Goldman Sachs reiterated its “Buy” rating on XPeng (NYSE: XPEV) and cut its XPeng stock price target from $24 to $16 on October 23.
The new forecast represents a roughly 33% cut from the previous one, but it still sees the electric vehicle (EV) manufacturer rallying 75% over the next 12 months.
XPeng shares last closed at $9.07, but a notable 4% uptick in pre-market trading has pushed the price up to $9.44 at the time of writing.
XPEV stock price one-day chart. Source: Google Finance XPeng stock still under pressure; Wall Street appears bullish While the market has certainly welcomed today’s uptick, XPEV shares have been under pressure throughout the year. They are now down 11.85% over the past 30 days and 55.6% year-to-date (YTD), reflecting persistent investor concerns about execution and the commercial potential of its technology investments.
However, Wall Street’s average XPEV share price target for the next 12 months still sits at $17.21, according to TipRanks, which implies approximately 89% upside from the current levels. Looking at the analyst compiled by the platform over the past three months, the thesis centres on XPeng’s transformation from a pure electric vehicle manufacturer into a broader physical artificial intelligence (AI) company.
XPEV stock 12-month forecast. Source: TipRanks Of course, the same narrative could also be responsible for the stock pressure, as risks from elevated AI and robotics spending, continued cash burn, overseas tariffs, and weak demand in China are just some of the investors’ concerns.
How does XPeng stock compare to American peers? XPeng currently trades at a price-to-sales ratio of 0.8x, below its estimated fair ratio of 1.2x and the peer average of 1.4x. As such, the stock trades at a premium to the broader U.S. automotive industry average of 0.5x. This suggests that investors are already assigning some value to its technology-driven growth ambitions.
The key question is thus whether future growth can justify that premium. In other words, if XPeng struggles to convert its investments into sustainable revenue and profitability, the valuation gap could narrow. Conversely, stronger vehicle sales and successful commercialisation of the physical AI initiatives could improve investor sentiment.
Featured image via Shutterstock
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China and the European Union (“EU”) have reached an agreement to limit hybrid vehicle imports into the bloc to ease trade tensions and address concerns over growing Chinese automotive exports. The agreement will cap annual hybrid vehicle imports at 350,000 units in the first year, with the quota potentially taking effect Dec. 1, 2026.
When Volkswagen turned to EV maker Xpeng in 2023 to help fix its flailing Chinese business, executives touted the partnership as a shortcut to developing cars tailored for China at the high speed of the local auto sector.
Three years later, the alliance’s first product exemplifies Volkswagen’s descent in the world’s largest car market. The ID. UNYX 08 electric SUV sold an average of 267 vehicles a month between its April launch and August, data from automotive consultancy ThinkerCar show. That’s a fraction of the 3,622 monthly sales Volkswagen initially aimed to achieve this year, according to company planning documents.
The weak debut reflects Volkswagen’s battle to revive its fortunes in China, where it reigned for decades until 2022 as the top automaker. China represents the challenge at the heart of Volkswagen’s global crisis: A market that once contributed nearly 50% of group profits now accounts for about 10%. That stunning reversal has forced the company into the biggest restructuring in its 89-year history.
The UNYX 08 also highlights a persistent problem in Volkswagen's China strategy. Volkswagen (VOWG.DE) recognized the market’s shift toward higher-end technology and sought local partners to catch up. Yet the German automaker struggled to turn those bets into commercial success.
This report is based on a Reuters review of previously unreported company documents and interviews with six people familiar with Volkswagen, including current and former executives and consultants. It shows the automaker's ambitions ran ahead of what its products, pricing and sales strategy could deliver.
Volkswagen sold the UNYX 08 through a nascent and limited distribution network. The vehicle also struggled against newer, software-laden Chinese electric SUVs.
Volkswagen didn’t comment on the sales forecasts in the documents. In a statement, the automaker said its partnership with Xpeng has delivered a new electric architecture to underpin locally made models and support faster vehicle development – a project it said was completed in a record 18 months. The UNYX 08 SUV and the related UNYX 09 sedan were additional outcomes of the tie-up, the company added.
Xpeng (9868.HK) declined to comment.
Problems with the UNYX 08 began with the vehicle itself. The car launched with a price tag of about $34,260. But similarly priced Chinese rivals offered more-sophisticated features. Xiaomi’s YU7 had an advanced sensor package; Zeekr's 7X offered fast charging. Xiaomi sold almost 57,000 YU7s and Zeekr sold more than 21,000 7Xs between April and August, compared with about 1,300 UNYX 08s, according to ThinkerCar.
"Chinese customers ask: Why buy an expensive German car if they can get the technology much cheaper,” said Pedro Pacheco, vice president of research at Gartner.
Stephen Reitman, an auto analyst at Bernstein, recalled that Volkswagen showed analysts computer renderings of the Xpeng-linked models in April 2024. "The next day we went to the Beijing auto show and you could basically see this kind of design already on the market," Reitman said.
A distribution gamble compounded the product’s challenges, five people told Reuters. Volkswagen largely sold the UNYX 08 through a separate, new dealer network run by Volkswagen Anhui, an EV-focused venture, rather than the more than 3,000 dealerships Volkswagen operated with joint-venture partners FAW and SAIC (600104.SS).
Volkswagen Anhui’s far-smaller footprint meant many consumers were unaware the vehicle existed, two of the people said.
Volkswagen said sales of the Anhui models, including the earlier UNYX 06 and 07, were growing. The unit had expanded its sales network to 166 outlets and was working with FAW-Volkswagen at selected dealerships, the company said, adding that this approach aimed to reach more customers.
FAW and SAIC didn’t respond to questions.
For Volkswagen, the Xpeng partnership follows a string of troubled ventures, missed opportunities and abandoned initiatives in China that spanned batteries, autonomous driving, charging infrastructure, software and even flying cars.
Volkswagen was “too slow in building the competence they need today,” said Stefan Bratzel, founder and director of the Center of Automotive Management, a German research institute.
The dilemma faces nearly every foreign automaker in China. Having fallen behind in software, batteries and vehicle platforms, foreign brands have turned to Chinese partners to stay in the game. Yet access to Chinese technology doesn’t guarantee they can match local rivals’ speed, execution or appeal with consumers.
Chinese brands led by BYD and Geely have gained share by bringing software-rich vehicles to market faster and often at lower prices, forcing once-dominant rivals including Volkswagen and Toyota to fight for relevance.
ANOTHER BIG BET
Despite the UNYX 08’s weak reception, Volkswagen is setting similarly aggressive targets for its next model developed with Xpeng, the UNYX 09 sedan. The car is due to reach showrooms this month.
Company product-planning documents earlier this year forecast average monthly sales of nearly 4,900 vehicles, with annual volume exceeding 90,000 by 2034.
At Volkswagen, ambitious forecasts can be essential to securing approval for new models from Wolfsburg headquarters, which can incentivize managers to submit optimistic projections, according to two people familiar with its planning.
Volkswagen initially expected to sell 32,600 UNYX 08s through the end of 2026 and 70,400 next year, the planning documents show. Those plans, made in 2024, show the automaker also expected annual sales of more than 120,000 vehicles later in the product cycle.
But early this year, Volkswagen cut the 2026 projection by more than 60% to 12,300 vehicles, the documents show. It nevertheless forecast sales of 64,000 in 2027, about 10% below the initial target.
In recent weeks, the company has been advertising the UNYX 08 at a 17% discount on the April launch price.
‘MARRIAGE AND DIVORCE’
Volkswagen saw the Chinese disruption coming. At a 2019 presentation for investors and shareholders, Volkswagen Group China said it was preparing nearly 40 locally produced new-energy vehicle models — EVs and plug-in hybrids — by 2025 and could deliver 1.5 million in China that year.
It achieved less than one-tenth of that target, delivering 115,500 battery-electric vehicles in China last year, according to company data.
As China's EV market accelerated, Volkswagen explored various local tie-ups, hoping to unlock the speed and expertise it lacked, according to three people, corporate records and public announcements.
Two people familiar with Volkswagen's China partnerships said the company called this approach "marriage and divorce" – forming alliances with local companies to learn from them, then exiting once it had absorbed what it needed.
Around the time Ralf Brandstaetter became Volkswagen China's chief executive in August 2022, the automaker explored cooperation with BYD – China’s largest EV maker – including potentially using BYD's Dolphin platform for the Jetta brand, according to two people. Those efforts haven’t been previously reported.
During due diligence, Volkswagen staff examining BYD's finances were struck by the Chinese automaker's lower manufacturing costs, one of the people said. BYD (002594.SZ) wasn’t interested in collaborating, the two sources said. Reuters couldn’t establish why a deal didn’t happen.
The Chinese EV maker would seize Volkswagen’s crown as China’s sales leader in 2023.
That same year, Volkswagen also explored a partnership with Leapmotor (9863.HK), according to the two people. Stellantis (STLAM.MI) ultimately struck a deal with Leapmotor later that year.
Volkswagen’s statement didn’t address the BYD and Leapmotor talks. BYD didn’t comment, while Leapmotor didn’t respond to questions.
Some partnerships that did materialize generated new problems rather than solving old ones. Reuters reported in July that Volkswagen's canceled flying-car project had become mired in legal disputes with a Chinese partner.
A venture with Chinese startup Du-Power to build fast-charging stations also went awry. The tie-up, launched in 2020, ended in shareholder disputes, litigation and supplier complaints alleging unpaid bills, corporate filings show. In 2024, the startup sued Volkswagen China and the venture’s executives and directors, alleging harm to its business interests.
Volkswagen told Reuters that China’s Supreme People’s Court dismissed the startup’s claims in March. Neither Du-Power nor the court responded to questions.
‘EXCEPTIONAL’ CONTRACTION
In some ways, Volkswagen’s predicament illustrates the success of China's industrial policy. In exchange for market access, Volkswagen tied up with Chinese automakers, shared technology and invested — only to be outsold by local players.
Those checkered bets are now colliding with a market in convulsion after years of breakneck growth.
In a September 10 message to staff reviewed by Reuters, Brandstaetter described an industry facing an "exceptional" contraction. He said Volkswagen expected China’s passenger-car market to shrink by 20% this year, or about 4.5 million vehicles.
Brandstaetter said industry profit margins had fallen to 1.5%, product cycles had compressed from seven years to three, and new EV models were seeing steep sales declines after three months.
Volkswagen, he wrote, must urgently "align our production capacities with market realities" and eliminate "unnecessary duplication" among China brands and entities — a reckoning with a crisis years in the making.
In 2019, one in five passenger cars sold in China was a Volkswagen. In the first eight months of this year, the group’s share had fallen to 10%, according to the China Passenger Car Association.
What distinguishes Volkswagen’s plight is its deep dependence on China and its struggle to execute a decisive transformation in a market now dominated by Chinese companies. That made its Xpeng bet pivotal.
One former Volkswagen figure compared its predicament to that faced by Nokia, Kodak and BlackBerry: The automaker’s leadership assumed its brands would endure, even as the market shifted toward Chinese competitors with superior technology and faster innovation cycles.
Bill Russo, founder of Shanghai-based advisory firm Automobility, sees the comparison as a useful warning but not yet a verdict. Volkswagen still has a path to recovery, he said.
The risk, he added, “is that the market moves faster than the company can reinvent itself.”
XPENG expands its collaboration with Google to offer Google Play directly inside of its AI-Powered cockpit. Google Play combines hundreds of third-party apps across 100+ countries and regions with XPENG's intelligent capabilities for a richer, more localized in-car experience. The integration is scheduled to go live in early 2027. RAS AL KHAIMAH, UAE, /PRNewswire/ -- XPENG (NYSE: XPEV, HKEX: 9868), a leading Physical AI company, today announced a native integration with Google Play, marking an expansion of its strategic collaboration with Google.
XPENG will offer Google Play within its cars. This direct integration allows XPENG to offer its signature AI-Powered cockpit experience while giving users seamless, phone-optional access to a breadth of automotive-optimized apps available through Google Play. The integration is scheduled to go live in early 2027.
Through Google Play, XPENG users will have access to a thriving global ecosystem, with hundreds of apps from more than 100 countries built for the car screen across music and podcasts, video streaming, navigation, charging and parking, news, gaming while parked, and everyday lifestyle services. Whether relaxing at a charging stop or on the move, drivers can enjoy global services, alongside apps tailored to individual markets.
And because developers continuously publish new apps and updates through Google Play, the in-car experience will continually evolve without requiring major full-vehicle OTA updates.
Built on Android™ Automotive OS, the integration works seamlessly alongside XPENG's intelligent cockpit capabilities, enabling drivers and passengers to use XPENG's multilingual AI-powered voice assistant to open and interact with downloaded apps.
Dr. Xianming Liu, Vice President of XPENG and Head of General Intelligence Center, said, "The best technology partnerships build momentum. Our work with Google Maps demonstrated what our two companies can achieve together to integrate global technologies into a distinctive intelligent vehicle experience. That success created the foundation for deeper collaboration. With Google Play, we are extending that approach from navigation to the wider digital ecosystem, giving our customers an experience that can continue to grow wherever XPENG goes."
Haris Ramic, Android for Cars Product Director at Google, said: "Thanks to a thriving developer community, our in-car app ecosystem continues to grow rapidly. Bringing Google Play to XPENG vehicles gives drivers even more choice to enjoy the entertainment and everyday apps they love right from their dashboard, with no phone required."
Looking ahead, the two companies will continue exploring further collaborations to enable apps to do even more in the car, making digital services an even more natural part of XPENG's driver and passenger experience.
The announcement represents the latest milestone in the collaboration between XPENG and Google. It follows XPENG's successful integration of Google Maps' Auto SDK, announced in July 2026, which introduced a refreshed navigation experience for XPENG drivers and provided foundational map capabilities for the company's advanced driver-assistance systems in overseas markets.
Further details on participating vehicle models, markets, and app availability, which may vary by vehicle model and applicable safety requirements, will be announced in due course.
Google, Android, Google Play, Google Maps, YouTube and other marks are trademarks of Google LLC.
About XPENG
XPENG is a leading global Physical AI company, dedicated to bringing artificial intelligence into the physical world to reshape future mobility and smart living. Through in-house R&D, XPENG has developed a full-stack Physical AI architecture spanning Turing AI chips, world foundation models, and highly integrated software and hardware applications. This unified technology foundation of XPENG powers an expansive product portfolio of smart EVs, robotaxis, and humanoid robots, advancing the deployment of Physical AI at scale.
Headquartered in Guangzhou, China, XPENG is dual-primary listed on the New York Stock Exchange and the Hong Kong Stock Exchange. With global capabilities across R&D, manufacturing, sales, and services, XPENG drives continuous technological innovation and fosters an open Physical AI ecosystem, making life smarter, safer, and better for users worldwide. For more information, please visit https://www.xpeng.com/.
Mr. He Xiaopeng, Chairman & CEO, becomes the first Chinese automotive CEO to deliver a keynote in the history of the Paris Automotive Summit, calling for greater industry collaboration as AI, electrification and globalization reshapes the automotive sector.
Mr. He Xiaopeng introduced XPENG AI Engineering, calling for open collaboration and opening XPENG's full-stack technologies and engineering capabilities to global partners, from vehicle platforms to Physical AI.
XPENG highlighted NGP which is aiming for global market expansion in 2027, alongside clear milestones for its humanoid robot, IRON, targeting mass production in late 2026, initial deliveries in H1 2027, and a European rollout in H2 2027.
, /PRNewswire/ -- Mr. He Xiaopeng, Chairman & CEO of XPeng Inc. ("XPENG" or the "Company,"NYSE: XPEV; HKEX: 9868), a leading global Physical AI company, today called for deeper collaboration across the global automotive industry, as he became the first Chinese automotive CEO to deliver a keynote in the history of the Paris Automotive Summit.
Speaking to automotive industry leaders in Paris, Mr. He outlined how AI, electrification and smart technologies are reshaping the automotive industry, creating new opportunities for technology collaboration across the sector.
The theme of his keynote speech was "Navigating the AI Era: Open Collaboration for a Smarter Future," where he outlined XPENG AI Engineering, XPENG's strategy to combine its Physical AI technology with deeper ecosystem partnerships across Europe and globally.
He emphasized that no single manufacturer holds all the advantages required for the next generation of smart mobility. To accelerate this transition, XPENG is opening its in-house tech stack and engineering resources to key international partners.
Open Technology Collaboration for the AI Era: XPENG AI Engineering
XPENG's approach to collaboration is rooted in its evolution as a Physical AI company, with full-stack technologies spanning chips, models and applications across intelligent vehicles, robotaxis, humanoid robots and flying cars. In intelligent driving, XPENG highlighted NGP powered by VLA 2.0, designed to advance directly from L2 to L4 and deliver the same core capability across China and Europe, as the company prepares to bring advanced intelligent driving to global markets in 2027.
XPENG is also advancing the commercialization of its humanoid robot, IRON, with mass production targeted for late 2026, deliveries beginning in the first half of 2027, and a European rollout planned for the second half of 2027.
As AI expands into the physical world, XPENG believes industry transformation will be driven both from within and beyond automotive. To usher in this new era, XPENG is opening its proprietary technologies and engineering toolchains to global partners - spanning vehicle platforms, E/E architecture, batteries, e-drives, and modular innovations like the AI BOX, Turing AI chip, and Turing physical world foundation model.
Through XPENG AI Engineering, the company is pursuing a model built around complementary strengths, flexible collaboration and independent innovation, enabling partners to co-develop differentiated products while building their own technology capabilities over time.
As a proven example of this mutually beneficial approach, Mr. He highlighted XPENG's strategic collaboration with Volkswagen Group, which brings together XPENG's intelligent-driving and software capabilities with Volkswagen's vehicle engineering and testing expertise.
This latest development builds on XPENG's continued investment in technology and talent. In the first half of 2026, XPENG invested approximately €770 million in R&D.
"Partnership starts with trust, and after trust comes openness," said Mr. He. "We welcome global partners to work with us, learn from each other and bring our strengths together. To bring technology to life and build the future together."
In Europe, For Europe, With Europe
Mr. He also reinforced XPENG's long-term "In Europe, For Europe, With Europe" commitment, centered on producing in Europe, designing for European users and partnering with the region's industrial ecosystem.
XPENG has put four models into production in Europe within one year, including the G6, G9, P7+ and the latest G9L. Its European R&D center serves as a hub for EU homologation and certification, language and interaction localization, intelligent-driving validation, European chassis and handling tuning, and charging-network integration.
XPENG continues to deepen collaboration across Europe's automotive and technology ecosystem, working with local partners as it expands its capabilities in the region.
ENDS
About XPENG
XPENG is a leading global Physical AI company, dedicated to bringing artificial intelligence into the physical world to reshape future mobility and smart living. Through in-house R&D, XPENG has developed a full-stack Physical AI architecture spanning Turing AI chips, world foundation models, and highly integrated software and hardware applications. This unified technology foundation powers an expansive product portfolio of smart EVs, robotaxis and humanoid robots, advancing the deployment of Physical AI at scale.
Headquartered in Guangzhou, China, XPENG is dual-primary listed on the New York Stock Exchange and the Hong Kong Stock Exchange. With global capabilities across R&D, manufacturing, sales and services, XPENG drives continuous technological innovation and fosters an open Physical AI ecosystem, making life smarter, safer and better for users worldwide.
For more information, please visit https://www.xpeng.com/.
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- XPENG officially launches the G9L Next-Gen AI Flagship SUV for Europe, with French pricing starting from [€74,990].
- XPENG NGP powered by VLA 2.0 makes its first large-scale test-ride appearance in Europe. At the Paris Motor Show, NGP is also being showcased in the official Autonomous Lab, which is open to public experience, with XPENG being one of only two participating automakers, alongside Tesla.
- XPENG introduces its AI and vehicle engineering technology solutions overseas for the first time, opening new opportunities for technical collaboration with global automotive and tech partners.
, /PRNewswire/ -- XPeng Inc. ("XPENG" or the "Company,"NYSE: XPEV; HKEX: 9868), a leading global Physical AI company, today launched the G9L Next-Gen AI Flagship SUV for Europe at the 2026 Paris Motor Show, alongside the first global public test ride campaign of XPENG Next Generation Pilot (NGP) powered by VLA 2.0, as well as announcing new technology collaboration opportunities for global automotive partners.
Across its flagship XPENG Paris Night event and the Paris Motor Show, the company showcased three areas at the center of its next phase of global growth - bringing its latest-generation flagship G9L to European users, introducing NGP to European roads, and opening more of its AI and vehicle engineering capabilities to global automotive partners.
Together, these developments advance XPENG's "In Europe, For Europe, With Europe" approach, combining global technology with European R&D, local production and deeper collaboration with partners.
