XPeng Inc. (XPEV) issues H1 2025 update

XPeng Inc. (NYSE: XPEV) issued the following H1 2025 update:

OPERATIONAL AND FINANCIAL HIGHLIGHTS FOR THE SIX MONTHS ENDED JUNE 30, 2025

Total deliveries of vehicles were 197,189 in the six months ended June 30, 2025, representing an increase of 279.0% from 52,028 in the six months ended June 30, 2024.

XPENG’s physical sales network had a total of 677 stores, covering 224 cities as of June 30, 2025.

XPENG self-operated charging station network reached 2,348 stations, including 1,304 XPENG S4 and S5 ultra-fast charging stations as of June 30, 2025.

Total revenues were RMB34.09 billion in the six months ended June 30, 2025, representing an increase of 132.5% from RMB14.66 billion in the six months ended June 30, 2024.

Revenues from vehicle sales were RMB31.25 billion in the six months ended June 30, 2025, representing an increase of 152.8% from RMB12.36 billion in the six months ended June 30, 2024.

Gross margin was 16.5% in the six months ended June 30, 2025, compared with 13.5% in the six months ended June 30, 2024.

Vehicle margin, which is gross profit of vehicle sales as a percentage of vehicle sales revenues, was 12.6% in the six months ended June 30, 2025, compared with 6.0% in the six months ended June 30, 2024.

Net loss was RMB1.14 billion in the six months ended June 30, 2025, compared with RMB2.65 billion in the six months ended June 30, 2024. Excluding share-based compensation expenses and fair value loss (gain) on derivative liability relating to the contingent consideration, non-GAAP net loss was RMB0.81 billion in the six months ended June 30, 2025, compared with RMB2.63 billion in the six months ended June 30, 2024.

Net loss attributable to ordinary shareholders of XPENG was RMB1.14 billion in the six months ended June 30, 2025, compared with RMB2.65 billion in the six months ended June 30, 2024. Excluding share-based compensation expenses and fair value loss (gain) on derivative liability relating to the contingent consideration, non-GAAP net loss attributable to ordinary shareholders of XPENG was RMB0.81 billion in the six months ended June 30, 2025, compared with RMB2.63 billion in the six months ended June 30, 2024.

Basic and diluted net loss per American depositary share (ADS) were both RMB1.20 and basic and diluted net loss per ordinary share were both RMB0.60 for the six months ended June 30, 2025. Each ADS represents two Class A ordinary shares.

Non-GAAP basic and diluted net loss per ADS were both RMB0.85 and non-GAAP basic and diluted net loss per ordinary share were both RMB0.43 for the six months ended June 30, 2025.

Cash and cash equivalents, restricted cash, short-term investments and time deposits were RMB47.57 billion as of June 30, 2025, compared with RMB41.96 billion as of December 31, 2024. Time deposits include restricted short-term deposits, short-term deposits, current portion and non-current portion of restricted long-term deposits, current portion and non-current portion of long-term deposits.

RECENT DEVELOPMENTS

Deliveries in July 2025

Total deliveries were 36,717 vehicles in July 2025.

As of July 31, 2025, year-to-date total deliveries were 233,906 vehicles.

Deliveries in August 2025

Total deliveries were 37,709 vehicles in August 2025.

As of August 31, 2025, year-to-date total deliveries were 271,615 vehicles.

Launch of G7
On July 3, 2025, XPENG officially launched the G7, a smart electric family SUV and started deliveries in the same month.

Launch of Next P7
On August 27, 2025, XPENG officially launched the Next P7, a future luxury sports sedan.

Entry into Agreement on Expanding E/E Architecture Technical Collaboration with the Volkswagen Group
On August 15, 2025, XPENG and the Volkswagen Group announced entry into an agreement on expanding technical collaboration with respect to Electrical/Electronic architecture (“E/E Architecture”). For details, please refer to the announcement of the Company dated August 15, 2025.

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