Written by Cláudio Afonso | info@claudio-afonso.com | LinkedIn | Twitter
XPeng Motors announced on Monday its Q1 2022 Earnings Results reporting $1.18 billion in revenue and a 12.2% vehicles margin, up from 12.0% in the last quarter of 2021. Total deliveries of vehicles were 34,561 in the first quarter of 2022, representing an increase of 159% from 13,340 in the corresponding period of 2021. XPeng’s physical sales network continued expansion with a total of 366 stores, covering 138 cities as of March 31, 2022.
“Our Q1 performance marked a strong start to 2022. Demand for our high-quality EV products was robust and our proprietary suite of technologies continues to lead the industry”, the company said.

Deliveries of the P7 smart sports sedan were 19,427 in the first quarter of 2022, representing an increase of 144% from 7,974 in the corresponding period of 2021. Monthly delivery of the P7 smart sports sedan exceeded 9,000 in March 2022 for the first time.
Deliveries of the P5 smart family sedan sustained ramp-up momentum following its mass-delivery launch in October 2021 and reached 10,486 in the first quarter of 2022, among which over 50% can support XPILOT 3.0 or XPILOT 3.5.
XPeng self-operated charging station network further expanded to 933 stations, including 757 XPeng self-operated supercharging stations and 176 destination charging stations as of March 31, 2022.
Total revenues were RMB7,454.9 million (US$1,176.0 million) for the first quarter of 2022, representing an increase of 152.6% from the same period of 2021, and a decrease of 12.9% from the fourth quarter of 2021.
Revenues from vehicle sales were RMB6,998.8 million (US$1,104.0 million) for the first quarter of 2022, representing an increase of 149.0% from the same period of 2021, and a decrease of 14.5% from the fourth quarter of 2021.
Gross margin was 12.2% for the first quarter of 2022, compared with 11.2% for the same period of 2021 and 12.0% for the fourth quarter of 2021.
Vehicle margin, which is gross profit of vehicle sales as a percentage of revenues from vehicle sales, was 10.4% for the first quarter of 2022, compared with 10.1% for the same period of 2021 and 10.9% for the fourth quarter of 2021.
Net loss was RMB1,700.8 million (US$268.3 million) for the first quarter of 2022, compared with RMB786.6 million for the same period of 2021 and RMB1,287.2 million for the fourth quarter of 2021. Excluding share-based compensation expenses, non-GAAP net loss was RMB1,528.2 million (US$241.1 million) in the first quarter of 2022, compared with RMB696.3 million for the same period of 2021 and RMB1,198.3 million for the fourth quarter of 2021.
Net loss attributable to ordinary shareholders of XPeng was RMB1,700.8 million (US$268.3 million) for the first quarter of 2022, compared with RMB786.6 million for the same period of 2021 and RMB1,287.2 million in the fourth quarter of 2021. Excluding share-based compensation expenses, non-GAAP net loss attributable to ordinary shareholders of XPeng was RMB1,528.2 million (US$241.1 million) for the first quarter of 2022, compared with RMB696.3 million for the same period of 2021 and RMB1,198.3 million for the fourth quarter of 2021.
Basic and diluted net loss per American depositary share (ADS) were both RMB2.00 (US$0.32) for the first quarter of 2022. Non-GAAP basic and diluted net loss per ADS were both RMB1.80 (US$0.28) for the first quarter of 2022. Each ADS represents two Class A ordinary shares.
Cash and cash equivalents, restricted cash, short-term deposits, short-term investments and long-term deposits were RMB41,714.0 million (US$6,580.2 million) as of March 31, 2022, compared with RMB43,543.9 million as of December 31, 2021.
For the second quarter of 2022, the Company expects:
- Deliveries of vehicles to be between 31,000 and 34,000, representing a year-over-year increase of approximately 78.2% to 95.4%.
- Total revenues to be between RMB6.8 billion and RMB7.5 billion, representing a year-over-year increase of approximately 80.8% to 99.4%.
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.
Recently, XPeng Motors held press runs with the recently arrived XPeng P5 model in Sweden. The model has a starting price of 550,000 SEK ($55,800 USD), as announced by the company on March 21, and can be configured here. XPENG P5 will be available in Denmark, the Netherlands, Norway, and Sweden.
Written by Cláudio Afonso | info@claudio-afonso.com | LinkedIn | Twitter