XPENG Paris Motor Show Press Kit:
https://drive.google.com/drive/folders/1I8SLTqDREdDCzeY5YUu8LjLe7jlPI6e2
G9L: XPENG's Next-Gen AI Flagship SUV
Taking center stage in Paris, the G9L brings together intelligent driving, advanced safety, flagship comfort and long-distance capability. Designed around different lifestyles and journeys, from business and family travel to outdoor adventures, the G9L will be priced from [€74,990].
Built around the principle that safety is the ultimate premium, the G9L combines active prevention, passive protection and system redundancy, including nine airbags as standard, automatic emergency braking at speeds of up to 150 km/h and stability support following a tire blowout. It has undergone three years of testing across 26 countries and regions, covering more than 6.74 million kilometers.
Beyond safety, the G9L combines a sophisticated chassis with two seating layouts: 6‑seater and 7‑seater, plus luxury AI-Adaptive Front Seaters. EV variants offer up to 591 km of WLTP range, while its 800V architecture and 5C charging technology enable 10% to 80% charging in as little as 11.7 minutes. Following its successful production trial at Magna in Graz, the G9L is also set to become the fourth XPENG model manufactured in Europe.
XPENG NGP Comes to European Roads
XPENG also introduces XPENG NGP powered by VLA 2.0, supported proprietary Turing AI chips, 4D spatiotemporal understanding and strong generalization across different roads and unfamiliar scenarios. VLA 2.0 can retain up to 30 seconds of contextual information and predict how a scenario may unfold up to six seconds ahead, helping NGP understand, anticipate and respond to changing road conditions. The technology has been tested against complex European driving conditions.
In Paris, NGP is making its first large-scale test-ride appearance in Europe, demonstrating its capabilities across roundabouts, narrow streets, motorcycle traffic, pedestrian crossings and complex right-of-way situations. At the Paris Motor Show, NGP is also being showcased in the official Autonomous Lab, with XPENG one of only two participating automakers.
The test rides demonstrate NGP in European road scenarios including Paris roundabouts, narrow streets, motorcycle traffic, pedestrian crossings and complex right-of-way situations.
XPENG also aims to become the first certified automaker in the world to meet UNECE UN Regulation No. 171, Series 02, supporting the global expansion of its advanced driving software.
Bringing Physical AI to Life in Paris
The three announcements form part of XPENG's broader Physical AI vision on display at the Paris Motor Show, where the company has transformed its 1,008-square-meter stand in Hall 6, Stand A51 into a "Physical AI Museum," bringing together intelligent vehicles, humanoid robots, flying mobility and the underlying technologies that connect them.
The Press Day display brings together 11 vehicles, including the G9L, L03, P7+, G6, G9 and X9, alongside one Land Aircraft Carrier and two IRON humanoid robots. Dedicated technology areas showcase VLA 2.0 and the Turing AI Chip, as well as XPENG's latest developments in humanoid robots and flying mobility. IRON, XPENG's advanced general-purpose humanoid robot, is planned for global rollout in 2027.
In Europe, For Europe, With Europe
XPENG's Paris presence marks a further step in its "In Europe, For Europe, With Europe" approach. Globally, XPENG now operates across 82 countries and regions, supported by eight R&D centers, six manufacturing bases and 1,283 stores.
In Europe, XPENG combines an expanding product portfolio with deeper local R&D and production capabilities. Its European R&D center supports homologation, language interaction, chassis tuning, charging integration and intelligent-driving validation, while local production with Magna in Austria began in Q3 2025.
With the G9L joining its European portfolio and NGP powered by VLA 2.0 being validated against European driving scenarios, XPENG is bringing more of its global technology to Europe, developing it with European expertise and partners, and adapting it for European users.
ENDS
About XPENG
XPENG is a leading global Physical AI company, dedicated to bringing artificial intelligence into the physical world to reshape future mobility and smart living. Through in-house R&D, XPENG has developed a full-stack Physical AI architecture spanning Turing AI chips, world foundation models, and highly integrated software and hardware applications. This unified technology foundation powers an expansive product portfolio of smart EVs, robotaxis and humanoid robots, advancing the deployment of Physical AI at scale.
Headquartered in Guangzhou, China, XPENG is dual-primary listed on the New York Stock Exchange and the Hong Kong Stock Exchange. With global capabilities across R&D, manufacturing, sales and services, XPENG drives continuous technological innovation and fosters an open Physical AI ecosystem, making life smarter, safer and better for users worldwide.
For more information, please visit https://www.xpeng.com/
XPENG's Next-Gen AI Flagship SUV G9L has successfully completed its production trial at Magna's complete vehicle facility in Graz, Austria, becoming the fourth XPENG model to be produced in Europe after the G6, G9 and P7+. Following the successful production trial, the first European G9L will travel 1,324 kilometers from Graz to Paris ahead of its global premiere at the Paris Motor Show on October 12, demonstrating the vehicle's safety, charging and driving dynamics under real-world conditions enabled by the cutting-edge AI technologies.
XPeng Inc. (XPEV - Free Report) , a global Physical AI company, will showcase its latest developments in intelligent mobility, robotics and next-generation transportation at the 2026 Paris Motor Show. The company will use the event to globally debut its next-generation AI flagship SUV, the G9L, marking another milestone in its European expansion.
At its more than 1,000-square-meter exhibition space in Hall 6, XPENG will present an immersive “Physical AI Museum” divided into four sections covering its technology platform, AI-powered vehicles, humanoid robots and flying cars. The exhibition will highlight how the company is extending its technological capabilities beyond traditional automobiles. Its Car-as-a-Robot concept integrates vehicle and robotics technologies on a shared platform, while XPENG is working toward mass production of its IRON humanoid robot and developing flying cars and Robotaxi technology. Alongside the G9L, the company will display the L03, P7+, G6, G9 and X9, giving visitors an overview of its broader Physical AI ecosystem spanning intelligent vehicles, robotics and emerging mobility solutions.
The G9L will be the centerpiece of XPENG’s presence, with its global launch scheduled for Oct. 12, 2026. The next-generation AI flagship SUV combines the company’s latest developments in artificial intelligence, intelligent driving and vehicle technology with a premium SUV experience. It is designed to emphasize safety, driving performance and comfort across various driving scenarios. XPENG will also open European order books and reveal European pricing at the show, signaling the model’s move from its initial China launch toward a broader global rollout.
The G9L will become the fourth XPENG model to be manufactured in Europe as the company continues to expand its local production capabilities. The model reflects XPENG’s strategy of developing products for global markets while increasingly designing and manufacturing vehicles with European customers in mind.
In addition to unveiling the G9L, XPENG will demonstrate its NGP intelligent driving technology through its recently launched L03 SUV coupe. For XPENG, the event will represent its first large-scale NGP test-drive experience outside China and will give European customers and media an early opportunity to experience its latest intelligent-driving capabilities.
XPENG is also working to localize its intelligent-driving technology for European markets, supported by the generalization capabilities of its foundation model. The company continues to expand its European R&D operations to adapt its intelligent-driving systems to local road conditions, traffic patterns and regulatory requirements.
The company is further strengthening its European footprint by expanding its sales and service network and developing local capabilities, including through its European R&D center in Munich. XPENG has delivered more than 100,000 vehicles outside China, including more than 60,000 in Europe. In France, the company has delivered more than 6,000 vehicles since entering the market two years ago.
XPENG is also broadening its European product lineup. Following its global debut in Munich in July 2026, the L03 SUV coupe is preparing for its first deliveries to European customers. Through European intelligent-driving development, local manufacturing and products tailored to regional needs, XPENG is advancing its “In Europe, For Europe” strategy and bringing its global technology capabilities closer to European consumers.
The year 2026 marked another phase of XPENG’s international expansion, with overseas deliveries, retail locations and localized operations continuing to grow alongside the commercialization of its Physical AI technologies. In the second quarter, overseas deliveries exceeded 20,000 units for the first time, representing an 81% year-over-year increase. In August, XPENG’s robotics business raised more than $900 million in its first funding round, making it the largest single-round private financing in China’s embodied AI industry. In September, its advanced general-purpose IRON humanoid robot began production on a newly commissioned manufacturing line, representing an important step toward mass production.
At the show, XPENG will highlight its efforts to translate Physical AI from technological development into practical mobility applications while expanding these capabilities from China to international markets, with Europe becoming an increasingly important part of its global strategy.
XPeng currently has a Zacks Rank #3 (Hold).
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The Zacks Consensus Estimate for MBLY’s 2026 sales and earnings implies year-over-year growth of 5.6% and 36.1%, respectively. The EPS estimate for 2026 and 2027 has improved 3 cents each over the past 60 days.
The Zacks Consensus Estimate for GTX’s 2026 sales and earnings implies year-over-year growth of 7.2% and 25.7%, respectively. The EPS estimate for 2026 and 2027 has improved 5 cents and 4 cents, respectively, over the past 60 days.
XPENG will showcase its Physical AI ecosystem spanning its technology stack, humanoid robots, flying cars and AI-defined vehicles, including the G9L, L03, P7+, G6, G9 and X9. The G9L flagship SUV will make its global launch at the Paris Motor Show, with European order books open and pricing revealed, reinforcing XPENG's premium positioning globally. XPENG and Tesla will be the only automakers participating in the show's official Autonomous Lab, marking XPENG's first large-scale NGP test ride experience outside China. XPENG will present one of the largest stands among Chinese automakers, spanning more than 1,000 square meters in Hall 6 alongside European legacy brands and Chinese counterparts. The Paris Motor Show will showcase XPENG's "In Europe, For Europe" approach through European intelligent-driving development, local production and a growing regional product portfolio. , /PRNewswire/ -- XPeng Inc. ("XPENG" or the "Company,"NYSE: XPEV; HKEX: 9868), a leading global Physical AI company, will make a major appearance at the 2026 Paris Motor Show from October 12 to 18, bringing its latest advances in intelligent mobility, robotics and future transportation to one of Europe's most prominent automotive stages. At the show, XPENG will make the global launch of its Next-Gen AI Flagship SUV, the G9L, marking another milestone in the company's expansion in Europe.
Advancing Physical AI into the Real World
XPENG
XPENG At its more than 1,000-square-meter stand in Hall 6, XPENG will create an immersive "Physical AI Museum" spanning four areas: brand technology stack, AI-defined vehicles, humanoid robots and flying cars.
The exhibition will demonstrate how XPENG is extending its technology foundation beyond the conventional automobile. Its Car-as-a-Robot concept brings vehicle and robotics technologies onto a common platform, while the company is also advancing the mass production of its IRON humanoid robot and developing flying cars and Robotaxi.
Together with the G9L, L03, P7+, G6, G9 and X9, these technologies will offer visitors a view of XPENG's broader Physical AI ecosystem — from intelligent vehicles and robots to future forms of mobility.
G9L: The Next Generation of AI-Defined Mobility
At the center of XPENG's presence will be the G9L, its Next-Gen AI Flagship SUV, making its global launch in Paris on October 12.
The G9L brings together XPENG's latest advances in AI, intelligent driving and vehicle technology with a premium SUV experience, with a focus on safety, driving and comfort across a range of scenarios. At the Paris Motor Show, XPENG will open European order books and announce European pricing, marking the model's transition from a China launch to a global market rollout.
The G9L will also become the fourth XPENG model produced in Europe, following the company's expansion of local manufacturing capabilities. It represents XPENG's approach to developing global products while increasingly building and producing for European users.
XPENG and Tesla to Take on the Official Autonomous Driving Experience
Beyond the vehicle premiere, XPENG will put its NGP intelligent driving technology directly to the test with its recently launched L03 SUV coupe as part of the Paris Motor Show's official Autonomous Lab program.
XPENG and Tesla will be the only two automakers taking part in the official experience, giving the public a first-hand opportunity to experience next-generation intelligent driving in real-world conditions. For XPENG, the event marks its first large-scale overseas NGP test ride experience, offering early access to its latest capabilities for European customers and media.
XPENG is also advancing the localization of intelligent driving technology for Europe, enabled by the strong generalization capabilities of its foundation model. The company's European R&D capabilities are being further developed to adapt intelligent driving to local roads, traffic environments and regulatory requirements.
In Europe, For Europe
XPENG is expanding its presence in Europe as it builds out its sales and service network and local capabilities, including its European R&D centre in Munich. The company has delivered more than 100,000 vehicles overseas, including over 60,000 in Europe. In France, XPENG has delivered more than 6,000 vehicles since entering the market two years ago.
The company is also expanding its European product portfolio. Following its global debut in Munich in July 2026, the L03 SUV coupe is now preparing to begin its first deliveries to European customers.
From European intelligent driving development and local manufacturing to products tailored for European users, XPENG is strengthening its "In Europe, For Europe" approach — bringing global technology capabilities closer to local customers.
A New Chapter in XPENG's Global Expansion
2026 has marked another step in XPENG's international expansion, with continued growth in overseas sales, stores and localized operations alongside the commercialization of its Physical AI technologies.
In the second quarter, overseas deliveries surpassed 20,000 units for the first time, up 81% year-on-year. In August, its robotics business completed a first funding round of over US$900 million — the largest single-round private raise in China's embodied AI industry. And in September, IRON, its advanced general-purpose humanoid robot, rolled off its newly commissioned production line, a key step toward mass production.
As the automotive industry gathers in Paris, XPENG will demonstrate how Physical AI is moving from technology into real-world mobility — and from China to the world, with Europe playing an increasingly important role in that journey.
XPENG Paris Night
Date: Sunday, October 11, 2026
Format: Brand Event & Fireside Chat & Dinner
Venue: Downtown Paris
XPENG Paris Motor Show Press Conference
Date: Monday, October 12, 2026
Time: 11:10 a.m. – 11:25 a.m.
Location: Hall 6, Booth A51
Venue: Paris Motor Show, Paris Expo Porte de Versailles
If you are interested in XPENG's Paris Motor Show event, please contact:
[email protected]
XPENG Paris Motor Show Press Kit:
https://drive.google.com/drive/folders/1I8SLTqDREdDCzeY5YUu8LjLe7jlPI6e2
About XPENG
XPENG is a leading global Physical AI company, dedicated to bringing artificial intelligence into the physical world to reshape future mobility and smart living. Through in-house R&D, XPENG has developed a full-stack Physical AI architecture spanning Turing AI chips, world foundation models, and highly integrated software and hardware applications. This unified technology foundation of XPENG powers an expansive product portfolio of smart EVs, robotaxis, and humanoid robots, advancing the deployment of Physical AI at scale. Headquartered in Guangzhou, China, XPENG is dual-primary listed on the New York Stock Exchange and the Hong Kong Stock Exchange. With global capabilities across R&D, manufacturing, sales, and services, XPENG drives continuous technological innovation and fosters an open Physical AI ecosystem, making life smarter, safer, and better for users worldwide. For more information, please visit https://www.xpeng.com/.
, /PRNewswire/ -- XPeng Inc. ("XPENG" or the "Company,"NYSE: XPEV and HKEX: 9868), a leading global Physical AI company, today announced its vehicle delivery results for September and the third quarter of 2026.
In September 2026, XPENG delivered 41,256 vehicles, representing a 5% increase over the prior month. Monthly deliveries of the XPENG L03 exceeded 10,000 units.
For the third quarter of 2026, XPENG delivered a total of 118,390 vehicles, marking a 15% increase over the previous quarter.
On September 17, 2026, XPENG officially launched the G9L, a premium flagship SUV featuring XPENG's latest technologies, in China. The model's global launch will take place in Paris, France, in October.
On September 22, 2026, XPENG began rolling out XOS 6.3.0 in China, powered by the latest version of its VLA 2.0 model.
As of September 30, 2026, XPENG's self-operated charging network in China covered more than 430 cities and comprised over 4,000 stations, including more than 3,510 ultra-fast charging stations, with over 22,200 charging piles in total. On September 15, XPENG opened its first-ever X-Energy megawatt ultra-fast charging station in Hong Kong.
XPENG's electric vehicles delivered from January to September 2026 are expected to reduce life-cycle greenhouse gas emissions by more than 4.14 million tons compared to internal combustion engine vehicles, equivalent to the carbon absorbed by 68.53 million young trees over 10 years.
About XPENG
XPENG is a leading global Physical AI company, dedicated to bringing artificial intelligence into the physical world to reshape future mobility and smart living. Through in-house R&D, XPENG has developed a full-stack Physical AI architecture spanning Turing AI chips, world foundation models, and highly integrated software and hardware applications. This unified technology foundation of XPENG powers an expansive product portfolio of smart EVs, robotaxis, and humanoid robots, advancing the deployment of Physical AI at scale. Headquartered in Guangzhou, China, XPENG is dual-primary listed on the New York Stock Exchange and the Hong Kong Stock Exchange. With global capabilities across R&D, manufacturing, sales, and services, XPENG drives continuous technological innovation and fosters an open Physical AI ecosystem, making life smarter, safer, and better for users worldwide. For more information, please visit https://www.xpeng.com/.
Safe Harbor Statement
This announcement contains forward-looking statements. These statements are made under the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements. Statements that are not historical facts, including statements about XPENG's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: XPENG's goal and strategies; XPENG's expansion plans; XPENG's future business development, financial condition and results of operations; the trends in, and size of, China's EV market; XPENG's expectations regarding demand for, and market acceptance of, its products and services; XPENG's expectations regarding its relationships with customers, suppliers, third-party service providers, strategic partners and other stakeholders; general economic and business conditions; and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in XPENG's filings with the United States Securities and Exchange Commission. All information provided in this announcement is as of the date of this announcement, and XPENG does not undertake any obligation to update any forward-looking statement, except as required under applicable law.
Geely just grabbed a major stake in the one asset that sets Nio apart from every other electric-vehicle maker, and investors are pushing back hard. Whether that reaction reflects a real loss or a misread opportunity depends on a strategic…
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Chinese electric-vehicle maker Nio (NYSE:NIO | NIO Price Prediction) signed a partnership that extends its battery-swap reach, yet the news is weighing on Nio shares. Nio stock is down 4% to $3.43, a reaction to a deal that changes ownership of the company’s most distinctive asset. In the agreement Nio announced, Geely Holding Group receives a 30% stake in Nio Power, the company’s battery-swap and charging subsidiary.
Across the market, the SPDR S&P 500 ETF Trust (NYSEARCA:SPY) is practically unchanged, leaving Nio and other Chinese electric-vehicle names as clear laggards. Similarly, fellow Chinese automaker XPeng (NYSE:XPEV) is down 4% to $9.52, sliding in sympathy with Nio.
Notably, Tesla (NASDAQ:TSLA) is down 1% to $352.87, holding comparatively steady while Nio and XPeng retreat sharply. That split points to pressure centered on China’s electric-vehicle complex, with Tesla avoiding the selloff. For a wider lens on the theme, the Global X Autonomous & Electric Vehicles ETF (NASDAQ:DRIV) tracks a global basket of automakers, suppliers and technology names. Those are tied to the trend, including Tesla; the DRIV fund is unchanged at $33.22.
Geely Deal Opens Nio Power to Rivals Monday’s signing ceremony formalized a battery-swap and charging partnership between Nio and Geely Holding Group. Under the agreement, Geely is contributing its Yiyi Power business along with cash in exchange for its stake, while Nio China keeps a controlling interest in Nio Power. In a reciprocal step, Nio China is taking a minority stake in Geely’s Haohan Energy charging business.
Together, Nio and Geely plan to connect the two charging networks and jointly develop battery-swap technology and common standards for passenger vehicles. Geely also stated it will build consumer models able to use Nio Power’s swap network. Nio’s chief executive added at the signing that the arrangement is open to other automakers.
Dilution Risk Versus a Busier Swap Network The bearish reading of Nio centers on dilution. Handing Geely a large minority stake in Nio Power means Nio gives up part of the asset that most separates the company from other electric-vehicle makers, and that trade-off gives holders of Nio stock a concrete reason for caution, since Geely now owns a meaningful interest in the direction of the swap business.
A more bullish reading of Nio flips that logic. According to Nio’s chief executive, most of the electricity delivered through the company’s charging network already goes to drivers of other brands. The system may be worth more shared than owned fully. Geely’s help funding the expansion also removes capital Nio would otherwise have to raise on its own.
Beyond Geely, Nio’s chief executive made a broader case that automakers should converge on common infrastructure and pool what would otherwise be overlapping networks. Wider adoption by other brands could turn Nio Power into a busier, better-utilized system, spreading its fixed costs across more drivers.
Why XPeng Falls and Tesla Holds XPeng sits outside the Geely agreement, yet XPeng shares are sliding alongside Nio. That sympathy move in XPeng stock reflects broader sentiment toward China’s electric-vehicle makers, where a strategic shift at one company can ripple through the sector. For XPeng holders, the Nio news raises fresh questions about how domestic rivals fund costly charging infrastructure.
Nio remains the name with the most at stake, since Nio Power is the company’s proprietary battery-swap network and the core of its pitch to drivers. Any change in how Nio Power is owned or run touches that core directly, which may help explain why the decline is steepest in Nio stock.
