Earlier today, XPeng announced that delivered 10,125 vehicles in May, a 78% increase year-over-year. Morgan Stanley analyst Tim Hsiao enhanced today on a note that the EV maker resumed double-shift production during the last week of May which will allow the company to deliver between 11.9 and 14.9 thousand units in June.
“Cumulative April and May sales reached 56-62% of the company’s 2Q guidance of 31-34k, implying XPeng will need to grow deliveries to 11.9-14.9k, or a 17-47% MoM increase, in June, which we view as undemanding, considering XPeng resumed double-shift production at its Zhaoqing plant from the last week of May,” Hsiao said.
“As for OTA upgrade, the company will soon launch ACC-Land LCC-L(L stands for LiDAR), which will carry out the industry’s first adaptive cruise control and lane center control function powered by camera and LiDAR-based perception,” he concluded.
Last week, the EV maker released a new update for its XPILOT Intelligent Driving assistance System and the OS Xsmart getting a step closer to deliver full autonomous driving.
Recently, 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.