Chinese electric carmaker Xpeng, also known as Xiaopeng Motors, published on Tuesday that its revenue jumped 62.3% year-over-year, reaching RMB 6.55 billion ($910 million), while vehicle sales revenue was RMB5.55 billion ($770 million), representing an increase of 57.8%.
In the same quarter, vehicle deliveries amounted to 21,821, an increase of 19.7% over the previous year, while the net loss was RMB 1.37 billion ($190 million). The company reported a diluted net loss per American depositary share (ADS) of RMB 1.45 ($0.20).
"XPENG took the lead in the mass production and application of AI-based large models within the China automobile industry. We are confident that we can launch competitive models globally in a more efficient manner and thus spearhead the widespread adoption of AI-powered smart cars," said Mr. He Xiaopeng, Chairman and CEO of XPeng. "Our industry-leading technologies are expected to gain greater market influence and yield better financial returns."