What to Watch Next Given how quickly Chinese electric-vehicle stocks can swing on a single headline, holders of Nio shares would do well to size their positions modestly and match them to their own risk tolerance. A diversified fund such as the Global X Autonomous & Electric Vehicles ETF may be worth researching for those who prefer to spread their exposure across the wider theme.
Contact [email protected] for any questions or corrections.
An outside investor just put a concrete price on the part of Nio's business that has frustrated analysts for years, and the terms of the deal reveal how much Geely thinks the network is worth.
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Privately held Zhejiang Geely Holding Group is investing. It is buying into the battery swapping network that Nio (NYSE:NIO | NIO Price Prediction) built on its own, and the deal puts an outside price on a part of Nio’s business the market has struggled to value. A Geely Holding Group subsidiary will end up with a minority stake in Nio Power, the unit that runs Nio’s battery swapping and charging businesses.
Nio stock is up 3% to $3.67, a gain that stands out against a softer background for electric vehicle names. Meanwhile, XPeng (NYSE:XPEV) shares are down 1% to $10.01, moving in the opposite direction from Nio stock. Tesla (NASDAQ:TSLA) stock is down 0.6% to $369.78, adding a U.S. heavyweight to the list of decliners.
The Global X Autonomous & Electric Vehicles ETF (NASDAQ:DRIV) is down 2%, a sign of pressure across the car and battery complex. By comparison, the SPDR S&P 500 ETF Trust (NYSEARCA:SPY) is down 0.46%, which means the electric vehicle fund is trailing the broad market and the Nio stock gain looks company-specific.
Geely Deal Puts a Price on Nio Power Nio announced definitive agreements with Geely Holding Group subsidiaries covering a strategic transaction in battery swapping and charging. Under the terms, a Geely subsidiary will contribute a commercial battery swapping business together with cash to subscribe for newly issued equity in Nio Power. Battery swapping has long been one of Nio’s core advantages, which makes an outside investor in Nio Power a meaningful development.
Upon completion, the Geely unit will hold 30% of Nio Power’s total equity interest, Nio stated, while Nio retains control through a subsidiary of its own. That arrangement gives Nio Power a post-money valuation of approximately RMB16 billion, according to Nio, which hands shareholders a concrete reference point for the network.
A Partner Buys Into the Network Nio Built The optimistic take on Nio starts with who is paying. Geely is putting cash and a commercial swapping business into a network that Nio built and carried alone, which amounts to an outside endorsement of an asset that has been hard to price inside a loss-making automaker.
Nio and Geely have also made preliminary plans for Geely entities to adopt battery swapping technology across consumer vehicle models and commercial mobility businesses. Those plans remain subject to further discussion between the parties. Even so, the talks point to a path where Nio Power serves drivers from more than one automaker.
Where the Bear Case Pushes Back The worry for Nio is that selling a minority of the unit brings in a partner and a price tag while leaving the vehicle business that drives the losses unchanged. Nio still has to fund that core operation, and the Geely agreement changes ownership of the swapping arm more than it alters the economics of building cars.
Approval is another open item for Nio. Completion depends on regulatory clearances and customary closing conditions, so the price Geely is paying for its stake stays on paper until the deal closes. A delay could test the patience of Nio shareholders who bid Nio stock higher on the announcement.
Among Chinese and U.S. electric vehicle names, the Nio stock gain looks isolated. XPeng shares and Tesla shares are both lower, and the electric vehicle fund is falling more than the S&P 500 fund, which suggests buyers are responding to the Nio Power agreement specifically. That separation matters, since a sector-wide bounce would say less about what Geely’s money means for Nio.
What to Watch Next Any update on regulatory clearances is worth watching, since approval is the step that turns Nio’s agreement into a completed sale. A clearer timeline on Geely vehicles adopting battery swapping could also shape how the market prices Nio Power.
Nio shareholders should keep positions moderate until the transaction clears regulators and the preliminary adoption plans turn into clearer commitments, as building exposure in stages may help limit risk if the deal runs into delays or the vehicle business keeps weighing on Nio’s results.
Contact [email protected] for any questions or corrections.
Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.
The analysis is provided exclusively for informational purposes and should not be considered professional investment advice. Before investing, please conduct personal in-depth research and utmost due diligence, as there are many risks associated with the trade, including capital loss.
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Volkswagen (VOWG.DE) launched presales of its second model jointly developed with EV maker Xpeng (9868.HK) in China on Thursday, expanding its electric vehicle offensive to catch up with Chinese rivals.
The new electric fastback sedan debuts as the German auto giant battles a deepening crisis in its largest market, driven by weaker sales and slimmer profit margins.
The model, ID. UNYX 09, is the latest offering in Volkswagen's "in China, for China" campaign, which aims to accelerate vehicle development and better compete with domestic carmakers like BYD (002594.SZ) or Geely (0175.HK).
Volkswagen's partnership with Xpeng has been central to its China revamp strategy to fend off swift electrification, which led to the launch of its first Xpeng model, the ID. UNYX 08 SUV, earlier this year.
Despite that push, Volkswagen's deliveries to China fell 26% to 971,000 units in the first half of 2026, the company said in July, noting it was "unable to escape" the significant decline in the Chinese market. That was their lowest level in 16 years.
NEW SEDAN BROUGHT TO PRODUCTION IN JUST TWO YEARS
The current contraction in the Chinese market was equivalent to the impact of the COVID-19 pandemic, Volkswagen's China chief said this week.
It has said the ID. UNYX 09 has been brought to production in just 24 months, about 30% faster, on its new China-based architecture.
The mid- to large-size EV coupe is equipped with batteries from CATL (300750.SZ), and Xpeng's VLA intelligent driving assistance system. It will be built at Volkswagen's Hefei plant, west of Shanghai, which also produces the ID. UNYX 08.
Priced from 199,900 yuan ($29,785) in presales, the new sedan will officially go on sale at the end of October.
In China, homegrown brands continue to erode the market share the German giant once held. Volkswagen plans to launch more than 20 battery-electric and plug-in hybrid models this year.
Volkswagen has partnered up with Xpeng since 2023 when it bought a 5% stake in the Chinese firm.
Expanding beyond its work with Volkswagen, Xpeng plans to offer its technology to other foreign automakers, Reuters exclusively reported this month.
Chinese electric vehicle maker Xpeng (9868.HK) plans to offer its technology to foreign automakers beyond partner Volkswagen (VOWG.DE) as it seeks new revenue streams, according to two people familiar with the matter.
Xpeng has been in contact with some potential partners that have expressed interest in its technology, one of the sources said.
The company plans to offer its electrical and electronic architecture, cockpit systems, Turing AI chips, and advanced-driver assistance software to other firms, the source said. Potential partners could also include foreign software developers and automobile suppliers.
The EV maker, which is expanding into robotaxis, humanoid robots and flying cars, also plans to broaden its technology licensing and customisation business to cover robotaxi, robotics and other physical AI applications, the second source said. Its offering would also include the operational deployment of Xpeng's robotaxis.
Reuters is reporting the plans for the first time.
The sources did not identify the automakers or other potential partners.
HIGHER-MARGIN SERVICES
The expanded offerings come as Chinese EV makers are reshaping vehicle design and technology worldwide.
Xpeng established a strategic commercialisation team about six months ago to explore new technology partnerships and other commercial possibilities, building on the experience gained through its alliance with Volkswagen, the sources said.
Xpeng's partnership with Volkswagen began in July 2023 when the German automaker bought a 4.99% stake in the Chinese EV maker for about $700 million. The alliance covers EV platforms, software and electronic architecture.
The first jointly developed model, the ID.UNYX 08 electric SUV, incorporates Xpeng's cockpit systems, smart-driving technology and Turing AI chips.
The model entered mass production in March 2026, just 24 months after the collaboration started.
The partnership has emerged as a meaningful new source of revenue for Xpeng, particularly through technology services, although the company remained loss-making in the first and second quarters of the current financial year.
While vehicle sales revenue was little changed in the second quarter and vehicle margin narrowed to 12.1% from 14.3%, revenue from services and other businesses almost doubled, lifting the segment's margin to 75.1% from 53.6% a year earlier.
On a post-earnings call in late August, Xpeng's management said the increase was driven mainly by technology research and development services provided under the Volkswagen partnership, as well as higher revenue from components and accessories sales.
The higher-margin services business could become increasingly important as Xpeng expands into physical AI. CEO He Xiaopeng has said humanoid robots could eventually generate significantly higher margins than vehicles.
Xpeng's general-purpose humanoid robot, IRON, walked off production lines earlier this month as the company moves towards mass production by year-end. Xpeng plans to begin commercial deliveries in China and overseas markets in 2027.
The company has also accelerated its international expansion, with cumulative overseas sales surpassing 100,000 vehicles since entering Norway in 2020.
The G9L SUV, unveiled in Beijing on Thursday, is due to make its international debut at the Paris Motor Show next month and will become the fourth model to be built at Magna's (MG.TO) plant in Austria, after the G6, G9 and P7+.
XPENG announces that the G9L will be launched in 64 global markets, with its global launch set for October 12 at the Paris Motor Show. Built and designed for global users, the G9L will become the fourth XPENG model to be produced in Europe, marking four localized models within one year. , /PRNewswire/ -- XPeng Inc. ("XPENG" or the "Company,"NYSE: XPEV; HKEX: 9868), a leading global Physical AI company, today held its G9L China Launch Event in Beijing, China, and announced the G9L will be available in 64 global markets, with a global launch event scheduled on October 12 at Paris Motor Show.
XPENG G9L stuns at China launch event in Beijing. Image credit: XPENG
XPENG G9L stuns at China launch event in Beijing. Image credit: XPENG
XPENG IRON humanoid robot walks off the production line. Image credit: XPENG The G9L is XPENG's Next-Gen AI Flagship SUV, available in both BEV and REEV versions. With an overall length of 5,120 mm and a wheelbase of 3,100 mm, the G9L features a golden wheelbase-to-length ratio of 0.605, delivering better space and handling agility than its segment peers. As a premium model, it embodies XPENG's latest innovations in physical AI, spanning smart driving and the intelligent cockpit, and offering flagship-level features and global standards. Specifically, powered by XPENG VLA 2.0 model, the G9L enables fast cross-region generalization, delivering a smooth, safe, and steady performance to more global markets. Meanwhile, the G9L features the same Turing AI chip as XPENG's humanoid robot IRON.
"Global car" is a key product strategy for XPENG. Under the philosophy of "Global Standards, Global Manufacturing," this means the car must meet global safety and quality standards, its R&D needs to adapt to the requirements of different markets, and bring industry-leading technologies to users worldwide.
The G9L meets the design standards of four major five-star safety ratings worldwide. It has completed 192 crash tests across four major protocols — Euro NCAP, ANCAP, C-NCAP, and CIASI — totaling more than 110 individual test items. Over a three-year period, it has also undergone global road testing across 26 countries and regions, with cumulative mileage surpassing 6.74 million kilometers. Its electric powertrain, engineered to global vehicle standards, delivers stability that stands up to extreme environments worldwide.
At the launch event, He Xiaopeng, Chairman & CEO of XPENG, also reviewed XPENG's latest progress in humanoid robot — the world's first automated production line for advanced general-purpose humanoid robots was officially commissioned, using "robots to produce robots". He said, "We believe in 'car as robot', over the past few years, we have built an in-house AI foundation based on our work in AI cars and humanoid robots, and it powers both." This also explains why the G9L is a tech flagship SUV: it runs on XPENG's industry-leading physical AI technology.
The G9L will begin production in both Guangzhou, China, and Graz, Austria. Following the G6, G9, and P7+, it becomes the fourth model to roll off the line at Magna's plant in Graz, Austria — sharing the same lines and the same factory as European luxury vehicles. Behind this is XPENG's deepening collaboration with Magna. After announcing a cooperation agreement in September 2025, XPENG leveraged Magna's mature production lines to assemble locally in Europe, launching four models within a single year.
At the end of the event, Mr. He also announced that the G9L Global Launch Event will be held on October 12 at the Paris Motor Show in France, where XPENG's booth is in Hall 6. The launch in France is merely the first stop, with the G9L to be introduced in 64 countries and regions.
If you are interested in XPENG's Paris Motor Show event, please contact:
[email protected]
XPENG Paris Motor Show Press Kit:
https://drive.google.com/drive/folders/1I8SLTqDREdDCzeY5YUu8LjLe7jlPI6e2
Key Takeaways China's passenger vehicle sales fell 23.7% in August, while NEVs reached a record 65.2% share.Petrol car sales plunged 40%, while BYD's August sales rose 17.8% to a nine-month high.Passenger vehicle exports surged 77.5% to 894,000 units, providing a key outlet amid weak demand. China’s auto market remains under pressure, but the headline decline in vehicle sales does not tell the full story. Passenger vehicle retail sales fell 23.7% year over year to 1.55 million units in August, extending the market’s losing streak to 11 consecutive months, according to the China Passenger Car Association (CPCA), as cited by Reuters. The decline also accelerated from July’s 21.1% drop.
Beneath the weak sales numbers, the industry seems to be undergoing a deeper shift. Consumers are moving toward new-energy vehicles (NEVs), while Chinese automakers are finding stronger demand outside the domestic market. Basically, traditional vehicle sales are losing ground, while NEV adoption growth rate and exports are gaining momentum.
NEVs Keep Taking a Bigger SharePure electric and plug-in hybrid vehicles accounted for a record 65.2% of passenger-vehicle sales in China last month, narrowly surpassing the previous record of 65.1% set in July.
And the penetration is increasing even as government support becomes less generous. China cut its EV purchase tax break starting January 2026. The full 10% purchase tax exemption on eligible NEVs, capped at 30,000 yuan, dropped to 5%, capped at 15,000 yuan. Despite smaller incentives, buyers are still choosing EVs for reasons beyond cost savings.
A broader EV ecosystem is also making the transition easier. Per China Electric Vehicle Charging Infrastructure Promotion Alliance, China had about 5.1 million public charging stations at the end of July, up 21.3% from a year earlier, while household charging piles reached nearly 18.6 million, an increase of 48.8%, as cited by South China Morning Post. Better charging availability, improved vehicle range and a growing selection of models are reducing some of the practical barriers that previously held buyers back.
Automakers are giving consumers more reasons to switch. New EV launches combine electric powertrains with advanced driver-assistance systems and other technology features. As these capabilities become more common, EVs are competing not only on running costs but also on technology and features.
BYD, LI, XPEV & NIO Sales RiseThe rising NEV share becomes even more striking when looking at the weakness in conventional vehicles. Petrol-powered car sales plunged 40% year over year in August. Basically, China’s auto market is being reshaped. The competitive landscape is shifting toward companies that can combine EV technology, pricing and new features effectively.
BYD Co Ltd (BYDDY - Free Report) saw its August sales rise 17.8% year over year to 440,293 vehicles, reaching their highest level in nine months. Emerging players are also expanding. XPeng Inc. (XPEV - Free Report) delivered 39,107 vehicles, up 4% year over year. Li Auto (LI - Free Report) and NIO Inc. (NIO - Free Report) sold 37,679 and 35,836 units, representing year-over-year growth of 32.1% and 14.5%, respectively.
Exports Are Becoming a Second Growth EngineChinese automakers are not relying solely on a weak home market for growth. Passenger-vehicle exports surged 77.5% year over year to 894,000 units last month. That gives the industry an important outlet for production at a time when domestic demand is under pressure. Chinese manufacturers are increasingly targeting Europe and emerging markets with vehicles that offer competitive pricing alongside advanced technology.
BYD is at the center of this overseas push. The company has emerged as China’s largest NEV exporter and has raised its 2026 overseas sales target for the second time, now targeting as many as 2 million units. Chery remains a major exporter as well, while companies such as Leapmotor are using international partnerships to accelerate their expansion. Leapmotor, for instance, delivered 103,129 vehicles globally in August, an 80.7% year-over-year increase, supported in part by its partnership with Stellantis (STLA - Free Report) .
The scale of the export opportunity could become even more important over time. CPCA Secretary-General Cui Dongshu expects China’s vehicle exports to reach 12 million units this year and potentially rise to 18-20 million by 2030.
Last WordChina’s auto industry is facing two very different realities. Domestic vehicle demand remains weak. But at the same time, NEVs are capturing an unprecedented share of the market, and Chinese automakers are expanding their reach overseas. That makes the August data less a story of simple market deterioration and more a story of industry transition.
When deciding whether to buy, sell, or hold a stock, investors often rely on analyst recommendations. Media reports about rating changes by these brokerage-firm-employed (or sell-side) analysts often influence a stock's price, but are they really important?
Before we discuss the reliability of brokerage recommendations and how to use them to your advantage, let's see what these Wall Street heavyweights think about XPeng Inc. Sponsored ADR (XPEV - Free Report) .
XPeng currently has an average brokerage recommendation (ABR) of 1.82, on a scale of 1 to 5 (Strong Buy to Strong Sell), calculated based on the actual recommendations (Buy, Hold, Sell, etc.) made by 19 brokerage firms. An ABR of 1.82 approximates between Strong Buy and Buy.
Of the 19 recommendations that derive the current ABR, 12 are Strong Buy and two are Buy. Strong Buy and Buy respectively account for 63.2% and 10.5% of all recommendations.
Brokerage Recommendation Trends for XPEV
Check price target & stock forecast for XPeng here>>>
The ABR suggests buying XPeng, but making an investment decision solely on the basis of this information might not be a good idea. According to several studies, brokerage recommendations have little to no success guiding investors to choose stocks with the most potential for price appreciation.
Are you wondering why? The vested interest of brokerage firms in a stock they cover often results in a strong positive bias of their analysts in rating it. Our research shows that for every "Strong Sell" recommendation, brokerage firms assign five "Strong Buy" recommendations.
In other words, their interests aren't always aligned with retail investors, rarely indicating where the price of a stock could actually be heading. Therefore, the best use of this information could be validating your own research or an indicator that has proven to be highly successful in predicting a stock's price movement.
Zacks Rank, our proprietary stock rating tool with an impressive externally audited track record, categorizes stocks into five groups, ranging from Zacks Rank #1 (Strong Buy) to Zacks Rank #5 (Strong Sell), and is an effective indicator of a stock's price performance in the near future. Therefore, using the ABR to validate the Zacks Rank could be an efficient way of making a profitable investment decision.
ABR Should Not Be Confused With Zacks RankIn spite of the fact that Zacks Rank and ABR both appear on a scale from 1 to 5, they are two completely different measures.
The ABR is calculated solely based on brokerage recommendations and is typically displayed with decimals (example: 1.28). In contrast, the Zacks Rank is a quantitative model allowing investors to harness the power of earnings estimate revisions. It is displayed in whole numbers -- 1 to 5.
Analysts employed by brokerage firms have been and continue to be overly optimistic with their recommendations. Since the ratings issued by these analysts are more favorable than their research would support because of the vested interest of their employers, they mislead investors far more often than they guide.
On the other hand, earnings estimate revisions are at the core of the Zacks Rank. And empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
Furthermore, the different grades of the Zacks Rank are applied proportionately across all stocks for which brokerage analysts provide earnings estimates for the current year. In other words, at all times, this tool maintains a balance among the five ranks it assigns.
Another key difference between the ABR and Zacks Rank is freshness. The ABR is not necessarily up-to-date when you look at it. But, since brokerage analysts keep revising their earnings estimates to account for a company's changing business trends, and their actions get reflected in the Zacks Rank quickly enough, it is always timely in indicating future price movements.
Should You Invest in XPEV?In terms of earnings estimate revisions for XPeng, the Zacks Consensus Estimate for the current year has declined 70.1% over the past month to -$0.67.
Analysts' growing pessimism over the company's earnings prospects, as indicated by strong agreement among them in revising EPS estimates lower, could be a legitimate reason for the stock to plunge in the near term.
The size of the recent change in the consensus estimate, along with three other factors related to earnings estimates, has resulted in a Zacks Rank #4 (Sell) for XPeng. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Therefore, it could be wise to take the Buy-equivalent ABR for XPeng with a grain of salt.
For years, the humanoid robotics race has been about proving the technology works. This week, the conversation shifted to something arguably more important: whether companies can manufacture these machines at scale.
Announcements from Tesla Inc (NASDAQ:TSLA) and XPeng Inc. (NYSE:XPEV) suggest the industry’s next battleground is no longer intelligence—it’s production.
Tesla Optimus ProductionTesla has reportedly taken a significant step toward scaling its Optimus humanoid robot. According to a report by Chinese outlet Jiemian News, citing supply-chain sources, the company has placed its first large-scale component order covering roughly 5,000 Optimus robots, marking the program’s first procurement in the thousands. Tesla has not publicly confirmed the report.
The reported order comes as suppliers prepare for production audits and higher manufacturing volumes, signaling that the focus is moving beyond prototype development and toward repeatable factory output. It also aligns with Tesla’s earlier guidance that first-generation Optimus production lines are being installed in Fremont ahead of volume production.
