XPeng’s shares fell 3.5% in U.S. premarket trading on Monday after the Chinese electric vehicle manufacturer reported a wider-than-expected loss for the second quarter and missed revenue forecasts.
The company posted a net loss of RMB1.29 per share, compared with a RMB0.29 loss expected by analysts. Revenue rose 8% year-over-year to RMB19.74 billion, missing the RMB20.57 billion consensus estimate. Vehicle sales revenue increased 1% year-over-year to RMB17.05 billion, while gross margin improved to 20.7% from 17.3% a year earlier. Vehicle deliveries totaled 103,295, roughly flat compared with the same period last year.
XPeng’s vehicle margin narrowed to 12.1% from 14.3% a year earlier, though it remained unchanged from the first quarter. The company guided third-quarter vehicle deliveries to a range of 115,000 to 121,000 units, implying a year-over-year change of roughly -0.87% to +4.30%. Total revenue is expected to reach RMB21.7 billion to RMB23.4 billion, representing year-over-year growth of about 6.47% to 14.81%.
Separately, XPeng’s robotics business raised more than $900 million in a funding round led by IDG Capital, with participation from Gaorong Ventures and strategic investments from Tencent and Alibaba. The unit was valued at over $6.3 billion post-money, and XPeng will retain controlling ownership. The proceeds will be used for software and hardware R&D, AI model training, data generation, mass production facilities, and global commercial expansion. XPeng described the round as the largest single private financing in China’s embodied AI industry to date.
