Xpeng Motors: Financial Report Q2’21
On August 26, Xpeng Motors released its Q2’21 financial report. The financial report shows that Xpeng Motors’ revenue was $580.4 million USD, an increase of 536.7% year-on-year; the net loss was $183.7 million USD.
The non-GAAP net loss was $168.2 million USD, with a loss of $0.21 USD per ADS.
The gross profit margin in Q2’21 was 11.9%. Xpeng Automobile delivered a total of 17,398 vehicles in the second quarter, an increase of 439% year-on-year; the automobile sales revenue in Q2’21 was $552.6 million USD, an increase of 562.4% year-on-year.
As of June 30, 2021, Xpeng Motors’ physical sales and service network include 200 stores and 64 service centers, covering 74 cities; Xpeng Motors’ brand supercharging stations have expanded to 231 units, covering 65 cities.
The founder Xiaopeng He said on the second-quarter earnings online conference that in terms of new car delivery, the urban SUV Xpeng G3i will begin delivery in September; the car Xpeng P5 will start pre-sales in September and start delivery in the fourth quarter of this year.
In terms of manufacturing, Xiaopeng He said that the three cars, G3i, P5, and P7, are produced at the Zhaoqing plant in Guangdong. Since August, the two-shift production method has been implemented and will reach the peak production capacity of 15,000 new cars delivered per month in the fourth quarter of this year. Supporting the steadily increasing delivery rate of new cars is the full production power of Xpeng’s existing plants. The new factories that are being consistently built at various locations indicate Xpeng’s ambitions for the future.