While Tesla has previously showcased Optimus performing factory tasks, large-scale manufacturing has remained the bigger challenge. If the supply-chain reports prove accurate, the company’s priorities are beginning to shift from engineering demonstrations to execution.
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XPENG Robot FactoryXPENG made an equally notable announcement from China.
CEO He Xiaopeng said the company has launched what it describes as the world’s first automated production line for advanced general-purpose humanoid robots, with robots assembling other robots autonomously. Calling the milestone “uncharted territory,” He said the production line means humanoid robots are now ready to “scale up and step into the real world.”
The announcement builds on XPENG’s previously disclosed ambition to begin large-scale production of its IRON humanoid robot by the end of 2026 and eventually expand commercial deployments beyond factories.
Unlike earlier product unveilings that emphasized robot capabilities, XPENG’s latest update puts manufacturing at the center of its strategy—suggesting production capacity is becoming as important as artificial intelligence itself.
What Investors Should WatchTesla’s reported production order and XPENG’s automated robot factory point to the same emerging trend: the humanoid robotics industry is entering its manufacturing phase.
That does not mean mass adoption is imminent. Companies still need to prove these robots can perform useful work reliably and economically. But if the race is indeed shifting from prototypes to production, investors may need to look beyond the robot makers themselves.
Component suppliers, precision manufacturers and industrial automation companies could become just as important as the firms building the humanoids, especially if large-scale production becomes the industry’s next competitive advantage.
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Image created using artificial intelligence via ChatGPT
Chinese companies rushed into electric cars a decade ago, and now they are expanding into humanoid robots as the EV market sees a slowdown amid intense competition.
While the commercial viability of humanoids has come under scrutiny, it hasn't dissuaded companies such as Xpeng from announcing robot production plans, at a time when China's EV sales are headed for their worst year since 2021.
It's part of a bid to reshape "capital valuation narratives," said Kevin Li, associate director at Counterpoint Research. He added that the automakers are also looking to boost the perception that they are tech companies, and establish a second growth curve.
Xpeng shares have tumbled more than 45% this year, making them the worst performer among major EV players. Shares of EV giant BYD are down more than 13% as sales have slumped.
Chinese automakers accounted for more than half of the nearly 20 car companies globally that have entered the humanoid robotics sector through in-house development, investment or incubation as of August, according to Counterpoint.
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The venture arm of EV company Nio has also invested in several humanoid robotics startups such as LimX Dynamics and Acorn Robot, according to PitchBook data.
The business diversification comes as slowing growth and weakening profitability put pressure on China's EV makers. The average profit margin in China's vehicle manufacturing sector stood at 1.5% in the first half of 2026, according to China Association of Automobile Manufacturers data cited by Counterpoint.
Xiaomi, Li Auto and Geely are also among EV makers making moves into the robotics sector, although their strategies differ.
"Given the slowing growth and weakening profitability in the EV market—particularly domestically—it is a natural strategic move for EV companies to diversify into new applications such as robotics," said Jing Yang, director of Asia-Pacific corporate ratings at Fitch Ratings.
"This allows them to pursue alternative growth drivers, achieve economies of scale for shared advanced technologies, and potentially improve profitability over the medium term," she said.
Investors aren't buying the story yet.
Xpeng shares fell after it raised $900 million for its robotics business last month, the largest single round in China's "embodied" AI industry, according to the company. Embodied AI refers to hardware-connected artificial intelligence.
The raise valued the car company's robotics unit at more than $6.3 billion — on par with the $6.5 billion estimated value for Xpeng's EV business, according to Citi.
Advantages over Tesla?While there are similarities to how electric-car maker Tesla is developing its Optimus humanoid in the U.S., Elon Musk's company, the Chinese automakers' push into robotics have their own advantages, said Xiaoyi Lei, senior research analyst at Jefferies Hong Kong.
She pointed out that Chinese automakers can reuse a significant portion of their supply chain — Xpeng, for example, can use 85% of its motors, chips and smart driving software for humanoids. The robots can then be immediately deployed in the automakers' stores and factories, rather than having to wait for consumers to buy them, she added.
Xpeng said Tuesday it plans to begin mass production of its robots by the end of this year, starting in its own stores and business venues. Next year, the company plans to launch the robots to the broader market in China and overseas.
Automakers also know how to build things at scale, Lei said. Producing thousands of robots that are reliable and serviceable is what Chinese automakers already do every day, she added.
"Chinese players are the ones actually pushing it into daily use," Lei said, noting that in-house deployment makes it easier and cheaper for the automakers to collect data — which is critical for humanoid commercialization.
Xiaomi, a consumer electronics company that only launched its first electric car in 2024, started testing humanoid robots at its factory this year.
BYD can also deploy robots in its factories, Counterpoint's Li pointed out. But he said over the medium-to-long term, Geely and Xpeng could better capture the benefits of diversifying beyond cars, pointing to Xpeng's greater emphasis on its physical AI strategy.
Humanoid questionsWhether humanoid robots can generate demand beyond automakers' own operations remains an open-ended question. Lei said Jefferies has yet to see firm external orders from the automakers it covers or clear guidance on external customers and robotics revenue for next year.
Leading humanoid company Unitree saw its shares skyrocket as they debuted in Shanghai last month, but the stock declined for 12 of the 16 sessions since its listing. Founder Wang Xingxing has cautioned that commercialization could still take years, with the humanoid sector's 'ChatGPT' moment likely a decade away.
Reusing car technology for robots may not always be as straightforward as it sounds.
"I would say the real challenge is how they are going to make the algorithm and software stack that is used to be applied to the smart driving system also viable to the humanoid scenario, which is more difficult and more challenging," Lei said.
Nykredit A S purchased a new position in shares of XPENG Inc. Sponsored ADR (NYSE:XPEV – Free Report) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 62,289 shares of the company’s stock, valued at approximately $825,000.
Several other hedge funds have also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC lifted its holdings in XPENG by 45.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 3,906 shares of the company’s stock valued at $79,000 after purchasing an additional 1,212 shares in the last quarter. Parallel Advisors LLC raised its position in shares of XPENG by 6.0% in the fourth quarter. Parallel Advisors LLC now owns 10,293 shares of the company’s stock valued at $209,000 after buying an additional 584 shares during the last quarter. Greenleaf Trust lifted its stake in shares of XPENG by 18.3% in the second quarter. Greenleaf Trust now owns 19,075 shares of the company’s stock worth $253,000 after buying an additional 2,948 shares in the last quarter. Venturi Wealth Management LLC lifted its stake in shares of XPENG by 66.3% in the first quarter. Venturi Wealth Management LLC now owns 16,481 shares of the company’s stock worth $282,000 after buying an additional 6,571 shares in the last quarter. Finally, BNP Paribas boosted its position in XPENG by 10.8% during the fourth quarter. BNP Paribas now owns 16,350 shares of the company’s stock worth $332,000 after acquiring an additional 1,600 shares during the last quarter. 21.09% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth Several analysts recently issued reports on XPEV shares. Jefferies Financial Group reaffirmed a “buy” rating and set a $25.20 price objective on shares of XPENG in a research note on Friday, May 29th. Weiss Ratings raised shares of XPENG from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, August 26th. Wall Street Zen cut XPENG from a “hold” rating to a “sell” rating in a report on Sunday, May 24th. Bank of America restated a “buy” rating on shares of XPENG in a research report on Thursday, May 28th. Finally, Barclays cut their price target on XPENG from $15.00 to $14.00 and set an “underweight” rating for the company in a report on Tuesday, August 25th. Two analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and four have assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $25.31.
View Our Latest Stock Analysis on XPEV XPENG Stock Performance Shares of XPEV opened at $10.95 on Tuesday. XPENG Inc. Sponsored ADR has a 12-month low of $10.72 and a 12-month high of $28.24. The firm has a market capitalization of $10.46 billion, a P/E ratio of -22.81 and a beta of 1.11. The firm has a 50-day moving average price of $12.38 and a 200 day moving average price of $15.11. The company has a current ratio of 1.11, a quick ratio of 0.86 and a debt-to-equity ratio of 0.50.
XPENG Profile (Free Report)
XPENG Inc (NYSE: XPEV) is a China-based developer and manufacturer of smart electric vehicles. The company designs, engineers and sells battery-electric sedans and sport-utility vehicles along with related software and services. Founded in 2014, XPENG positions itself as a technology-driven automaker with a focus on vehicle connectivity, software-defined features and advanced driver assistance systems.
Product offerings center on passenger EVs spanning compact crossovers and midsize sedans, supported by in-house software platforms and over-the-air update capabilities.
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XPENG has officially commissioned its humanoid robot production lines and completed the production-lines manufacturing of the world's first advanced humanoid robot, which autonomously walked off the lines, marking a critical leap from R&D prototyping to production-lines manufacturing. XPENG's humanoid robot production lines feature core process automation exceeding 80%, setting a new manufacturing benchmark with a precision, flexible, and intelligent production line. XPENG extends its automotive-grade manufacturing capabilities to robotics, marking a critical step toward mass production. , /PRNewswire/ -- XPeng Inc. ("XPENG" or the "Company,"NYSE: XPEV; HKEX: 9868), a leading global Physical AI company, today announced that its humanoid robot production lines are now in operation, and the world's first advanced general‑purpose humanoid robot made its debut by autonomously walking off the lines after completing production. This achievement signifies a key leap from R&D prototyping to line manufacturing and an important advance toward volume production.
XPENG's robot production lines are the world's first automated production lines for advanced humanoid robots, deeply integrating the mature automotive-grade quality systems of the smart electric vehicle industry with precision manufacturing for humanoid robot. Built to automotive-grade quality standards, it establishes a quality system for mass production of advanced humanoid robots. Designed for scale from day one, with over 80% of core processes automated, the lines deliver a high-precision, highly flexible, and intelligent manufacturing system, ensuring consistent critical-process quality and laying the foundation for scaled production and rapid capacity expansion.
He Xiaopeng, Chairman & CEO of XPENG, said: "The robot production lines were created from scratch with no precedent to follow. Today's step is small, but XPENG is building the production lines for an entirely new product category. Looking ahead, XPENG will continue to explore faster production rhythms and greater scale in robot manufacturing, charting a new path toward a leading robot manufacturing industry in China and globally."
As a key pillar of XPENG's Physical AI strategy, XPENG's next-generation IRON is an advanced humanoid robot combining highly human-like form and movement with AI-driven intelligence, designed to meet the highest safety standards. It is being developed as an advanced general-purpose humanoid robot platform, capable of supporting a broad range of applications and continuously improving through self-reinforcement in the real world.
XPENG IRON features an industry-leading human-like form and design, with a proprietary fully enclosed flexible lattice structure designed to balance aesthetics and safety. With 76 degrees of freedom (DOF) across the body and 21 in each hand, IRON delivers industry-leading levels of dexterity and mobility. On the intelligence side, XPENG IRON is powered by three Turing AI chips delivering up to 2,250 TOPS of effective computing power. This computing power enables XPENG to deploy its Physical AI foundation model directly on the robot, enabling IRON to autonomously perform complex tasks without remote operation, while ensuring low-latency inference and enhanced data security.
Mr. He said, "We aim to build a new type of robot with full generalization capabilities that can truly become part of everyday life, create a better life for people, and ultimately become a companion in their lives." And he put on a staff badge for IRON, symbolizing that it has officially become a member of the XPENG team.
Looking ahead, XPENG robots are scheduled to enter mass production by the end of this year, with initial commercial-scenario rollouts beginning in XPENG's own stores and campuses. Official market launch and delivery in China and overseas markets are planned for 2027.
XPENG remains committed to its physical-AI and globalization strategy, continuously building three growth curves: automotive, robotics, and globalization. The rollout of the first advanced general-purpose humanoid robot and the activation of the production lines mark another important milestone in the ongoing implementation of XPENG's physical-AI strategy. Given the high technical barriers and limited high-quality supply in the advanced general-purpose humanoid robot segment, the gross margin per unit is expected to be significantly higher than that of new energy vehicles. As XPENG's robotics business accelerates into scaled manufacturing and commercialization, its value as the Company's second growth curve is rapidly becoming visible.
On August 24, XPENG's robotics business has entered into share purchase agreements with multiple investors, raising over US$900 million at a post-money valuation of over US$6.3 billion, which marks the largest single-round private capital raise in China's embodied AI industry to date. This is a strong endorsement from the capital markets of XPENG Group's leading position, technology roadmap, scaled manufacturing capabilities, and long-term commercial value in the physical AI domain.
From a unified physical AI foundation model, to different intelligent embodiments, to scaled manufacturing, XPENG is progressively connecting the full chain from model base and product R&D to industrialized deployment, bringing AI out of the digital world into the real world, and into the broader physical world.
About XPENG
XPENG is a global leader in physical AI, dedicated to bringing artificial intelligence into the physical world and redefining future mobility and smart living. The company has built a full-stack self-developed physical AI technology system covering Turing AI chips, physical world foundation models, and highly integrated software and hardware applications. Based on its unified technology foundation, XPENG has developed products including smart electric vehicles, Robotaxi, and humanoid robots, driving the scaled deployment of physical AI. Headquartered in Guangzhou, China, XPENG has dual primary listings on the New York Stock Exchange and the Hong Kong Stock Exchange. With an international R&D, manufacturing, sales, and service system, XPENG brings smarter, safer, and better lifestyles to users worldwide through continuous technological innovation and an open physical AI ecosystem. For more information, please visit XPENG's official website at https://www.xpeng.com/.
Nio just posted its most profitable quarter in years, yet investors are dumping the stock. The culprit is a cost pressure that has nothing to do with cars and everything to do with the AI infrastructure boom eating into Nio's…
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The Chinese electric vehicle sector is reacting a sharp cost-guidance warning, delivered inside what was arguably Nio’s best profit quarter to date. Nio’s management flagged rising costs for batteries and memory chips as the defining challenge of the second half, and investors sold the story despite a huge margin expansion.
The Global X Autonomous & Electric Vehicles ETF (NASDAQ:DRIV) is down 1% to $34.08. Meanwhile, the SPDR S&P 500 ETF Trust (NYSEARCA:SPY) is down 0.7% to $761.68. The electric vehicle fund is trading only slightly softer than the broad market, which places today’s move inside Nio rather than across the sector.
Nio (NYSE:NIO | NIO Price Prediction) stock is down 4% to $4.06 in afternoon trading, having entered the session down 17% year to date through Monday’s close. At the same time, XPeng (NYSE:XPEV) stock is down 0.5% to $11.31, holding steady after XPeng’s own Q2 2026 report last week.
Best Quarter in Years Meets a Cost Warning Nio’s Q2 2026 numbers landed with the kind of profitability the company has been chasing for years. Nio’s revenue rose 69.1% year over year (YoY) to RMB32.14 billion, or $4.74 billion, missing expectations near $4.95 billion. GAAP net loss at Nio narrowed to RMB528 million from RMB4.99 billion a year earlier, and the company reported an adjusted profit for the quarter.
Vehicle margin at Nio improved to 18.5% from 10.3% a year earlier, and overall gross margin expanded to 18.4%. Nio’s deliveries climbed 49.4% YoY to 107,658 units, with the third-generation ES8 crossing 140,000 cumulative deliveries within 11 months of launch. Management said the ES8 and ES9 both carry vehicle margins above 20%, anchoring the mix.
Balance-sheet strength backed it up. Nio ended the quarter with RMB56.7 billion in cash, restricted cash, short-term investments, and long-term time deposits, and generated positive operating cash flow and positive free cash flow. That’s a first for the company at this scale.
What did the damage was Q3 guidance. Nio expects third-quarter deliveries of 108,000 to 111,000 vehicles and revenue of RMB33.29 billion to RMB34.05 billion, or $4.9 billion to $5 billion, slightly under Wall Street’s number. More important, management flagged rising component costs including batteries and memory chips, expected to add RMB2,000 to RMB3,000 per vehicle in the second half.
Memory Chip Costs Reach the Auto Aisle The memory-chip line in Nio’s disclosure is the interesting one. It’s a cost input that originates far outside the automotive supply chain, driven by AI data-center demand for high-bandwidth memory and DRAM, and it is now landing as a per-vehicle expense on Chinese electric SUVs. Nio said the cost pressure began from the beginning of March this year, with a Q2 average impact of around RMB14,000 per car versus late last year.
Nio outlined its mitigation plan on the call: supply-chain optimization, commercial negotiations with suppliers, further cost-structure work, tighter product definition, and reuse of core technologies across the NIO, Onvo, and Firefly brands. The stated target is to hold Q3 and Q4 vehicle margin at a level similar to Q2’s 18.5%.
The margin gains investors just digested are backward-looking. Nio’s cost guidance is forward-looking. A company that has finally proved it can build cars profitably is being asked whether it can hold that line while an outside industry, artificial intelligence infrastructure, competes for its inputs (we pulled together seven suppliers riding that same AI buildout, from power to cooling, in a free report). That’s the whole selloff in one sentence.
XPeng’s Q2 call last week flagged similar industry-wide cost pressure without breaking out chip inputs, and XPeng stock has largely digested that report. Other Chinese EV names traded in a tight band, which helps explain why the ETF is barely moving while Nio absorbs the hit alone.
What to Watch The fair question for Nio is whether 24% to 27.5% delivery growth with compressing input costs is worth more or less than the margin expansion just delivered. Management’s stated goal is to hold vehicle margin near 18.5%, which would require the mitigation work to fully offset the RMB2,000 to RMB3,000 per-car cost. That’s the number to trace into Nio’s Q3 report in November.
Traders can watch for whether the memory-chip cost commentary becomes a broader theme across the Chinese EV cohort in coming weeks. Given the cost uncertainty and Nio’s ongoing losses on a six-month basis, investors should size their positions carefully, treating Nio as a delivery-growth story where second-half margin durability decides the next re-rating.
Contact [email protected] for any questions or corrections.
, /PRNewswire/ -- XPeng Inc. ("XPENG" or the "Company,"NYSE: XPEV and HKEX: 9868), a leading global Physical AI company, today announced its vehicle delivery results for August 2026.
XPENG delivered 39,107 vehicles in August 2026, up 4% year-over-year.
On August 11, 2026, the XPENG G9L made its official debut and commenced pre-sales in the Chinese mainland.
In August, XPENG Robotaxi business validation gained further progress. The Company secured a permit to conduct remote testing of intelligent connected vehicles in Guangzhou, allowing road trials without an onboard safety operator on designated Level 1, 2 and 3 test roads across the city and marking a key milestone toward fully driverless road testing.
XPENG's electric vehicles delivered from January to August 2026 are expected to reduce life-cycle greenhouse gas emissions by more than 3.72 million tons compared to internal combustion engine vehicles, equivalent to the carbon absorbed by 61.6 million young trees over 10 years.
About XPENG
XPENG is a leading global Physical AI company, dedicated to bringing artificial intelligence into the physical world to reshape future mobility and smart living. Through in-house R&D, XPENG has developed a full-stack Physical AI architecture spanning Turing AI chips, world foundation models, and highly integrated software and hardware applications. This unified technology foundation of XPENG powers an expansive product portfolio of smart EVs, robotaxis, and humanoid robots, advancing the deployment of Physical AI at scale. Headquartered in Guangzhou, China, XPENG is dual-primary listed on the New York Stock Exchange and the Hong Kong Stock Exchange. With global capabilities across R&D, manufacturing, sales, and services, XPENG drives continuous technological innovation and fosters an open Physical AI ecosystem, making life smarter, safer, and better for users worldwide. For more information, please visit https://www.xpeng.com/.
Safe Harbor Statement
This announcement contains forward-looking statements. These statements are made under the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements. Statements that are not historical facts, including statements about XPENG's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: XPENG's goal and strategies; XPENG's expansion plans; XPENG's future business development, financial condition and results of operations; the trends in, and size of, China's EV market; XPENG's expectations regarding demand for, and market acceptance of, its products and services; XPENG's expectations regarding its relationships with customers, suppliers, third-party service providers, strategic partners and other stakeholders; general economic and business conditions; and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in XPENG's filings with the United States Securities and Exchange Commission. All information provided in this announcement is as of the date of this announcement, and XPENG does not undertake any obligation to update any forward-looking statement, except as required under applicable law.
BYD Co. (BYDDY) has proven to be a strong competitor to Tesla (TSLA) in the Chinese EV market, as have Nio Inc. (NIO) and XPeng (XPEV). However, as Tu le explains, the Elon musk-led giant has picked up speed in its EV industry despite facing key headwinds to expand its road ahead.
When earnings miss the mark, the market often reacts with ruthless efficiency—selling first and parsing the details later. That is seemingly the setup currently unfolding with XPeng Inc. NYSE: XPEV.
XPENG Today
$11.52 -0.01 (-0.09%)
As of 08/28/2026 03:58 PM Eastern
$11.06▼
$28.24$25.31
The market recently punished the company following a top-line miss in the automotive sector, pushing shares down toward a stubborn 52-week support level of around $11. Squeezed by a brutal domestic price war and shifting international tariffs, the core electric-vehicle (EV) narrative appears undeniably challenged on the surface. But looking strictly at the headwinds misses the real story.
