Xpeng Targets 380,000 Vehicle Sales and Break-Even by Year-End

Xpeng Motors plans to double its vehicle sales to 380,000 units in 2025 and achieve break-even in the final quarter, Chief Executive He Xiaopeng said on May 21.

Credit: XPENG

The Chinese electric vehicle maker reported a 141.5% year-on-year revenue increase for the January–March quarter, reaching RMB 15.8 billion (USD 2.2 billion), surpassing LSEG estimates of RMB 15.1 billion.

Net losses narrowed to RMB 660 million, down from RMB 1.4 billion in the first quarter of 2024. Gross margins rose to 15.6%, approaching Tesla’s 16.3%.

Xpeng expects to deliver at least 102,000 vehicles in the second quarter. The positive outlook pushed company shares up 13%.

The company also revealed the first images of its new P7 sports sedan on May 15.

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• Xpeng aims to sell 380,000 vehicles in 2025

• Company expects to break even in Q4

• Q1 revenue rose 141.5% to USD 2.2 billion

  
  

Source: TECHNODE