Credit: XPeng

XPeng Earnings: Revenue doubles YoY, Q3 Delivery Guidance disappoints

Written by Cláudio Afonso | | LinkedIn | Twitter

The Guangzhou-headquartered XPeng announced on Tuesday its second quarter financial results reporting total revenue of RMB7,436.3 million, a 97.7% increase year-over-year and a quarterly gross margin of 10.9%, down from 11.9% year-over-year.

For the third quarter of 2022, the EV maker expects to deliver between 29,000 and 31,000, down from the 34,422 vehicles delivered in the second quarter although representing a year-over-year increase of 13.0% to 20.8%.

XPeng has a total revenue guidance for Q3 2022 of between RMB6.8 billion and RMB7.2 billion, representing a year-over-year increase of approximately 18.9% to 25.9%.

In terms of vehicle margin, XPeng reported 9.1% for the second quarter of 2022, compared with 11.0% for the same period of 2021 and 10.4% for the first quarter of 2022.


As of June 30, the company reported RMB 41,339.3 million ($6,171.8 million), compared with RMB43,543.9 million as of December 31, 2021 and RMB41,714.0 million as of March 31, 2022.

The company will host an earnings conference call later today at 8:00 AM eastern time.

Last week, the company unveiled their new S4 superchargers capable of delivering 200km of charge in less than 5 minutes to the new model, XPeng G9. Last week, the company unveiled that received 22,819 pre-orders in the first 24 hours for the upcoming model.

Recently, XPeng CEO He Xiaopeng wrote that he is “very confident in this flagship product” and that the G9 model will be the best SUV under RMB 500,000 and the official launch is scheduled for September 2022.

The superchargers will allow the drivers to take full advantage of the 800V Silicon Carbide (SiC) platform at the 1,000 charging stations already built across China, XPeng said during the Supercharging Media Day.

Recently, the charging network company Plugsurfing announced a partnership with XPeng to provide Norwegian drivers access to over 300,000 charging stations in Europe.

“XPeng drivers in Norway will get Plugsurfing’s charging solution and a cobranded charge key, which gives them access to public charging across Europe through Plugsurfing’s network of 300,000 charge points,” Plugsurfing stated.

The company delivered 11,524 vehicles in July 2022, representing a 43% increase year-over-year and a 24.65% from the previous month. The company delivered a total of 80,507 vehicles in the first seven months of 2022, a 108% increase year-over-year.

Written by Cláudio Afonso | | LinkedIn | Twitter