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Hidden beneath the headline noise is a quiet, multi-billion-dollar capitalization event that completely changes the math for long-term investors. By fixating entirely on near-term vehicle deliveries, Wall Street has overlooked a strategic pivot. The current price action of XPeng Inc.'s stock offers a rare chance to look under the hood of a changing operation.
The Stealth Robotics Spin-off Shaking Up XPengXPeng is no longer just an electric vehicle manufacturer, as it is rapidly incubating a standalone physical artificial intelligence (AI) competitor. The company recently secured a substantial Series A funding round exceeding $900 million for its robotics subsidiary, Dogotix. This capital injection assigns a post-money valuation of about $6.3 billion to the division, establishing a hard, objective market value for the firm.
What makes this event stand out is the strategic weight behind it. The funding round is anchored by tech heavyweights Tencent OTCMKTS: TCEHY and Alibaba NYSE: BABA, providing the critical data center and ecosystem infrastructure necessary to scale physical AI.
To underscore the internal conviction, XPeng CEO He Xiaopeng personally committed approximately $100 million to the round. This capital is specifically earmarked to accelerate the mass production of the IRON humanoid robot by the end of 2026, positioning XPeng to front-run competing programs in the commercial robotics space.
Unlocking Value: The Robotics Spin-OffThe long-term plan involves spinning the robotics arm into a standalone entity over the next 18 months, with XPeng retaining around an 82% ownership stake. This is a classic value-unlocking maneuver. By carving out the high-growth AI division, management creates a distinct vehicle for institutional capital that might want exposure to robotics but is hesitant to invest directly in XPeng, which remains primarily an EV manufacturer.
Doing the Math: The Sum-of-the-Parts ArbitrageFor value-oriented investors, the math here reveals a glaring inefficiency. A sum-of-the-parts analysis is a valuation method in which you determine the value of a business's individual divisions if they were spun off or acquired by another entity. Apply this framework to XPEV's current share price, and the market valuation makes very little sense.
XPeng currently trades with an enterprise market capitalization hovering around $11 billion. If we back out the independently verified $6.3 billion valuation of the robotics subsidiary, the market is effectively pricing the core EV operation at roughly $4.7 billion.
Buying an EV Empire for Pennies on the DollarThat $4.7 billion price tag covers a fully operational global vehicle manufacturing footprint, an annual revenue run rate approaching $74 billion, a proprietary autonomous driving software stack, and an expanding international charging infrastructure network. Acquiring those assets at that valuation would be akin to buying them at a highly distressed multiple.
XPeng's price-to-book ratio sits at a modest 2.56, with a book value per share of around $4.42. Quantitative trading models are pricing XPeng strictly on its recent EV delivery guidance misses, heavily discounting the automotive business while assigning virtually zero premium to the incubated robotics unit. This disconnect provides a rigid fundamental floor for XPeng, as the intrinsic value of the underlying parts far outweighs the current market price of the company as a whole.
Hedging the EV Price War With AINo investment is without risk, and the automotive sector currently faces a formidable wall of macro headwinds. Intense domestic competition in China has triggered an aggressive price war, compressing margins across the board and pushing XPeng's trailing 12-month earnings per share into negative territory. Simultaneously, punitive export tariffs from the U.S. and European markets threaten to throttle international expansion efforts. These are valid concerns that justify a degree of caution regarding traditional EV pure-plays.
However, the aggressive push into physical AI acts as a hedge against these exact risks. The robotics carve-out creates a capital-intensive AI entity that leverages domestic software ecosystems, sidestepping the cross-border friction in hardware sales that currently plagues the broader EV sector.
By shifting focus to a high-margin, domestic-facing technology product like the IRON robot, management is effectively insulating a large portion of XPeng's long-term valuation from the headwinds in the automotive sector. The robotics division offers a distinct growth engine untethered from the daily fluctuations of car dealership lots or rapidly changing global tariff policies.
Charting the Entry: Accumulating XPengMarket sentiment remains clouded by the latest earnings report, yet the underlying institutional footprint tells a different story. Core institutional holders such as Valeo Financial Advisors, Nykredit A/S, and Greenleaf Trust continue to hold their positions, likely recognizing the latent value of the technology stack. Wall Street analysts also seem to grasp the broader narrative. Despite recent technical weakness, research firms, including Bank of America NYSE: BAC and Jefferies NYSE: JEF, have reiterated Buy ratings over the last 90 days. The consensus 12-month price target remains heavily elevated, sitting near $25.70.
Current Price$11.52High Forecast$34.00Average Forecast$25.31Low Forecast$14.00XPENG Stock Forecast Details
When a stock trades down to a key support level on bad news that affects only a portion of its business, it creates a clear window of opportunity. XPEV's current 52-week support level near $11 presents a high-probability entry point for those willing to look past the immediate quarter.
Accumulating shares into this automotive-driven weakness essentially allows investors to secure a stake in a multi-billion-dollar, Tencent-backed physical AI division at a stark discount. Cautious investors might wait for XPeng to establish a firm technical base above $11, while those with a higher risk tolerance could view the current price as a prime opportunity to build a position in a transformative technology operator masquerading as an out-of-favor automaker.
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Xpeng Inc (NYSE:XPEV), the Chinese electric vehicle maker, is raising more than $900 million for its robotics business, valuing the unit at more than $6.3 billion.
The EV maker claims this is the largest single-round private financing ever recorded in China's embodied AI industry.
The funding round is led by IDG Capital and includes Gaorong Ventures, while Alibaba and Tencent are participating as strategic investors, giving the unit substantial backing from China's technology industry.
Bloomberg reported that XPeng itself will invest $200 million in the robotics business, while external investors will provide $600 million and senior executives will contribute $100 million.
XPeng described the transaction as the largest single-round private capital raise to date in China's embodied artificial intelligence industry, which covers systems that use artificial intelligence to perceive and act in the physical world.
The robotics business will use the proceeds for hardware and software development, physical artificial intelligence model training, high-quality data generation and the construction of facilities for mass production.
The funding will also support international expansion as XPeng seeks to build a robotics business alongside its electric vehicle operations and apply expertise in sensors, software, batteries and supply chains.
XPeng plans to begin mass production of its IRON humanoid robot by the end of 2026, with initial deployments at its stores and industrial campuses.
Broader commercial launches and deliveries in China and overseas markets are planned for 2027, putting the robotics unit on a relatively short timetable to move from development into commercial operations.
Chief Executive He Xiaopeng will personally lead the robotics business as the company increases investment in humanoid robots and other physical artificial intelligence applications.
The financing comes as XPeng reported second-quarter revenue of 19.74 billion yuan, about $2.91 billion, below analyst expectations, while its net loss widened to 1.34 billion yuan, or about $199 million.
XPeng's shares fell sharply Monday as investors focused on the earnings miss and outlook, showing that the robotics valuation has yet to offset concerns about the company's core electric vehicle business.
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Shares of Chinese electric vehicle maker Xpeng fell more than 9% in Hong Kong on Tuesday after the company issued weaker-than-expected forecast for third-quarter deliveries, despite its robotics business unit securing a valuation of over $6.3 billion in a funding round.
Xpeng's U.S.-listed shares closed 8.5% lower on Monday.
The company reported a second-quarter net loss of 1.34 billion yuan ($0.20 billon), wider than a year earlier, while revenue rose 8% to 19.74 billion yuan. It forecast deliveries of between 115,000 and 121,000 vehicles in the third quarter.
Citi said the delivery guidance fell short of investor expectations, largely due to supply chain constraints that disrupted the ramp-up of Xpeng's MONA L03 model. It slightly lowered its price targets for Xpeng's U.S.- and Hong Kong-listed shares following the company's financial results.
Separately, Xpeng's robotics business raised more than $900 million in its first funding round, giving the unit a post-transaction valuation of more than $6.3 billion. The round was led by IDG Capital, with participation from Gaorong Ventures and support from Tencent and Alibaba as strategic investors.
Brian Gu, Xpeng vice chairman and co-president, said the company's ambition is to usher in "a new phase of global mass production and commercial deployment for advanced humanoid robots," in a LinkedIn post about the funding round.
Citi estimates that if Xpeng's current valuation fully reflects the robotics unit's post-transaction valuation, its EV business has an implied value of around $6.5 billion, putting it at roughly the same level as the nascent robotics business.
The bank described the robotics financing as a long-term positive for Xpeng, saying the EV maker could apply its existing strengths in algorithms, AI models and chips to humanoid robots.
Xpeng CEO He Xiaopeng said in November that the company would sell more robots than cars in the next 10 years. The Guangzhou-based startup revealed its second-generation humanoid robot at the time, and has also built out a flying vehicles business unit.
While Xpeng recovered market share last year on the back of its lower-priced mass market brand Mona, the company has struggled to maintain sales momentum amid an overall slump in China's electric car market.
XPeng Inc. (XPEV) Q2 2026 Earnings Call August 24, 2026 8:00 AM EDT
Company Participants
Alex Xie - Head of Investor Relations
He Xiaopeng - Co-founder, Chairman & CEO
Jiaming Wu - Vice President of Finance & Accounting
Gui Hongdi - Honorary Vice Chairman of the Board & Co-President
Conference Call Participants
Tim Hsiao - Morgan Stanley, Research Division
Ming-Hsun Lee - BofA Securities, Research Division
Ming Chung - Citigroup Inc., Research Division
Y.C. Lai - JPMorgan Chase & Co, Research Division
Tina Hou - Goldman Sachs Group, Inc., Research Division
Presentation
Operator
Hello, ladies and gentlemen. Thank you for standing by for the Second Quarter 2026 Earnings Conference Call for XPeng Inc. [Operator Instructions] Today's conference call is being recorded. I will now turn the call over to your host, Mr. Alex Xie, Head of Capital Markets of the company. Please go ahead, Alex.
Alex Xie
Head of Investor Relations
Thank you. Hello, everyone, and welcome to XPeng's Second Quarter 2026 Earnings Conference Call. Our financial and operating results were issued via Newswire services earlier today and available online. You can also view the earnings press release by visiting the IR section of our website at ir.xiaopeng.com.
Participants on today's call from our management team will include Co-Founder, Chairman and CEO, Mr. He Xiaopeng; Vice Chairman and President, Dr. Brian Gu; Vice President of Finance and Accounting, Mr. James Wu; and myself. Management will begin with prepared remarks, and the call will conclude with a Q&A session. A webcast replay of this conference call will be available on the IR section of our website. Before we continue, please note that today's discussion will contain forward-looking statements made under the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements involve inherent risks and uncertainties.
Nio Inc. – ADR (NYSE:NIO) stock hit a new 52-week low Monday, pulled down by peer XPeng Inc. – ADR (NYSE:XPEV) second-quarter earnings report.
Here’s what investors need to know.
Nio stock is testing key support levels. Why did NIO hit a new low? China EV Sector Sentiment Cools Following XPeng Q2 ReadoutXPeng reported its financial results before the market open, sparking fresh caution across the Chinese electric vehicle space. While XPeng posted a quarter-over-quarter revenue increase of 51.5% to RMB 19.74 billion ($2.73 billion) and expanded its gross margin to 20.7%, broader sector concerns around heavy ongoing AI research investments and persistent price competition in China continue to weigh on investor appetite.
Investors Eyeball NIO’s Upcoming Earnings as Q2 13F Filings Highlight Institutional RebalancingMonday’s move lower highlights broader market anxiety over China’s premium EV pricing landscape ahead of Nio’s own second-quarter earnings report on Sep. 1. Trading sentiment is also being shaped by recent second-quarter 13F filings submitted to the SEC by the August 14 deadline.
The regulatory disclosures revealed significant institutional rebalancing: D.E. Shaw & Co. slashed its Nio position by 52.5% (selling 20.1 million shares), while JPMorgan Chase & Co. trimmed its stake by 59% down to 2.68 million shares and Deutsche Bank reduced its position by 17.9%.
Conversely, some major buyers stepped in to absorb supply, with Morgan Stanley boosting its stake by 86.2% to become Nio’s largest reported 13F holder (27.4 million shares) and UBS Group AG increasing its holdings by 56.1% to 19.27 million shares.
Despite recent delivery softness (35,934 units in July versus June’s 40,597) and mixed institutional flows, traders are watching to see if Nio’s expanding multi-brand strategy, driven by its mass-market ONVO and Firefly lines, and capital-light battery swap partnerships can protect gross margins when the company reports next week.
NIO Shares Slide Monday AfternoonNIO Price Action: Nio shares were down 5.40% at $4.37 at the time of publication on Monday, according to Benzinga Pro data.
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XPeng Inc. is a cautious Buy, offering high potential but facing intense competition and execution risk in the Chinese EV and AI-driven automotive sector. Q2 results were lackluster with flat vehicle sales, high operating losses, and missed expectations, but operational execution in both low-budget and premium segments shows promise. Long-term upside hinges on scaling software, AI, and robotics—licensing, subscriptions, and partnerships like Volkswagen could drive margin expansion beyond traditional auto sales.
XPENG (XPEV) is experiencing a new 52-week low following its mixed Q2 earnings report. The Chinese electric vehicle manufacturer reported an adjusted loss of RM
U.S. stocks traded mixed this morning, with the Dow Jones index gaining over 150 points on Monday.
The Dow traded up 0.29% to 53,429.01 while the NASDAQ fell 0.44% to 26,064.84. The S&P 500 also fell, dropping, 0.22% to 7,657.47.
Leading and Lagging Sectors
Consumer staples shares jumped by 1.5% on Monday.
In trading on Monday, information technology stocks fell by 1.7%.
Top Headline
XPeng Inc. (NYSE:XPEV) shares fell around 7% on Monday after the Chinese electric vehicle maker reported a wider-than-expected second-quarter loss and issued a third-quarter revenue outlook below Wall Street estimates.
XPeng reported second-quarter revenue of 19.74 billion Chinese yuan ($2.91 billion), up 8% year over year and 51.5% from the previous quarter. The figure missed the analyst consensus estimate of $2.95 billion. Adjusted loss per American depositary share was 1.29 yuan, or 19 cents, wider than the analyst consensus estimate for a loss of 0.76 yuan.
XPeng expects third-quarter deliveries of 115,000 to 121,000 vehicles. That represents a year-over-year change ranging from a 0.87% decline to 4.30% growth. The company forecast revenue of 21.70 billion yuan to 23.40 billion yuan, representing growth of 6.47% to 14.81%. The outlook came in below the analyst consensus estimate of 25.88 billion yuan.
Equities Trading UP
Napco Security Technologies Inc (NASDAQ:NSSC) shares shot up 11% to $42.36 after the company reported better-than-expected fourth-quarter financial results. Shares of Expion360 Inc (NASDAQ:XPON) got a boost, surging 92% to $6.59 after the company announced a $3.425 million acquisition of Eastern Louisiana Oil and Gas Exploration Prospect. The company announced the company commenced a $9 million offering of 2.117 million shares at $4.25 per share. Alvotech SA (NASDAQ:ALVO) shares were also up, gaining 9% to $4.84 after B of A Securities initiated coverage on the stock with a Buy rating and announced a $7 price target. Trending
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Equities Trading DOWN
Regenxbio Inc (NASDAQ:RGNX) shares dropped 25% to $8.09 after the company announced that the FDA placed a clinical hold on RGX-121 following the discovery of asymptomatic spine MRI findings in five participants in the CAMPSIITE study. Shares of Applied Optoelectronics Inc (NASDAQ:AAOI) were down 14% to $106.74 after the company announced a $600 million at-the-market equity offering. Azenta, Inc (NASDAQ:AZTA) was down, falling 10% to $33.52. Azenta named Martin Madaus as interim president and CEO. The company also reiterated its fourth-quarter revenue outlook. Commodities
In commodity news, oil traded down 3% to $84.48 while gold traded up 1.1% at $4,733.50.
Silver traded down 0.6% to $69.15 on Monday, while copper rose 0.4% to $6.6135.
Euro zone
European shares were mixed today. The eurozone’s STOXX 600 fell 0.1%, while Spain’s IBEX 35 Index rose 0.5%, London’s FTSE 100 gained 0.2%, Germany’s DAX declined 0.3%, while France’s CAC 40 fell 0.4%.
Asia Pacific Markets
Asian markets closed lower on Monday, with Japan’s Nikkei 225 falling 0.74%, Hong Kong’s Hang Seng index dipping 1.89%, China’s Shanghai Composite declining 0.59% and India’s BSE Sensex dropping 0.22%.
Economics
The Chicago Fed National Activity Index slipped to -0.08 in July from 0.06 in the previous month, indicating a slight deterioration in economic activity.
Xpeng (XPEV) stock is slipping on Monday morning after the Chinese electric vehicle (EV) maker posted weaker-than-expected earnings for its fiscal second quarter (Q2).
Yet, there were significant positives in XPEV’s financial release – just not in its core EV business.
Xpeng shares have been a major disappointment for investors in 2026, currently down nearly 50% versus its year-to-date high.
The standout positive from Xpeng’s earnings day arguably had little to do with electric vehicles.
XPEV’s robotics business raised more than $900 million in its first funding round, giving the unit a post-money valuation of more than $6.3 billion.
The round was led by IDG Capital, with Gaorong Ventures participating and Alibaba and Tencent joining as strategic investors.
Xpeng’s management said the financing represents the “largest single-round” private funding deal recorded in China’s embodied-AI industry.
That matters because XPEV is increasingly positioning itself as a Physical AI company rather than simply an EV manufacturer.
The proceeds will support humanoid-robot hardware and software development, Physical AI model training, data generation, manufacturing infrastructure and international commercialization.
XPeng plans to produce 1,000 IRON humanoid robots per month by the end of 2026, with initial deployments targeted at retail and industrial locations before broader commercial sales in 2027.
Other non-core positives in XPEV’s quarterly release include an exciting 94% year-on-year growth in services and other businesses sales to about RMB2.70 billion ($400 million), driven by technical research and development services provided to an automaker and stronger parts and accessories revenue.
XPEV stock is worth buying on the dip because that actually helped the firm’s overall gross margin climb 340bps to 20.7% in Q2.
Xpeng shares cratered on August 24 primarily because investors are still valuing the firm primarily on what its EV operation can deliver today.
And on that front, the Q2 numbers were less convincing. XPeng delivered 103,295 vehicles during the quarter, up a substantial 64.8% sequentially, but just 0.1% from the same period last year.
Vehicle-sales revenue rose only 1% year over year to RMB17.05 billion.
More importantly, vehicle margin tanked to 12.1% from 14.3% a year earlier, even though overall gross margin improved, which management attributed to a product-generation transition.
XPEV’s net loss also widened sharply to RMB1.34 billion from just RMB480 million a year earlier – while adjusted loss per ADS came in at RMB1.29 versus a FactSet estimate of RMB0.91.
Then came the bigger warning sign: Q3 guidance. XPeng expects revenue of RMB21.7 billion to RMB23.4 billion, well below the RMB26.69 billion FactSet consensus.
It expects about 118,000 deliveries, which would represent sequential growth but only between a 0.87% decline and a 4.3% increase from a year earlier.
In other words, XPeng is growing volume from the weak Q1 base, but investors aren’t yet seeing evidence of accelerating underlying demand or improving vehicle economics.
Should you buy the post-earnings dip in Xpeng?Together, all of it leaves XPEV shares with an unusual investment story. The company is producing evidence that its technology platform can extend beyond cars, and the $900-million-plus robotics financing provides meaningful external validation.
But investors cannot ignore the fact that the EV business still generates the overwhelming majority of revenue and remains under pressure from intense competition in China's auto market.
The good news is that XPeng entered the second half with RMB40.48 billion in cash, equivalents, restricted cash, short-term investments and time deposits.
It also has a growing pipeline of new models, while executives expect recent launches to support future volume and product mix.
For shareholders, however, the next test is straightforward: can XPeng turn its tech advantage into better economics? The robotics business could ultimately become a valuable standalone asset – while services and Physical AI could diversify revenue.
But until vehicle margins recover and guidance starts pointing toward stronger year-over-year growth, the Street is likely to keep treating those opportunities as promising — rather than proven.
And that explains Monday's reaction. XPeng's release contained some impressive developments, particularly in robotics. But the stock market is demanding evidence that the company's ambitious future is beginning to improve its core EV business today.
Chinese EV maker Xpeng (9868.HK) forecast third-quarter revenue below Wall Street expectations on Monday, hurt by intensifying competition in the domestic auto market.
The company's U.S.-listed shares fell 3.1% in premarket trading, on course to widen this year's losses of about 40% as of Friday.
Here are some details:
Xpeng forecast third-quarter revenue between 21.7 billion yuan ($3.23 billion) and 23.4 billion yuan, below analysts' average estimate of 26.61 billion yuan, according to data compiled by LSEG.
