XPeng Q1 loss widens to 1.78b yuan

China's carmaker XPeng (9868) saw its first-quarter net loss widen by 168.7 percent year-on-year to 1.78 billion yuan (HK$2.06 billion) on lower vehicle deliveries.

Its revenue fell 17.6 percent to 13.03 billion yuan, among which vehicle sales dropped 23.5 percent to 11 billion yuan.

Total deliveries of vehicles were 62,682 for the first quarter, down 33.3 percent from a year ago.

XPeng expected that the number of deliveries would reach between 100,000 and 106,000 in the second quarter, representing a year-on-year change of approximately -3.08 percent to 2.73 percent.

The company also estimated revenue to rise 7.25 percent to 13.82 percent in the quarter ended June, which is between 19.6 billion and 20.8 billion yuan.

Chairman and chief executive He Xiaopeng said: "This year, I am dedicated to leading our team to achieve the mass production of Robotaxis and humanoid robots. We are nurturing a global business ecosystem to transform physical artificial intelligence technologies into new growth drivers for revenue and profit.”

𝗗𝗼𝘄𝗻𝗹𝗼𝗮𝗱 𝗧𝗵𝗲 𝗦𝘁𝗮𝗻𝗱𝗮𝗿𝗱 𝗔𝗽𝗽 ↓