The electric vehicle maker XPeng announced on Wednesday that delivered 10,125 Smart EVs in May 2022, representing a 78% increase year-over-year. In May, the company delivered 4,224 P7 , 3,686 P5, and 2,215 G3 SUVs. As of May 31, year-to-date total deliveries reached 53,688, representing a 122% increase year-over-year.
The Company resumed double-shift production at its Zhaoqing plant beginning in mid-May as supply chains and key manufacturing areas in China started to gradually recover. XPeng is making every endeavor to accelerate the delivery of its strong order backlog in hand.
The Company continues to upgrade its products and will launch ACC-L and LCC-L via over-the-air (OTA) updates soon. ACC-L and LCC-L will become the industry’s first adaptive cruise control and lane center control function adopting camera and LiDAR based perception. As of the end of April 2022, XPeng operated 954 self-managed charging stations, including 774 supercharging stations and 180 destination charging stations across China.
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.
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.