XPeng reported this Monday its Q4 and 2021 Earnings Results. During Earnings Conference Call, CEO He Xiaopeng showed its confidence on XPeng’s XPILOT 4.0 Version: it “will boast a clear next-generation leap against other mass-produced advanced driver assistance systems. Simply put, under the premise of offering superior safety, the XPILOT 4.0 will feature a more comprehensive set of use scenarios, even wider geographical coverage and a better Q1 vehicle interface and in-vehicle experience for both drivers and passengers.”
The company delivered 41,751 units in the fourth quarter of 2021, growing 222% year-over-year. During the full year of 2021 increased by 263% compared with 2020 and reached 98,155 units.
“Given the underlying next-generation technology architecture of our XPILOT 3.5 and our closed loop of data, we plan to officially launch the XPILOT 4.0 in 2023 to deliver advanced driving assistance experiences spanning full scenarios of both highways and city roads. Simultaneously, we plan to progressively converge our autonomous driving hardware and software platform that enables advanced driving assistance systems for our future vehicle models. There will be at least four models, including both new models and facelift versions of existing models to support the XPILOT 4.0 in 2023.
With that, our XPILOT 4.0 will boast a clear next-generation leap against other mass-produced advanced driver assistance systems. Simply put, under the premise of offering superior safety, the XPILOT 4.0 will feature a more comprehensive set of use scenarios, even wider geographical coverage and a better Q1 vehicle interface and in-vehicle experience for both drivers and passengers.
In addition to that, we will control the cost of that production. We believe that our XPILOT 4.0 has the potential to spread high-level advanced driver assistance system to an even broader customer base, accelerating the transformation from human driving to the era of advanced driver assisted driving. With this becomes — when this becomes a reality in the future, the attach rate of the XPILOT software will naturally be significantly higher than its current level.
We will continue to advance and improve product performance. Also, we will continue to be committed to our in-house full set software development and a platform architecture approach to develop and upgrade our intelligence systems and powertrain systems for Smart EVs. Applying a platform architecture approach to our system management will propel innovations in our power chain manufacturing techniques and processes as well as a BOM cost structure.
I have confidence in our ability to achieve structural improvement of gross margin for our new models, including G9 and ultimately improve overall gross margin. Our medium- and long-term goal is to increase the level of our overall gross margin above 25%. At the same time, we’ll remain dedicated to our vision and execute on our sounding strategy and operational literacy to continuously — to continually boost operational efficiency. Going forward, as we achieve economies of scale, while improving operating leverage, I believe our operating expense ratio will continue to trend downward.”
CLSA analyst Aaron Li initiated coverage of XPeng Motors with a Buy rating and $42 price target. The new price target implies an upside potential of 44.77%, based on the last closing price of $29.01, on Tuesday.
Recently, Morgan Stanley analyst Tim Hsiao lowered the price targets on the Guangzhou-based company to $42 from $71 — a decrease of 40%. XPeng Inc. announced that it will report its fourth quarter and fiscal year 2021 unaudited financial results on March 28th before the open of U.S. markets.
The EV maker reached the production milestone of 100,000 units of its P7 Model. The EV maker reaches the milestone 695 days after starting the production of the sports sedan, on April 27, 2020, representing a new record for pure EV makers from emerging auto brands in China. The accomplishment reflects customers’ recognition of the P7’s quality and smart functionality, as well as the efficiency of XPENG’s production, supply chain management, and sales and service network. — the company added.
According to the photos posted on Weibo by the Car Blogger @汽车拍客阿睿, Xpeng P7 Performance has been under tests bringing LiDAR technology in the headlights and an improved steering wheel, the same used on the G9 model. The G9 SUV model was unveiled last November at Auto Guangzhou 2021 Show, and the company expects to start its deliveries by the end of August 2022.
The company announced that delivered 6,225 Smart EVs in February 2022, representing a 180% increase year-over-year. According to the company, the February deliveries consisted of 3,537 P7 smart sports sedans, representing a 151% year-over-year increase. 2,059 P5 smart family sedans were delivered in February, bringing cumulative deliveries of the P5 to 13,953 since its launch in September 2021. Also 629 G3 & G3i smart compact SUVs were delivered in February.
Written by Cláudio Afonso | email@example.com