Written by Cláudio Afonso | LinkedIn | X
Xpeng, China’s electric vehicle manufacturer, announced on Saturday that it delivered 10,146 vehicles in May, marking a 35 percent year-on-year increase. The company, led by He Xiaopeng, is gearing up to launch its sub-brand Mona in June.
Mona, which stands for “Made Of New AI,” aims the affordable andAI-driven smart cars among young consumers. At the Beijing Auto Show in late April, the chief executive said the upcoming model will target the recently launched SU7, the inaugural Xiaomi car.
‘In the second half of this year, it is expected to have better sales than Lei Jun’s Xiaomi car SU7,’ He Xiaopeng stated before adding that the new brand model will have a different positioning from the current Xpeng electric vehicles.
The Guangzhou-headquartered brand’s three-row MPV, the X9, achieved monthly deliveries of 1,625 units, bringing its cumulative total to 11,456 units.
The company said recently that it expected to deliver between 29,000 and 32,000 vehicles in the second quarter of the year, representing a yearly growth of 25 to 37.9 percent.
Xpeng‘s year-to-date deliveries are up 26 percent from 2023, with 41,360 vehicles delivered over the first five months of the year.
During Xpeng’s AI Day event on May 20, 2024, the company officially announced the rollout of its AI-powered in-car operating system AI Tianji OS — also known as XOS 5.1.0.
Xpeng recently reported its first-quarter earnings, revealing a 49.8 percent drop in total revenues quarter-over-quarter to 6.55 billion RMB. Despite the revenue decline, the gross margin surged to 12.9 percent in the first quarter of 2024, up from 1.7 percent in the corresponding period of 2023 and 6.2 percent in the fourth quarter of 2023.
In the first month of the quarter, the Guangzhou-based EV maker delivered 9,393 vehicles, of which 1,959 were Xpeng’s recently launched fully electric MPV X9. Based on that, Xpeng
China’s manufacturer Xpeng delivered 9,393 vehicles in April, of which 1,959 were Xpeng’s recently launched fully electric MPV X9. The April figures represent a 33 percent increase year-on-year and a sequential growth of 4 percent.
For the second quarter of the year, the brand expects its total revenues to be between 7.5 billion and 8.3 billion RMB, representing a year-over-year increase of 48.1 percent to 63.9 percent.
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Last week, Xpeng‘s CEO He Xiaopeng, in which Volkswagen holds a 4.99 percent stake, visited Hefei, where both the German automaker and its upcoming competitor Nio have production plants.
While Nio focuses on the premium segment with models priced above those of Xpeng, the sub-brand Onvo is set to launch in a few days, with its first model, the L60, directly competing with Xpeng‘s entry-level SUV, the G6. In addition, Xpeng is preparing to launch also a sub-brand, called Mona, in June.
The CEO arrived in the brand’s flagship SUV, the G9, and was hosted by William Li for a tour of Nio’s complex in Neopark. There, Xiaopeng delivered the brand’s MPV model, the X9, to Nio‘s CEO, William Li.
Written by Cláudio Afonso | LinkedIn | X
