the latest news to the customers and enthusiasts. According to the teaser posted by the EV maker, Alex Guberman will be hosting and provide insights about the models launched so far, LiDar technology, data, sustainability, future mobility, lifestyle an other areas.

Last week, XPeng opened its first Brand Experience Store in Norway located in Bjørvika, downtown Oslo. The Oslo store is XPeng‘s fourth one, after the opening of locations in Sweden, Denmark, and the Netherlands earlier this year. In June, XPeng will participate in the 35th International Electric Vehicle Symposium (EVS35) 2022 in Oslo, the world’s largest international EV event.

Recently, XPENG G9 was seen under spy mode in China and in Portugal. G9 model will have a starting price lower than the competitors Tesla’s Model Y, Nissan Ariya, and Ford Mustang Mach-E.

The company announced on May 1 that delivered 9,002 Smart EVs in April 2022, representing a 75% increase year-over-year. According to the company, the February deliveries consisted of 3,714 P7 smart sports sedans, 3,564 P5 smart family sedans, as well as 1,724 G3i and G3 smart compact SUVs.

Written by Cláudio Afonso | info@claudio-afonso.com | LinkedIn | Twitter