It delivered 103,295 units in the second quarter ended June 30, within its forecast range of 100,000 to 106,000 units.
"During the second quarter of 2026, our operations remained resilient despite industry-wide cost pressures," Xpeng's Vice Chairman and Co-President Hongdi Brian Gu said.
Chinese domestic car sales have been in steady decline since late last year, as weak consumer demand and years of intense price competition have left the world's biggest auto market glutted with excess capacity, pushing automakers to step up exports and overseas expansion.
Xpeng posted second-quarter net loss attributable to ordinary shareholders of 1.34 billion yuan, far higher than estimates of a loss of 511.8 million yuan.
It also recalled 264,842 EVs as part of a broader China recall involving about 4.3 million vehicles over emergency door-release concerns.
Last month, the company launched its MONA L03, AI SUV coupe.
Separately, Xpeng's robotics unit raised more than $900 million in its first funding round, setting a record for a single private financing in China's embodied AI sector.
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Chinese electric-vehicle ADRs are driving Monday morning’s selling. XPeng (NYSE:XPEV | XPEV Price Prediction) stock is down 7% to $11.40 after a Q2 2026 revenue miss and soft Q3 2026 outlook overshadowed a record valuation for the company’s humanoid robotics arm. Meanwhile, NIO (NYSE:NIO) stock is dropping 4% to $4.45 in sympathy with its Chinese EV peer.
Tesla (NASDAQ:TSLA) stock is sliding 2% to $354.06, a milder cut than the ADRs. Also, Lucid (NASDAQ:LCID) shares are slipping 1% to $5.46, while Rivian (NASDAQ:RIVN) stock is rising 0.7% to $17.09 against the trend. XPeng stock was down 40% year to date (YTD) through Friday’s close, extending an already brutal run.
Q2 Revenue Miss and Softer Outlook Take Center Stage XPeng reported Q2 2026 revenue of RMB19.74 billion (US$2.91 billion), up 8% year over year (YoY) and up 51.5% quarter over quarter, though below Wall Street expectations. Deliveries totaled 103,295 units, up 0.1% YoY, and gross margin expanded to 20.7% from 17.3% from a year earlier. Vehicle margin fell to 12.1% from 14.3% as XPeng absorbed a product-generation transition.
The larger issue is the Q3 guide. XPeng guided Q3 revenue to RMB21.7 billion to RMB23.4 billion against Wall Street’s RMB25.88 billion consensus per Fiscal.ai via Stocktwits, with Q3 deliveries at 115,000 to 121,000 units versus 116,007 year over year. The non-GAAP loss landed at RMB1.29 per American depositary share, wider than expected, while R&D expenses climbed 32% to RMB2.91 billion even as the cash pile held at RMB40.48 billion (US$5.97 billion) as of June 30.
IRON Draws Tencent and Alibaba Into a $6.3B Round XPeng’s robotics business raised over US$900 million at a post-money valuation above US$6.3 billion, the largest single-round private financing in China’s embodied AI industry. IDG Capital led the round, with Gaorong Ventures participating and Tencent and Alibaba (NYSE:BABA) joining as strategic investors. Notably, Alibaba stock is down 1% to $117.60 in Monday trading, though the strategic tie signals deepening Chinese-tech alignment behind physical AI.
XPeng retains controlling ownership of the robotics unit and will consolidate it in group financials. The IRON humanoid robot carries 76 degrees of freedom across the body and 21 in each hand, runs on three Turing AI chips delivering up to 2,250 TOPS, and targets mass production by the end of 2026. Initial commercial deployments are planned inside XPeng stores and campuses, with large-scale customer deliveries in China and overseas beginning in 2027.
XPeng Chairman and CEO He Xiaopeng stated, “I believe XPENG will not only build one of China’s most valuable humanoid robotics companies, but also become a global leader in physical AI.” The valuation validates the R&D spend that has weighed on near-term earnings. Yet, the market is treating today’s action as an auto-margin story ahead of a robotics-optionality story.
EV Complex Splits Along Regional Lines The rotation inside the electric-vehicle group is telling. Chinese ADRs are absorbing the selling with XPeng down 7% and NIO down 4%, while Tesla’s 2% pullback and Lucid’s 1% slip look orderly by comparison, and Rivian shares are higher. The Global X Autonomous & Electric Vehicles ETF (NASDAQ:DRIV) offers a broader read, holding XPeng, NIO, Tesla, and Lucid inside its portfolio.
The earnings-day reaction pattern at XPeng favors caution. Even during a streak of five straight quarterly beats through Q1 2026, XPeng stock delivered a 10.3% day-of drop on Q3 2025 results and an 8.4% day-of decline on Q4 2025 results, and the average day-of change across those beats ran modestly negative. Today’s move on an actual miss fits that history, and the softer Q3 guide sharpens the concern.
For investors sizing their exposure to XPeng after today’s slide, position sizing matters more than usual (we wrote a free playbook on speculating with a small slice of a portfolio here: Small Stakes, Big Swings). The stock is a high-beta name with a robotics call option layered on top of a car business that just missed on the top line and guided Q3 below consensus. Investors should keep any new positions small enough to survive a similar release, and existing holders may want to trim exposure into strength rather than press into weakness.
Shareholders can watch for whether Q3 delivery momentum accelerates into September’s G9L flagship launch and Q4’s Mona L05 rollout in China. Traders could look for signs that XPeng’s overseas ramp, with quarterly international deliveries above 20,000 units in Q2, offsets the domestic guide. The XPeng conference call is the focus, and price action into Monday’s close can tell investors how much robotics optionality the market will underwrite from here.
Contact [email protected] for any questions or corrections.
Smart Money Is Buying Auto Suppliers, Not Car BrandsXPENG NYSE: XPEV said its robotics business raised more than $900 million in an initial financing round at a post-money valuation exceeding $6.2 billion, as the electric-vehicle maker outlined plans to begin scaled production of its Iron humanoid robot by the end of 2026.
Chief Executive Officer He Xiaopeng said the financing was led by IDG Capital, with Gaorong Ventures participating and Tencent and Alibaba serving as strategic investors. He said the funding would support development and mass production of Iron, while adding resources for the company’s robotics ecosystem and real-world applications.
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Act Fast: These 3 Undervalued Stocks Won’t Stay Low for LongHe, who has led XPeng’s robotics business in addition to serving as the company’s CEO since June, said the company intends to apply resources developed in its automotive operations—including automotive-grade manufacturing, supply-chain relationships, Turing AI chips, AI infrastructure and autonomous-driving data capabilities—to humanoid robotics.
Iron production and commercialization plans XPeng said its Iron robot incorporates a full in-house technology stack spanning the body, AI “brain,” motion-control systems, data and infrastructure. The company said Iron has 76 degrees of freedom across its body and 21 degrees of freedom in each hand. It is powered by three Turing AI chips providing up to 2,250 TOPS of computing power, according to management.
MarketBeat Week in Review – 04/14 - 04/18The company plans to enter scaled production of Iron by the end of 2026. Initial commercial deployments are expected at XPeng stores and campuses, followed by use in the company’s own commercial settings and selected external applications in the first half of 2027.
XPeng plans to formally launch Iron in 2027 for external retail and service-sector customers in China and overseas. He said monthly production capacity could rise to several thousand units next year based on market demand, though management did not provide a full-year delivery target.
In response to questions about economics, He said more than 85% of Iron’s supply-chain partners overlap with XPeng’s automotive supply chain. He said Chinese robots are generally priced at about 2.5 to three times their bill of materials, and XPeng expects Iron hardware gross margins to exceed those of its vehicle business. Management also expects potential recurring revenue from AI-model upgrades, software and related services.
Vice Chairman and President Brian Gu said it was too early to provide a profitability timeline or volume guidance for the robotics business. However, he said the company expects humanoid robots to have greater gross-profit potential than automobiles and potentially require lower investment and capital expenditures once production ramps up.
Gu added that the robotics unit remains consolidated with XPeng’s operations. While the company has an 18-month period to work toward a separation under the announced arrangement, management said it remains focused on operational synergies between the vehicle and robotics businesses.
Second-quarter financial results For the second quarter of 2026, XPeng reported total revenue of RMB19.74 billion, up 8% from a year earlier and 51.5% sequentially. Vehicle sales revenue rose 1% year over year and 55% from the first quarter to RMB17.05 billion, driven primarily by higher deliveries.
Services and other revenue increased 93.9% from a year earlier to RMB2.7 billion. Vice President of Finance and Accounting James Wu attributed the increase mainly to technical research and development services provided to Volkswagen Group after certain project milestones were achieved, as well as parts and accessories sales.
Second-quarter vehicle deliveries were 103,295, up 65% sequentially. Gross margin was 20.7%, compared with 17.3% a year earlier and 20.6% in the first quarter. Vehicle margin was 12.1%, unchanged from the first quarter and down from 14.3% a year earlier, which Wu attributed primarily to a production-generation transition. Research and development expenses rose 32.1% year over year to RMB2.91 billion, reflecting investment in vehicle models and AI-related technologies. Net loss was RMB1.34 billion, compared with a RMB480 million loss a year earlier and a RMB1.7 billion loss in the first quarter. Cash stood at RMB40.48 billion as of June 30. Vehicle launches, international growth and guidance He said XPeng’s GX flagship SUV delivered more than 7,000 units in China during July, placing it among the top three new-energy SUV models priced above RMB300,000, according to the company. He also said orders for the MONA L03 SUV set a record for an XPeng model, while new noncancelable orders in July and August rose more than 50% sequentially to a record high.
The company said extreme weather and supply-chain disruptions affected its production ramp, but it has begun two-shift production for the MONA L03. XPeng plans to launch and begin deliveries of its G9L five-seat SUV in September and introduce the MONA L05 in China during the fourth quarter. Management is targeting monthly vehicle deliveries above 60,000 units in the fourth quarter.
Overseas deliveries exceeded 20,000 vehicles in the second quarter, rising 81% year over year, XPeng said. International operations represented more than 25% of first-half revenue, with average export selling prices above €40,000. The company expects overseas deliveries of the MONA L03 to begin in the fourth quarter and said this could lift quarterly overseas deliveries above 40,000 units.
For the third quarter, XPeng forecast deliveries of 115,000 to 121,000 vehicles, representing sequential growth of 11.3% to 17.1%. It projected revenue of RMB21.7 billion to RMB23.4 billion, up 9.9% to 18.5% from the second quarter.
ADAS and Robotaxi ambitions XPeng also said it plans to roll out version 6.3.0 of its VLA 2.0 driver-assistance system beginning in late August. The company said the update will increase on-device model parameters by 3.5 times, improve perception sensitivity by 300%, and add longer-horizon reasoning capabilities.
Management said it aims to obtain European regulatory approval for VLA 2.0 in the first half of 2027. XPeng said its VLA-powered Robotaxi fleet has completed more than 2,000 internal test orders in Guangzhou, and the company aims to begin passenger operations without an in-car safety operator next year.
About XPENG (NYSE:XPEV)XPENG Inc NYSE: XPEV is a China-based developer and manufacturer of smart electric vehicles. The company designs, engineers and sells battery-electric sedans and sport-utility vehicles along with related software and services. Founded in 2014, XPENG positions itself as a technology-driven automaker with a focus on vehicle connectivity, software-defined features and advanced driver assistance systems.
Product offerings center on passenger EVs spanning compact crossovers and midsize sedans, supported by in-house software platforms and over-the-air update capabilities.
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Cash position[i] was RMB40.48 billion (US$5.97 billion) as of June 30, 2026 Quarterly total revenues were RMB19.74 billion, a 51.5% increase quarter-over-quarter Quarterly gross margin was 20.7%, an increase of 3.4 percentage points over the same period of 2025 Quarterly vehicle margin was 12.1%, remained relatively stable quarter-over-quarter , /PRNewswire/ -- XPeng Inc. ("XPENG" or the "Company,"NYSE: XPEV and HKEX: 9868), a leading global Physical AI company, today announced its unaudited financial results for the three months ended June 30, 2026.
Operational and Financial Highlights for the Three Months Ended June 30, 2026
2026Q2
2026Q1
2025Q4
2025Q3
2025Q2
2025Q1
Total deliveries
103,295
62,682
116,249
116,007
103,181
94,008
Total deliveries of vehicles were 103,295 for the second quarter of 2026, representing an increase of 0.1% from 103,181 in the corresponding period of 2025. XPENG's physical sales network had a total of 740 stores, covering 257 cities as of June 30, 2026. XPENG self-operated charging station network reached 3,780 stations, including 2,720 XPENG ultra-fast charging stations as of June 30, 2026. Total revenues were RMB19.74 billion (US$2.91 billion) for the second quarter of 2026, representing an increase of 8.0% from the same period of 2025, and an increase of 51.5% from the first quarter of 2026. Revenues from vehicle sales were RMB17.05 billion (US$2.51 billion) for the second quarter of 2026, representing an increase of 1.0% from the same period of 2025, and an increase of 55.0% from the first quarter of 2026. Gross margin was 20.7% for the second quarter of 2026, compared with 17.3% for the same period of 2025 and 20.6% for the first quarter of 2026. Vehicle margin, which is gross profit of vehicle sales as a percentage of vehicle sales revenue, was 12.1% for the second quarter of 2026, compared with 14.3% for the same period of 2025 and 12.1% for the first quarter of 2026. Net loss was RMB1.34 billion (US$0.20 billion) for the second quarter of 2026, compared with a loss of RMB0.48 billion for the same period of 2025 and a loss of RMB1.78 billion for the first quarter of 2026. Excluding share-based compensation expenses and fair value gain on derivative liability relating to the contingent consideration, non-GAAP net loss was RMB1.24 billion (US$0.18 billion) for the second quarter of 2026, compared with a loss of RMB0.39 billion for the same period of 2025 and a loss of RMB1.69 billion for the first quarter of 2026. Net loss attributable to ordinary shareholders of XPENG was RMB1.34 billion (US$0.20 billion) for the second quarter of 2026, compared with a loss of RMB0.48 billion for the same period of 2025 and a loss of RMB1.78 billion for the first quarter of 2026. Excluding share-based compensation expenses and fair value gain on derivative liability relating to the contingent consideration, non-GAAP net loss attributable to ordinary shareholders of XPENG was RMB1.24 billion (US$0.18 billion) for the second quarter of 2026, compared with a loss of RMB0.39 billion for the same period of 2025 and a loss of RMB1.69 billion for the first quarter of 2026. Basic and diluted net loss per American depositary share (ADS) were both RMB1.40 (US$0.21) and basic and diluted net loss per ordinary share were both RMB0.70 (US$0.10) for the second quarter of 2026. Each ADS represents two Class A ordinary shares. Non-GAAP basic and diluted net loss per ADS were both RMB1.29 (US$0.19), and non-GAAP basic and diluted net loss per ordinary share were both RMB0.65 (US$0.10) for the second quarter of 2026. Cash position was RMB40.48 billion (US$5.97 billion) as of June 30, 2026, compared with RMB42.09 billion as of March 31, 2026. [i] Cash position includes cash and cash equivalents, restricted cash, short-term investments and time deposits. 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.
Key Financial Results
(in RMB billions, except for percentages)
For the Three Months Ended
% Change[ii]
June 30,
March 31,
June 30,
2026
2026
2025
YoY
QoQ
Vehicle sales
17.05
11.00
16.88
1.0 %
55.0 %
Vehicle margin
12.1 %
12.1 %
14.3 %
-2.2 pts
0.0 pts
Total revenues
19.74
13.03
18.27
8.0 %
51.5 %
Gross profit
4.08
2.68
3.17
28.9 %
52.2 %
Gross margin
20.7 %
20.6 %
17.3 %
3.4 pts
0.1 pts
Net loss
1.34
1.78
0.48
179.9 %
-25.1 %
Non-GAAP net loss
1.24
1.69
0.39
221.1 %
-26.6 %
Net loss attributable to ordinary
shareholders
1.34
1.78
0.48
179.9 %
-25.1 %
Non-GAAP net loss attributable
to ordinary shareholders
1.24
1.69
0.39
221.1 %
-26.6 %
Comprehensive loss attributable
to ordinary shareholders
1.60
2.06
0.49
223.4 %
-22.4 %
[ii] Except for vehicle margin and gross margin, where absolute changes instead of percentage changes are presented.
Management Commentary
"The back-to-back success of the GX and MONA L03 gives us greater confidence in our upcoming new models, as we translate our leading edge in smart technologies and design into more blockbuster products and stronger brand momentum," said Mr. Xiaopeng He, Chairman and CEO of XPENG. "The development of the mass-production version of XPENG's humanoid robot has recently reached several significant milestones. I believe XPENG will not only build one of China's most valuable humanoid robotics companies, but also become a global leader in physical AI, spearheading the large-scale adoption and commercialization of advanced general-purpose humanoid robots and autonomous driving technologies in China and overseas."
"During the second quarter of 2026, our operations remained resilient despite industry-wide cost pressures. Driven by breakthroughs in our premiumization and globalization efforts, our gross margin continued to exceed 20%," added Dr. Hongdi Brian Gu, Vice Chairman and Co-President of XPENG. "I expect the mass production and commercialization of physical AI technologies to accelerate over the coming year, generating meaningful gross profit growth to support our continued R&D investment in physical AI."
Recent Developments
Deliveries in July 2026
Total deliveries were 38,027 vehicles in July 2026. As of July 31, 2026, year-to-date total deliveries were 204,004 vehicles. Launch of MONA L03
On July 16, 2026, XPENG held the global launch event of MONA L03, the Next-Gen AI SUV Coupe, in Munich, Germany.
Entering into the Dogotix Share Purchase Agreement
On August 24, 2026, Dogotix Inc. (a subsidiary of the Company) entered into a share purchase agreement (the "Dogotix Share Purchase Agreement") with, among others, certain subscribers, pursuant to which such subscribers conditionally agreed to subscribe for certain shares to be newly issued by Dogotix Inc. at an aggregate purchase price of US$900 million. For details, please refer to the announcement of the Company dated August 24, 2026, in relation to, among others, the Dogotix Share Purchase Agreement.
Unaudited Financial Results for the Three Months Ended June 30, 2026
Total revenues were RMB19.74 billion (US$2.91 billion) for the second quarter of 2026, representing an increase of 8.0% from RMB18.27 billion for the same period of 2025 and an increase of 51.5% from RMB13.03 billion for the first quarter of 2026.
Revenues from vehicle sales were RMB17.05 billion (US$2.51 billion) for the second quarter of 2026, representing an increase of 1.0% from RMB16.88 billion for the same period of 2025, and an increase of 55.0% from RMB11.00 billion for the first quarter of 2026. The quarter-over-quarter increase was mainly attributable to higher vehicle deliveries.
Revenues from services and others were RMB2.70 billion (US$0.40 billion) for the second quarter of 2026, representing an increase of 93.9% from RMB1.39 billion for the same period of 2025 and an increase of 32.6% from RMB2.03 billion for the first quarter of 2026. The year-over-year and quarter-over-quarter increases were primarily attributable to increased revenues from (i) technical research and development services ("technical R&D services") rendered to a car manufacturer (the "Manufacturer") with the successful achievement of certain key milestones in the current period, under the agreement entered into with the Manufacturer; and (ii) parts and accessories sales.
Cost of sales was RMB15.66 billion (US$2.31 billion) for the second quarter of 2026, representing an increase of 3.7% from RMB15.11 billion for the same period of 2025 and an increase of 51.3% from RMB10.35 billion for the first quarter of 2026. The quarter-over-quarter increase was mainly in line with vehicle deliveries as described above.
Gross margin was 20.7% for the second quarter of 2026, compared with 17.3% for the same period of 2025 and 20.6% for the first quarter of 2026.
Vehicle margin was 12.1% for the second quarter of 2026, compared with 14.3% for the same period of 2025 and 12.1% for the first quarter of 2026. The year-over-year decrease was due to product generation transition.
Services and others margin was 75.1% for the second quarter of 2026, compared with 53.6% for the same period of 2025 and 66.5% for the first quarter of 2026. The year-over-year and quarter-over-quarter increases were attributable to the aforementioned revenue from technical R&D services and parts and accessories sales.
Research and development expenses were RMB2.91 billion (US$0.43 billion) for the second quarter of 2026, representing an increase of 32.1% from RMB2.21 billion for the same period of 2025 and an increase of 0.3% from RMB2.91 billion for the first quarter of 2026. The year-over-year increase was mainly due to higher expenses related to the development of new vehicle models and AI-related technologies as the Company expanded its product portfolio to support future growth.
Selling, general and administrative expenses were RMB2.50 billion (US$0.37 billion) for the second quarter of 2026, representing an increase of 15.2% from RMB2.17 billion for the same period of 2025 and an increase of 32.5% from RMB1.88 billion for the first quarter of 2026. The year-over-year increase was primarily due to higher marketing and advertising expenses. The quarter-over-quarter increase was primarily due to the higher commission to the franchised stores and higher marketing and advertising expenses.
