Guangzhou Xiaopeng Motors Technology Co. Ltd. (Xpeng) reported on Tuesday that its revenue for the fourth quarter of fiscal 2024 reached 16.1 billion yuan ($2.2 billion), soaring by 23.4% compared to the same period in the previous year and coming in slightly above expectations.
The Chinese automaker's net loss in the reported quarter stood at 1.3 billion yuan ($180 million), declining by 1.48% year-on-year, while its diluted net loss per American depositary share (ADS) was 1.4 yuan ($0.19). The company's total vehicle deliveries reached 91,507, climbing by 52.1% on an annual basis.
"In the fourth quarter of 2024, we achieved a series of notable results that reflect holistic upgrade in our capabilities to grow scale. We are well-positioned to significantly expand our market share in the Smart EV industry both in China and globally," CEO Xiaopeng He said.
Xpeng's shares jumped by 3.14% at 6:12 am ET on the New York Stock Exchange during premarket trading, selling for $25.32 apiece.
