XPeng Motors' Q1 2024 Financial Report Revenue, Deliveries, Losses and More

TapTechNews May 21 news, XPeng Motors released its Q1 2024 financial report today:

Revenue was $9.43 billion (65.5 billion yuan), an increase of 62.3% year-on-year;

A total of 21,821 vehicles were delivered, an increase of 19.7% year-on-year;

Net loss was $1.96 billion (13.7 billion yuan), compared with a net loss of $3.38 billion (23.4 billion yuan) in the same period last year and a net loss of $1.93 billion (13.5 billion yuan) in the previous quarter;

Gross margin was 12.9%.

XPeng Motors has 574 stores and 1171 self-operated charging stations, including 359 S4 super-fast charging stations.

XPeng Motors expects delivery volume in the second quarter to be 29,000 to 32,000 vehicles, and the market expects 38,147 vehicles. XPeng Motors expects revenue in the second quarter to be $1.08 billion to $1.20 billion (75 billion to 83 billion yuan).

As of TapTechNews' posting, XPeng Motors' US stocks rose more than 8% before the market.