Other income, net was RMB0.14 billion (US$0.02 billion) for the second quarter of 2026, representing a decrease of 42.2% from RMB0.24 billion for the same period of 2025 and a decrease of 24.7% from RMB0.18 billion for the first quarter of 2026. The year-over-year and quarter-over-quarter decreases were primarily due to the decrease in receipt of government subsidies.
Fair value gain on derivative liability relating to the contingent consideration was a gain of RMB0.05 billion (US$0.01 billion) for the second quarter of 2026, compared with a gain of RMB0.03 billion for the same period of 2025 and a gain of RMB0.05 billion for the first quarter of 2026. This non-cash gain resulted from the fair value change of the contingent consideration related to the acquisition of DiDi Global Inc. ("DiDi")'s smart auto business.
Loss from operations was RMB1.14 billion (US$0.17 billion) for the second quarter of 2026, compared with RMB0.93 billion for the same period of 2025 and RMB1.87 billion for the first quarter of 2026.
Non-GAAP loss from operations, which excludes share-based compensation expenses and fair value gain on derivative liability relating to the contingent consideration, was RMB1.04 billion (US$0.15 billion) for the second quarter of 2026, compared with a loss of RMB0.84 billion for the same period of 2025 and a loss of RMB1.78 billion for the first quarter of 2026.
Net loss was RMB1.34 billion (US$0.20 billion) for the second quarter of 2026, compared with a loss of RMB0.48 billion for the same period of 2025 and a loss of RMB1.78 billion for the first quarter of 2026.
Non-GAAP net loss, which excludes share-based compensation expenses and fair value gain on derivative liability relating to the contingent consideration, was RMB1.24 billion (US$0.18 billion) for the second quarter of 2026, compared with a loss of RMB0.39 billion for the same period of 2025 and a loss of RMB1.69 billion for the first quarter of 2026.
Net loss attributable to ordinary shareholders of XPENG was RMB1.34 billion (US$0.20 billion) for the second quarter of 2026, compared with a loss of RMB0.48 billion for the same period of 2025 and a loss of RMB1.78 billion for the first quarter of 2026.
Non-GAAP net loss attributable to ordinary shareholders of XPENG, which excludes share-based compensation expenses and fair value gain on derivative liability relating to the contingent consideration, was RMB1.24 billion (US$0.18 billion) for the second quarter of 2026, compared with a loss of RMB0.39 billion for the same period of 2025 and a loss of RMB1.69 billion for the first quarter of 2026.
Basic and diluted net loss per ADS were both RMB1.40 (US$0.21) for the second quarter of 2026, compared with RMB0.50 basic and diluted net loss per ADS for the second quarter of 2025 and RMB1.87 basic and diluted net loss per ADS for the first quarter of 2026.
Non-GAAP basic and diluted net loss per ADS were both RMB1.29 (US$0.19) for the second quarter of 2026, compared with RMB0.41 non-GAAP basic and diluted net loss per ADS for the second quarter of 2025 and RMB1.76 non-GAAP basic and diluted net loss per ADS for the first quarter of 2026.
Balance Sheets
As of June 30, 2026, the Company had a cash position of RMB40.48 billion (US$5.97 billion), compared with RMB42.09 billion as of March 31, 2026.
Business Outlook
For the third quarter of 2026, the Company expects:
Deliveries of vehicles to be between 115,000 and 121,000, representing a year-over-year change of approximately -0.87% to +4.30%, and a quarter-over-quarter increase of approximately 11.33% to 17.14%. Total revenues to be between RMB21.7 billion and RMB23.4 billion, representing a year-over-year increase of approximately 6.47% to 14.81%, and a quarter-over-quarter increase of approximately 9.91% to 18.52%. The above outlook is based on the current market conditions and reflects the Company's preliminary estimates of market and operating conditions, and customer demand, which are all subject to change.
Conference Call
The Company's management will host an earnings conference call at 8:00 AM U.S. Eastern Time on August 24, 2026 (8:00 PM Beijing/Hong Kong Time on August 24, 2026).
For participants who wish to join the call by phone, please access the link provided below to complete the pre-registration process and dial in 5 minutes prior to the scheduled call start time. Upon registration, each participant will receive dial-in details to join the conference call.
Additionally, a live and archived webcast of the conference call will be available on the Company's investor relations website at http://ir.xiaopeng.com.
A replay of the conference call will be accessible approximately an hour after the conclusion of the call until September 1, 2026, by dialing the following telephone numbers:
United States:
+1-855-883-1031
International:
+61-7-3107-6325
Hong Kong, China:
800-930-639
Chinese Mainland:
400-120-9216
Replay Access Code:
10056093
About XPENG
XPENG is a leading global Physical AI company, dedicated to bringing artificial intelligence into the physical world to reshape future mobility and smart living. Through in-house R&D, XPENG has developed a full-stack Physical AI architecture spanning Turing AI chips, world foundation models, and highly integrated software and hardware applications. This unified technology foundation of XPENG powers an expansive product portfolio of smart EVs, robotaxis, and humanoid robots, advancing the deployment of Physical AI at scale. Headquartered in Guangzhou, China, XPENG is dual-primary listed on the New York Stock Exchange and the Hong Kong Stock Exchange. With global capabilities across R&D, manufacturing, sales, and services, XPENG drives continuous technological innovation and fosters an open Physical AI ecosystem, making life smarter, safer, and better for users worldwide. For more information, please visit https://www.xpeng.com/.
Use of Non-GAAP Financial Measures
The Company uses non-GAAP measures, such as non-GAAP loss from operations, non-GAAP net loss, non-GAAP net loss attributable to ordinary shareholders, non-GAAP basic loss per ordinary share and non-GAAP basic loss per ADS, in evaluating its operating results and for financial and operational decision-making purposes. By excluding the impact of share-based compensation expenses and fair value gain on derivative liability relating to the contingent consideration, the Company believes that the non-GAAP financial measures help identify underlying trends in its business and enhance the overall understanding of the Company's past performance and future prospects. The Company also believes that the non-GAAP financial measures allow for greater visibility with respect to key metrics used by the Company's management in its financial and operational decision-making. The non-GAAP financial measures are not presented in accordance with U.S. GAAP and may be different from non-GAAP methods of accounting and reporting used by other companies. The non-GAAP financial measures have limitations as analytical tools and when assessing the Company's operating performance, investors should not consider them in isolation, or as a substitute for net loss or other consolidated statements of comprehensive loss data prepared in accordance with U.S. GAAP. The Company encourages investors and others to review its financial information in its entirety and not rely on a single financial measure. The Company mitigates these limitations by reconciling the non-GAAP financial measures to the most comparable U.S. GAAP performance measures, all of which should be considered when evaluating the Company's performance.
For more information on the non-GAAP financial measures, please see the table captioned "Unaudited Reconciliations of GAAP and non-GAAP Results" set forth in this announcement.
Exchange Rate Information
This announcement contains translations of certain RMB amounts into U.S. dollars at a specified rate solely for the convenience of the reader. Unless otherwise noted, all translations from RMB to U.S. dollars and from U.S. dollars to RMB are made at a rate of RMB6.79 to US$1.00, the exchange rate on June 30, 2026, set forth in the H.10 statistical release of the Federal Reserve Board. The Company makes no representation that the RMB or U.S. dollar amounts referred to could be converted into U.S. dollars or RMB, as the case may be, at any particular rate or at all.
Safe Harbor Statement
This announcement contains forward-looking statements. These statements are made under the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements. Statements that are not historical facts, including statements about XPENG's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: XPENG's goal and strategies; XPENG's expansion plans; XPENG's future business development, financial condition and results of operations; the trends in, and size of, China's EV market; XPENG's expectations regarding demand for, and market acceptance of, its products and services; XPENG's expectations regarding its relationships with customers, suppliers, third-party service providers, strategic partners and other stakeholders; general economic and business conditions; and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in XPENG's filings with the United States Securities and Exchange Commission. All information provided in this announcement is as of the date of this announcement, and XPENG does not undertake any obligation to update any forward-looking statement, except as required under applicable law.
For Investor Enquiries
IR Department
XPeng Inc.
E-mail: [email protected]
Jenny Cai
Piacente Financial Communications
Tel: +1-212-481-2050 or +86-10-6508-0677
E-mail: [email protected]
For Media Enquiries
PR Department
XPeng Inc.
E-mail: [email protected]
XPENG INC.
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS
(All amounts in thousands, except for ADS/ordinary share and per ADS/ordinary share data)
December 31,
June 30,
June 30,
2025
RMB
2026
RMB
2026
US$
ASSETS
Current assets
Cash and cash equivalents
17,329,612
14,238,387
2,098,479
Restricted cash
6,071,491
6,924,327
1,020,520
Short-term deposits
11,388,834
7,780,960
1,146,772
Restricted short-term deposits
296,277
1,207,694
177,992
Short-term investments
3,217,293
1,537,877
226,655
Long-term deposits, current portion
3,020,317
4,485,471
661,077
Restricted long-term deposits, current portion
600,472
—
—
Derivative assets
—
46,884
6,910
Accounts and notes receivable, net
1,996,917
1,140,279
168,056
Installment payment receivables, net,
current portion
3,553,054
3,729,175
549,612
Inventory
10,380,668
13,729,266
2,023,443
Amounts due from related parties
102,219
165,426
24,381
Prepayments and other current assets, net
5,296,673
6,519,738
960,889
Total current assets
63,253,827
61,505,484
9,064,786
Non-current assets
Long-term deposits
4,263,542
2,815,695
414,982
Restricted long-term deposits
1,468,708
1,488,663
219,402
Property, plant and equipment, net
13,527,237
17,874,208
2,634,332
Right-of-use assets, net
3,730,921
1,172,310
172,777
Intangible assets, net
4,253,168
3,985,127
587,335
Land use rights, net
3,216,526
3,475,115
512,169
Installment payment receivables, net
6,496,020
6,145,671
905,760
Long-term investments
2,523,037
2,708,224
399,143
Other non-current assets
429,644
415,819
61,284
Total non-current assets
39,908,803
40,080,832
5,907,184
Total assets
103,162,630
101,586,316
14,971,970
XPENG INC.
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS
(CONTINUED)
(All amounts in thousands, except for ADS/ordinary share and per ADS/ordinary share data)
December 31,
June 30,
June 30,
2025
2026
2026
RMB
RMB
US$
LIABILITIES
Current liabilities
Short-term borrowings
4,282,000
10,070,000
1,484,134
Accounts payable
18,001,675
15,721,318
2,317,036
Notes payable
19,161,724
13,993,642
2,062,408
Amounts due to related parties
1,064
397
59
Income taxes payable
44,682
65,560
9,662
Derivative liabilities
281,009
199,834
29,452
Operating lease liabilities, current portion
445,901
305,387
45,008
Finance lease liabilities, current portion
55,581
75,910
11,188
Deferred revenue, current portion
1,463,065
1,698,642
250,349
Long-term borrowings, current portion
1,837,950
706,156
104,075
Accruals and other liabilities
12,538,698
12,468,572
1,837,640
Total current liabilities
58,113,349
55,305,418
8,151,011
Non-current liabilities
Long-term borrowings
6,588,865
8,983,337
1,323,980
Operating lease liabilities
4,246,599
2,068,806
304,904
Finance lease liabilities
740,576
4,649,369
685,232
Deferred revenue
1,206,014
1,354,301
199,599
Deferred tax liabilities
330,353
330,341
48,686
Other non-current liabilities
1,568,284
1,885,892
277,946
Total non-current liabilities
14,680,691
19,272,046
2,840,347
Total liabilities
72,794,040
74,577,464
10,991,358
SHAREHOLDERS' EQUITY
Class A Ordinary shares
105
106
16
Class B Ordinary shares
21
21
3
Additional paid-in capital
71,236,011
71,532,962
10,542,654
Statutory and other reserves
137,720
161,535
23,807
Accumulated deficit
(42,767,710)
(45,912,689)
(6,766,693)
Accumulated other comprehensive income
1,762,443
1,226,917
180,825
Total shareholders' equity
30,368,590
27,008,852
3,980,612
Total liabilities and shareholders' equity
103,162,630
101,586,316
14,971,970
XPENG INC.
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF
COMPREHENSIVE LOSS
(All amounts in thousands, except for ADS/ordinary share and per ADS/ordinary share data)
Three Months Ended
June 30,
March 31,
June 30,
June 30,
2025
2026
2026
2026
RMB
RMB
RMB
US$
Revenues
Vehicle sales
16,883,696
10,999,321
17,046,476
2,512,340
Services and others
1,390,709
2,034,460
2,697,117
397,506
Total revenues
18,274,405
13,033,781
19,743,593
2,909,846
Cost of sales
Vehicle sales
(14,461,688)
(9,669,451)
(14,987,590)
(2,208,897)
Services and others
(645,387)
(681,737)
(672,521)
(99,117)
Total cost of sales
(15,107,075)
(10,351,188)
(15,660,111)
(2,308,014)
Gross profit
3,167,330
2,682,593
4,083,482
601,832
Operating expenses
Research and development expenses
(2,206,144)
(2,906,991)
(2,914,440)
(429,535)
Selling, general and administrative
expenses
(2,167,241)
(1,883,438)
(2,496,484)
(367,936)
Other income, net
237,402
182,249
137,250
20,228
Fair value gain on derivative liability
relating to the contingent
consideration
34,004
51,113
47,662
7,025
Total operating expenses, net
(4,101,979)
(4,557,067)
(5,226,012)
(770,218)
Loss from operations
(934,649)
(1,874,474)
(1,142,530)
(168,386)
Interest income
308,224
257,166
216,746
31,944
Interest expenses
(75,161)
(164,994)
(124,473)
(18,345)
Fair value (loss) gain on derivative
assets or derivative liabilities
—
(101)
36,969
5,449
Investment gain (loss) on long-term
investments
24,401
169,117
(140,377)
(20,689)
Exchange gain (loss) from foreign
currency transactions
142,684
(148,728)
(125,295)
(18,466)
Other non-operating income (expenses),
net
3,454
(959)
12,401
1,828
Loss before income tax benefit
(expenses) and share of results of
equity method investees
(531,047)
(1,762,973)
(1,266,559)
(186,665)
Income tax benefit (expenses)
9,421
(9,251)
(74,281)
(10,948)
Share of results of equity method
investees
43,872
(11,876)
3,776
557
Net loss
(477,754)
(1,784,100)
(1,337,064)
(197,056)
Net loss attributable to ordinary
shareholders of XPeng Inc.
(477,754)
(1,784,100)
(1,337,064)
(197,056)
XPENG INC.
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF
COMPREHENSIVE LOSS (CONTINUED)
(All amounts in thousands, except for ADS/ordinary share and per ADS/ordinary share data)
Three Months Ended
June 30,
March 31,
June 30,
June 30,
2025
2026
2026
2026
RMB
RMB
RMB
US$
Net loss
(477,754)
(1,784,100)
(1,337,064)
(197,056)
Other comprehensive loss
Foreign currency translation
adjustment, net of tax
(16,414)
(274,419)
(261,107)
(38,482)
Total comprehensive loss
attributable to XPeng Inc.
(494,168)
(2,058,519)
(1,598,171)
(235,538)
Comprehensive loss attributable to
ordinary shareholders of XPeng
Inc.
(494,168)
(2,058,519)
(1,598,171)
(235,538)
Weighted average number of
ordinary shares used in
computing net loss per ordinary
share
Basic and diluted
1,902,441,632
1,910,568,643
1,912,734,380
1,912,734,380
Net loss per ordinary share
attributable to ordinary
shareholders
Basic and diluted
(0.25)
(0.93)
(0.70)
(0.10)
Weighted average number of ADS
used in computing net loss per
share
Basic and diluted
951,220,816
955,284,322
956,367,190
956,367,190
Net loss per ADS attributable to
ordinary shareholders
Basic and diluted
(0.50)
(1.87)
(1.40)
(0.21)
XPENG INC.
UNAUDITED RECONCILIATIONS OF GAAP AND
NON-GAAP RESULTS
(All amounts in thousands, except for ADS/ordinary share and per ADS/ordinary share data)
Three Months Ended
June 30,
March 31,
June 30,
June 30,
2025
2026
2026
2026
RMB
RMB
RMB
US$
Loss from operations
(934,649)
(1,874,474)
(1,142,530)
(168,386)
Fair value gain on derivative liability
relating to the contingent consideration
(34,004)
(51,113)
(47,662)
(7,025)
Share-based compensation expenses
126,475
149,549
147,403
21,725
Non-GAAP loss from operations
(842,178)
(1,776,038)
(1,042,789)
(153,686)
Net loss
(477,754)
(1,784,100)
(1,337,064)
(197,056)
Fair value gain on derivative liability
relating to the contingent consideration
(34,004)
(51,113)
(47,662)
(7,025)
Share-based compensation expenses
126,475
149,549
147,403
21,725
Non-GAAP net loss
(385,283)
(1,685,664)
(1,237,323)
(182,356)
Net loss attributable to ordinary
shareholders
(477,754)
(1,784,100)
(1,337,064)
(197,056)
Fair value gain on derivative liability
relating to the contingent consideration
(34,004)
(51,113)
(47,662)
(7,025)
Share-based compensation expenses
126,475
149,549
147,403
21,725
Non-GAAP net loss attributable to
ordinary shareholders of XPeng Inc.
(385,283)
(1,685,664)
(1,237,323)
(182,356)
Weighted average number of ordinary
shares used in calculating Non-GAAP
net loss per share
Basic and diluted
1,902,441,632
1,910,568,643
1,912,734,380
1,912,734,380
Non-GAAP net loss per ordinary share
Basic and diluted
(0.20)
(0.88)
(0.65)
(0.10)
Weighted average number of ADS used
in calculating Non-GAAP net loss per
share
The Chinese EV maker remained in the red despite resilient margins, as heavy investment in new models and AI-related tech outweighed profits from its main business and higher-margin services.
Chinese automaker Xpeng (9868.HK) said on Monday its robotics unit had raised more than $900 million in its first funding round, setting a new record for a single private financing in China's embodied AI sector.
The funding round, led by IDG Capital and backed by strategic investors Tencent (0700.HK) and Alibaba (9988.HK), values the robotics business at more than $6.3 billion, Xpeng said in a statement.
The proceeds will be used to develop robotics hardware and software, train and refine physical AI models, collect high-quality data, build end-to-end mass-production facilities, and support global expansion, the company said.
Xpeng plans to begin mass production of its humanoid robot, Xpeng IRON, by year-end, with initial deployments at its retail stores and industrial campuses. Commercial sales and deliveries in China and overseas markets are scheduled to begin in 2027.
CEO He Xiaopeng announced in June that he would personally lead the robotics business as the electric vehicle maker, seen as one of the leading automaker-backed developers of humanoid robots, pushes towards mass production.
The robotics sector has attracted growing interest from automakers, which see parallels with intelligent vehicle development, including expertise in sensors, software, batteries and supply-chain management.
In April, Shanghai-based embodied AI startup TARS Robotics raised more than $455 million in a pre-A funding round, a deal that was then billed as the largest single private financing in China's embodied AI sector.
XPENG robotics business raises over US$900 million, at a post-money valuation of over US$6.3 billion, marking the largest single-round private financing ever recorded in China's embodied AI industry. This round was initiated by leading global investors, led by IDG Capital, with participation from Gaorong Ventures and support from Tencent and Alibaba as strategic investors. The funding will accelerate XPENG humanoid robotics mass production and Physical AI model R&D iterations, driving advanced general-purpose humanoid robot toward a new stage of global commercialization. , /PRNewswire/ -- XPeng Inc. ("XPENG" or the "Company,"NYSE: XPEV and HKEX: 9868), a leading global Physical AI company, announced today that its robotics business has entered into share purchase agreements with multiple investors, raising over US$900 million at a post-money valuation of over US$6.3 billion, which marks the largest single-round private capital raise in China's embodied AI industry to date.
This round was initiated by leading global investors, led by IDG Capital, with participation from Gaorong Ventures and support from Tencent and Alibaba as strategic investors. With the amount of this first funding round and post-money valuation setting new industry records, this reflects strong investor confidence in XPENG's leadership in Physical AI, technology roadmap, ability to scale production, and long-term commercial potential. It also brings valuable strategic resources to accelerate the development of XPENG's robotics ecosystem and expand its real-world applications.
As a key pillar of XPENG's Physical AI strategy, XPENG's next-generation IRON is an advanced humanoid robot combining highly human-like form and movement with AI-driven intelligence, designed to meet the highest safety standards. It is being developed as an advanced general-purpose humanoid robot platform, capable of supporting a broad range of applications and continuously improving through self-reinforcement in the real world. To achieve this vision, XPENG has built a fully integrated, in-house technology stack spanning both hardware and software, covering every core layer of the robot, from its physical architecture and actuation systems to its AI and control systems.
