From GlobeNewswire: 2024-11-19 04:00:00

XPeng Inc. announced a 24.5% increase in quarterly total revenues to RMB10.10 billion, with a gross margin of 15.3%. Vehicle sales revenue reached RMB8.80 billion, representing a 29.0% increase from the second quarter of 2024. The company’s net loss was RMB1.81 billion for the third quarter of 2024. XPeng plans to deliver 87,000 to 91,000 vehicles in the fourth quarter of 2024, a year-over-year increase of 44.6% to 51.3%.Revenue from services and others was RMB1.31 billion, up 90.7% from the same period of 2023. The company had total deliveries of 46,533 vehicles for the third quarter of 2024, an increase of 16.3% from the same period in 2023. XPeng’s physical sales network covered 206 cities with 639 stores as of September 30, 2024. The company’s self-operated charging station network reached 1,557 stations, including 654 ultra-fast charging stations, as of the same date. XPeng has been awarded the highest “AAA” ESG rating by MSCI for the second consecutive year and named the “Industry Mover” by S&P Global for two consecutive years. XPeng hosted its 2024 AI Day event, unveiling cutting-edge technologies, including the Kunpeng Super Electric System, Turing AI Intelligent Driving System, and AI Robot. The company officially launched the P7+ smart electric fastback sedan, equipped with advanced ADAS technology. XPeng’s financial performance has improved significantly, with a gross margin of 15.3% in the third quarter of 2024, compared to negative 2.7% in the same period of 2023. Loss from operations was RMB1.85 billion for the third quarter of 2024, compared to RMB3.16 billion in the same period of 2023. Non-GAAP net loss was RMB1.53 billion for the third quarter of 2024, an improvement from RMB2.79 billion in the same period of 2023. XPeng’s unaudited financial results for the third quarter of 2024 show total revenues of RMB10.10 billion, a 24.5% increase from the second quarter of 2024.



Read more at GlobeNewswire:: XPENG Reports Third Quarter 2024 Unaudited Financial