At the hardware level, XPENG IRON features an industry-leading human-like form and design, with a proprietary fully enclosed flexible lattice structure designed to balance aesthetics and safety. With 76 degrees of freedom (DOF) across the body and 21 in each hand, IRON delivers industry-leading levels of dexterity and mobility. Underpinning these capabilities is an AI-native hardware platform that XPENG has designed and developed in-house, together with the full range of core components, including chips, controllers, motion modules and dexterous hands. Leveraging XPENG's established capabilities in intelligent EV research and development, as well as manufacturing infrastructure, the company is bringing automotive-grade quality standards and large-scale mass production and delivery capabilities to humanoid robotics.
On the intelligence side, XPENG IRON is powered by three Turing AI chips delivering up to 2,250 TOPS of effective computing power. This computing power enables XPENG to deploy its Physical AI foundation model directly on the robot, enabling IRON to autonomously perform complex tasks without remote operation, while ensuring low-latency inference and enhanced data security. IRON's highly human-like hardware platform gives XPENG a natural advantage in scaling and leveraging a broad range of behavioral data generated through everyday human activities, while enabling IRON to quickly adapt to applications and environments designed for people. As IRON enters mass production and real-world deployment, this will create a data-model-application flywheel, accelerating the humanoid robot's ability to learn, improve and expand into new scenarios.
This financing round establishes a clear market valuation for XPENG robotics business, providing diversified capital to support long-term investment in full-stack Physical AI development, while strengthening long-term incentive mechanisms for senior executives and key talent. Upon closing, XPENG will retain controlling ownership of the robotics business, which will continue to be consolidated into the Group's financial statements.
The latest funding will primarily support software and hardware R&D for XPENG robotics business, the training and iteration of its Physical AI models, high-quality data generation, the development of end-to-end mass production facilities, and global commercial expansion. XPENG IRON is expected to enter mass production by the end of 2026, with initial commercial deployment at XPENG's stores and campuses, before officially launching and beginning deliveries in China and overseas markets in 2027.
IDG Capital said: "The embodied AI industry stands at a pivotal juncture, transitioning from technical breakthroughs to scalable manufacturing and commercial deployment. XPENG's humanoid robot exemplifies the current standard of excellence in China's humanoid robotics industry and possesses the competitive strength to succeed in global markets. XPENG has established a comprehensive, integrated full-stack capability across edge AI processors, Physical AI foundation models, and complete robotic systems, underpinned by industry-leading on-device compute, training compute, and a robust high-quality data flywheel. The robotics business also benefits from significant strategic synergies with XPENG's smart EV and autonomous driving businesses. We believe these advantages will make XPENG a leader in driving the humanoid robotics industry toward real-world deployment at scale."
Gaorong Ventures said: "Humanoid robot is moving beyond demonstrations of mobility and dexterity toward reliable mass production and tangible value creation in real-world settings. With its highly anthropomorphic form factor and automotive-grade standards for safety and quality, XPENG IRON is built for commercial deployment. It serves not only as an intuitive, human-centered interface but also as a critical gateway to real-world data, powering a self-reinforcing 'Production–Data–Models–Deployment' flywheel. By systematically translating its full-stack R&D, supply chain, and manufacturing capabilities—honed over more than a decade in the smart EV sector—into robotics, XPENG is laying a solid foundation for the industrialization of humanoid robots. Gaorong has long recognized the XPENG team's strengths in product definition and engineering execution. We look forward to partnering with XPENG to propel China's Physical AI innovations onto the global stage."
He Xiaopeng, Chairman & CEO of XPENG, said: "Over the past 12 years, XPENG has remained committed to full-stack in-house R&D, building a solid technological foundation for the physical AI era—across our physical world foundation model, Turing AI chips, and AI infrastructure. This has enabled us to pioneer a new phase of mass production and commercial deployment for advanced humanoid robots. I believe the strong capital backing from leading global and strategic investors provides the resources needed to accelerate the growth of our robotics business, while strengthening our ability to attract more world-class Physical AI talent. IRON brings together a highly human-like design, advanced AI intelligence, built to the highest standards of safety and quality. Our ambition is for IRON to become a trusted partner for people and a meaningful part of everyday work and life."
About XPENG
XPENG is a leading global Physical AI company, dedicated to bringing artificial intelligence into the physical world to reshape future mobility and smart living. Through in-house R&D, XPENG has developed a full-stack Physical AI architecture spanning Turing AI chips, world foundation models, and highly integrated software and hardware applications. This unified technology foundation of XPENG powers an expansive product portfolio of smart EVs, robotaxis, and humanoid robots, advancing the deployment of Physical AI at scale. Headquartered in Guangzhou, China, XPENG is dual-primary listed on the New York Stock Exchange and the Hong Kong Stock Exchange. With global capabilities across R&D, manufacturing, sales, and services, XPENG drives continuous technological innovation and fosters an open Physical AI ecosystem, making life smarter, safer, and better for users worldwide. For more information, please visit https://www.xpeng.com/.
Media Contacts
XPENG PR Department
Email: [email protected]
When deciding whether to buy, sell, or hold a stock, investors often rely on analyst recommendations. Media reports about rating changes by these brokerage-firm-employed (or sell-side) analysts often influence a stock's price, but are they really important?
Let's take a look at what these Wall Street heavyweights have to say about XPeng Inc. Sponsored ADR (XPEV - Free Report) before we discuss the reliability of brokerage recommendations and how to use them to your advantage.
XPeng currently has an average brokerage recommendation (ABR) of 1.82, on a scale of 1 to 5 (Strong Buy to Strong Sell), calculated based on the actual recommendations (Buy, Hold, Sell, etc.) made by 19 brokerage firms. An ABR of 1.82 approximates between Strong Buy and Buy.
Of the 19 recommendations that derive the current ABR, 12 are Strong Buy and two are Buy. Strong Buy and Buy respectively account for 63.2% and 10.5% of all recommendations.
Brokerage Recommendation Trends for XPEV
Check price target & stock forecast for XPeng here>>>
The ABR suggests buying XPeng, but making an investment decision solely on the basis of this information might not be a good idea. According to several studies, brokerage recommendations have little to no success guiding investors to choose stocks with the most potential for price appreciation.
Are you wondering why? The vested interest of brokerage firms in a stock they cover often results in a strong positive bias of their analysts in rating it. Our research shows that for every "Strong Sell" recommendation, brokerage firms assign five "Strong Buy" recommendations.
In other words, their interests aren't always aligned with retail investors, rarely indicating where the price of a stock could actually be heading. Therefore, the best use of this information could be validating your own research or an indicator that has proven to be highly successful in predicting a stock's price movement.
With an impressive externally audited track record, our proprietary stock rating tool, the Zacks Rank, which classifies stocks into five groups, ranging from Zacks Rank #1 (Strong Buy) to Zacks Rank #5 (Strong Sell), is a reliable indicator of a stock's near-term price performance. So, validating the Zacks Rank with ABR could go a long way in making a profitable investment decision.
ABR Should Not Be Confused With Zacks RankIn spite of the fact that Zacks Rank and ABR both appear on a scale from 1 to 5, they are two completely different measures.
Broker recommendations are the sole basis for calculating the ABR, which is typically displayed in decimals (such as 1.28). The Zacks Rank, on the other hand, is a quantitative model designed to harness the power of earnings estimate revisions. It is displayed in whole numbers -- 1 to 5.
Analysts employed by brokerage firms have been and continue to be overly optimistic with their recommendations. Since the ratings issued by these analysts are more favorable than their research would support because of the vested interest of their employers, they mislead investors far more often than they guide.
On the other hand, earnings estimate revisions are at the core of the Zacks Rank. And empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
Furthermore, the different grades of the Zacks Rank are applied proportionately across all stocks for which brokerage analysts provide earnings estimates for the current year. In other words, at all times, this tool maintains a balance among the five ranks it assigns.
Another key difference between the ABR and Zacks Rank is freshness. The ABR is not necessarily up-to-date when you look at it. But, since brokerage analysts keep revising their earnings estimates to account for a company's changing business trends, and their actions get reflected in the Zacks Rank quickly enough, it is always timely in indicating future price movements.
Should You Invest in XPEV?In terms of earnings estimate revisions for XPeng, the Zacks Consensus Estimate for the current year has declined 10.7% over the past month to -$0.39.
Analysts' growing pessimism over the company's earnings prospects, as indicated by strong agreement among them in revising EPS estimates lower, could be a legitimate reason for the stock to plunge in the near term.
The size of the recent change in the consensus estimate, along with three other factors related to earnings estimates, has resulted in a Zacks Rank #4 (Sell) for XPeng. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Therefore, it could be wise to take the Buy-equivalent ABR for XPeng with a grain of salt.
shares rose 4.3% today, currently priced at $12.20. This performance comes in the context of a 52-week range of $11.49 to $28.24.
GF Value™ verdict: Current price of $12.20 vs estimated GF Value of $29.01, indicating a 57.9% upside.GF Score™ of 62/100, categorized as Above Average.Notable signal: No insider transactions in the past 12 months.Is XPEV Overvalued or Undervalued?Currently, XPeng Inc
XPEV +4.27% 62
is trading at $12.20, significantly below its estimated intrinsic value of $29.01 as per GF Value™, suggesting that it is 57.9% undervalued. GF Value™ represents GuruFocus' proprietary estimate of a stock's fair value, calculated from historical trading multiples, company growth patterns, and future performance forecasts. However, it is essential to approach this figure with caution, particularly since XPeng is an unprofitable and cash-flow-negative company.
The substantial margin between the current price and the GF Value™ may indicate an investment opportunity; however, the label of "Possible Value Trap" warns potential investors to tread carefully. The lack of profitability can make these valuations unreliable, as a loss-making entity might not be able to recover to what is considered its fair value.
How Does XPEV's Valuation Compare to Its History?MetricCurrentHistoricalP/E (TTM)208.5xN/ADue to the lack of profitability, XPeng Inc does not have a traditional P/E ratio available for comparison against its historical performance. The forward P/E of 208.5x indicates a very high valuation compared to standard industry metrics, suggesting the stock is trading well above typical earnings-based valuations. This divergence highlights the fact that earnings-based assessments may not apply effectively for XPeng, supporting the GF Value™ warning of a potential value trap.
What Does XPEV's GF Score™ Tell Us?GF Score™ is a composite measure designed to evaluate the overall quality and potential of a stock through multiple dimensions of financial performance. XPeng's GF Score™ stands at 62/100, indicating that it is regarded as Above Average. Its strongest sub-rank is in Growth (10/10), while its weakest areas are Valuation (2/10) and Momentum (2/10).
MetricRatingGF Score™62Financial Strength4/10Profitability3/10Growth10/10Valuation2/10Momentum2/10The overall scores suggest that while XPeng has strong growth potential, it lacks in both valuation and momentum, indicating that investors may face challenges in the short term. The financial strength and profitability metrics are also relatively low, which further highlights the caution needed when considering an investment in this company.
What Are Gurus and Insiders Doing with XPEV?Currently, four gurus hold positions in XPeng Inc, with three increasing their stakes and two reducing their holdings in recent quarters. This mixed activity presents a nuanced view of the stock's appeal among experienced investors. The fact that more gurus are adding positions could indicate a belief in the company's long-term growth potential, despite its current challenges.
Interestingly, there have been no insider transactions in the past 12 months. This lack of insider activity may suggest a level of uncertainty about the company's future, as insiders often take positions or divest based on their confidence in the company's prospects. Overall, while guru activity leans toward optimism, the absence of insider trading calls for careful consideration.
What This Means for InvestorsBased on the analysis, XPeng Inc
XPEV +4.27% 62
is currently undervalued according to GF Value™, but this comes with significant caveats. The company’s unprofitability and high forward P/E ratio indicate potential risks despite the 57.9% upside from the current price to the estimated fair value. As such, cautious investors should weigh the growth potential against the inherent risks associated with XPeng's financial health.
For further insights and detailed analysis, visit the XPeng Inc
XPEV +4.27% 62
stock page, or explore more on the GF Value™ page.
Frequently Asked QuestionsWhat is XPEV's GF Score™?
XPeng Inc has a GF Score™ of 62/100, indicating that it is considered Above Average in terms of overall quality and potential.
Is XPEV overvalued or undervalued?
According to GF Value™, XPeng Inc is currently undervalued with a significant upside potential of 57.9% from its current price to its estimated fair value.
What is XPEV's P/E ratio?
XPeng's current forward P/E is 208.5x, which is significantly higher than typical valuation metrics, underscoring the challenges of using earnings-based assessments for this loss-making company.
This stock alert was generated using automated technology and GuruFocus financial data to provide readers with timely and accurate market reporting. This content was reviewed by GuruFocus editorial team prior to publication. Please send any questions or comments about this story to [email protected].
XPENG (NYSE:XPEV – Get Free Report) is expected to post its Q2 2026 results before the market opens on Monday, August 24th. Analysts expect XPENG to announce earnings of ($0.0596) per share and revenue of $3.0172 billion for the quarter. Interested persons may visit the the company’s upcoming Q2 2026 earning overview page for the latest details on the call scheduled for Monday, August 24, 2026 at 8:00 AM ET.
XPENG (NYSE:XPEV – Get Free Report) last posted its earnings results on Thursday, May 28th. The company reported ($0.27) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.16). XPENG had a negative return on equity of 7.72% and a negative net margin of 3.09%.The firm had revenue of $1.89 billion for the quarter, compared to analysts’ expectations of $1.87 billion. On average, analysts expect XPENG to post $-0 EPS for the current fiscal year and $0 EPS for the next fiscal year.
XPENG Stock Up 0.1% Shares of NYSE:XPEV opened at $11.71 on Monday. XPENG has a 1 year low of $11.49 and a 1 year high of $28.24. The company has a market cap of $11.18 billion, a PE ratio of -34.43 and a beta of 1.13. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.14 and a quick ratio of 0.89. The stock’s 50-day moving average is $13.08 and its 200 day moving average is $15.81.
Wall Street Analyst Weigh In Several equities research analysts have weighed in on the company. Wall Street Zen cut XPENG from a “hold” rating to a “sell” rating in a report on Sunday, May 24th. Barclays reduced their target price on XPENG from $16.00 to $15.00 and set an “underweight” rating on the stock in a research note on Thursday, July 16th. BNP Paribas Exane downgraded XPENG from a “neutral” rating to an “underperform” rating in a report on Wednesday, April 22nd. Bank of America reaffirmed a “buy” rating on shares of XPENG in a research note on Thursday, May 28th. Finally, Weiss Ratings cut shares of XPENG from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday. Two research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and four have given a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $25.40.
Check Out Our Latest Stock Report on XPENG
Institutional Trading of XPENG Several institutional investors and hedge funds have recently bought and sold shares of the stock. Royal Bank of Canada grew its holdings in shares of XPENG by 33.6% during the 1st quarter. Royal Bank of Canada now owns 23,657 shares of the company’s stock worth $490,000 after acquiring an additional 5,945 shares during the period. Ameriprise Financial Inc. raised its position in shares of XPENG by 29.4% in the 2nd quarter. Ameriprise Financial Inc. now owns 127,533 shares of the company’s stock worth $2,280,000 after acquiring an additional 28,983 shares in the last quarter. Finally, Parallel Advisors LLC raised its position in shares of XPENG by 11.0% in the 3rd quarter. Parallel Advisors LLC now owns 9,709 shares of the company’s stock worth $227,000 after acquiring an additional 964 shares in the last quarter. 21.09% of the stock is currently owned by hedge funds and other institutional investors.
XPENG Company Profile (Get Free Report)
XPENG Inc (NYSE: XPEV) is a China-based developer and manufacturer of smart electric vehicles. The company designs, engineers and sells battery-electric sedans and sport-utility vehicles along with related software and services. Founded in 2014, XPENG positions itself as a technology-driven automaker with a focus on vehicle connectivity, software-defined features and advanced driver assistance systems.
Product offerings center on passenger EVs spanning compact crossovers and midsize sedans, supported by in-house software platforms and over-the-air update capabilities.
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- Earnings Call Scheduled for 8:00 a.m. ET on August 24, 2026 -
, /PRNewswire/ -- XPeng Inc. ("XPENG" or the "Company,"NYSE: XPEV and HKEX: 9868), a leading global Physical AI company, today announced that it will report its second quarter 2026 unaudited financial results on Monday, August 24, 2026, before the open of U.S. markets.
The Company's management will host an earnings conference call at 8:00 AM U.S. Eastern Time on August 24, 2026 (8:00 PM Beijing/Hong Kong Time on August 24, 2026).
For participants who wish to join the call by phone, please access the link provided below to complete the pre-registration and dial in 5 minutes prior to the scheduled call start time. Upon registration, each participant will receive dial-in details to join the conference call.
Additionally, a live and archived webcast of the conference call will be available on the Company's investor relations website at http://ir.xiaopeng.com.
A replay of the conference call will be accessible approximately an hour after the conclusion of the call until September 1, 2026, by dialing the following telephone numbers:
United States:
+1-855-883-1031
International:
+61-7-3107-6325
Hong Kong, China:
800-930-639
Chinese Mainland:
400-120-9216
Replay PIN:
10056093
About XPENG
XPENG is a leading global Physical AI company, dedicated to bringing artificial intelligence into the physical world to reshape future mobility and smart living. Through in-house R&D, XPENG has developed a full-stack Physical AI architecture spanning Turing AI chips, world foundation models, and highly integrated software and hardware applications. This unified technology foundation of XPENG powers an expansive product portfolio of smart EVs, robotaxis, and humanoid robots, advancing the deployment of Physical AI at scale. Headquartered in Guangzhou, China, XPENG is dual-primary listed on the New York Stock Exchange and the Hong Kong Stock Exchange. With global capabilities across R&D, manufacturing, sales, and services, XPENG drives continuous technological innovation and fosters an open Physical AI ecosystem, making life smarter, safer, and better for users worldwide. For more information, please visit https://www.xpeng.com/.
Contacts:
For Investor Enquiries:
IR Department
XPeng Inc.
E-mail: [email protected]
Jenny Cai
Piacente Financial Communications
Tel: +1-212-481-2050 or +86-10-6508-0677
E-mail: [email protected]
For Media Enquiries:
PR Department
XPeng Inc.
E-mail: [email protected]
, /PRNewswire/ -- XPeng Inc. ("XPENG" or the "Company,"NYSE: XPEV and HKEX: 9868), a leading global Physical AI company, today announced its vehicle delivery results for July 2026.
XPENG delivered 38,027 vehicles in July, marking an increase of 4% year over year. As of July 31, 2026, the Company's cumulative deliveries reached a new milestone of more than 1.2 million units worldwide.
On July 16, XPENG held its Brand Day and the L03 Global Launch Event in Munich, Germany. The new global model will launch in 65 countries and regions this year, expanding XPENG's international product lineup.
On the global expansion front, earlier this month XPENG officially unveiled its long-term strategy for the Australian market, including plans to launch five all-new models in the second half of 2026 and continue expanding its local sales and service network. XPENG also announced that its NGP (Next Generation Pilot) system, powered by the in-house developed VLA 2.0 model, will begin its global rollout in 2027, bringing its intelligent driving technology to markets around the world.
XPENG's electric vehicles delivered from January to July 2026 are expected to reduce life-cycle greenhouse gas emissions by more than 3.23 million tons compared to internal combustion engine vehicles, equivalent to the carbon absorbed by 53.75 million young trees over 10 years.
About XPENG
XPENG is a leading global Physical AI company, dedicated to bringing artificial intelligence into the physical world to reshape future mobility and smart living. Through in-house R&D, XPENG has developed a full-stack Physical AI architecture spanning Turing AI chips, world foundation models, and highly integrated software and hardware applications. This unified technology foundation of XPENG powers an expansive product portfolio of smart EVs, robotaxis, and humanoid robots, advancing the deployment of Physical AI at scale. Headquartered in Guangzhou, China, XPENG is dual-primary listed on the New York Stock Exchange and the Hong Kong Stock Exchange. With global capabilities across R&D, manufacturing, sales, and services, XPENG drives continuous technological innovation and fosters an open Physical AI ecosystem, making life smarter, safer, and better for users worldwide. For more information, please visit https://www.xpeng.com/.
Safe Harbor Statement
This announcement contains forward-looking statements. These statements are made under the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements. Statements that are not historical facts, including statements about XPENG's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: XPENG's goal and strategies; XPENG's expansion plans; XPENG's future business development, financial condition and results of operations; the trends in, and size of, China's EV market; XPENG's expectations regarding demand for, and market acceptance of, its products and services; XPENG's expectations regarding its relationships with customers, suppliers, third-party service providers, strategic partners and other stakeholders; general economic and business conditions; and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in XPENG's filings with the United States Securities and Exchange Commission. All information provided in this announcement is as of the date of this announcement, and XPENG does not undertake any obligation to update any forward-looking statement, except as required under applicable law.
