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XPeng

PublicNYSE: XPEVFounded 2014🇨🇳Guangzhou, ChinaCEO He Xiaopeng

XPeng is a Guangzhou-based smart-EV maker (founded 2014; NYSE: XPEV / HKEX: 9868) that delivered a record 429,445 vehicles in 2025 (+125.9% YoY) and delivered 41,256 vehicles in September 2026 (+5% from August), with L03 above 10,000, for 118,390 in the third quarter inside the 115,000-121,000 guide issued 24 August.

01

Overview

Q1 2026 posted a RMB1.78B net loss on a seasonal delivery dip, and Q2 2026 rebounded to a record 103,295 deliveries with gross margin at 20.7%, though net loss nearly tripled year-over-year to RMB1.34B on heavy AI, robotics and flying-car reinvestment. Overseas business contributed more than 25% of H1 2026 revenue. The Mona series and the six-seat GX flagship SUV (7,224 in September, its third straight month above 7,000) are core volume drivers, alongside the P7, G6, G7, G9, X9, Mona L03, and the G9L five-seat flagship launched in China on 17 September. XPeng designs its own Turing AI chips and VLA 2.0 stack, and Volkswagen is a partner on E/E architecture and VLA licensing. Robotaxi employee testing began in Guangzhou in July 2026, with an August permit for remote testing without an onboard safety operator on designated roads. Flying-car unit Aridge said at IFA Berlin on 3 September that Land Aircraft Carrier mass production starts in H2 2026 with customer deliveries expected in 2027. IRON walked off an automated Guangzhou line on 8 September; mass production is still targeted by late 2026. Cash was RMB40.48B as of 30 June 2026. The official Chinese September post says XPeng now operates in 79 countries and regions with more than 500 international stores. On 12 October 2026 XPeng opened European G9L orders, with its own list prices from 74,600 euros in Germany, 74,990 euros in Belgium and the Netherlands, and 75,600 euros in Austria, and first customer deliveries in December 2026. On 8 October it opened YOYO robotaxi registration by invitation code, without a disclosed public ride count. The Mona L05 China debut and pre-sales are set for 15 October 2026 at 19:00 Beijing time. As of 14 October the pre-sale had not opened and no official price or formal launch date had been published.

xpeng-newsroom.pr.coUpdated Oct 14, 2026

02

What's next14

  1. 2026

    Reach sustained full-year profitability in 2026

    After its first quarterly net profit in Q4 2025 and a seasonal Q1 2026 loss, XPeng is targeting sustained profitability across 2026. Q2 2026 deliveries rebounded 64.8% sequentially to a record 103,295 units within its guided range and gross margin held at 20.7%, but net loss nearly tripled year-over-year to RMB1.34B on continued AI, robotics and flying-car investment. XPeng guided Q3 2026 deliveries of 115,000-121,000 units and revenue of RMB21.7-23.4B; it has not issued formal full-year profitability guidance. July plus August volume of 77,134 leaves a still-steep September needed to hit the Q3 delivery range.

  2. 2026-2027

    Launch Robotaxi models and global VLA 2.0

    XPeng began employee testing of its Robotaxi platform in Guangzhou on July 10, 2026 (CEO He Xiaopeng completed the first end-to-end ride) and plans to launch three full-stack Robotaxi models with trial passenger operations in H2 2026, targeting fully autonomous operation without an onboard safety officer by 2027. In its September 1, 2026 August-delivery release, XPeng said it had secured a permit to test its second-generation VLA Robotaxi on designated Guangzhou roads without an onboard safety operator, and that the vehicle had completed more than 2,000 internal test rides using a newly built cloud-based remote-intervention platform. On its Q2 2026 results page the company said a first major VLA 2.0 upgrade in China was due from the end of August, folding selected L4 Robotaxi capabilities into passenger cars, with a goal of obtaining European regulatory approval in the first half of 2027 and beginning overseas user deliveries. Volkswagen remains the launch partner for a global VLA 2.0 version from 2027.

  3. 2026-2027

    Take X-Energy megawatt charging from Hong Kong to Europe

    XPeng opened its first X-Energy megawatt charging station on September 15, 2026 in Hong Kong with operator Halo, open to all brands, at 1 megawatt peak and 1,000 amps with 400 kWh of on-site storage that holds the grid connection to 240 kW. He Xiaopeng previously said X-Energy hardware would arrive in Europe next, alongside a broader plan for more than 1,000 self-operated supercharging stations across 13 European countries. XPeng has not given a European megawatt-station count or date, and no XPeng model can yet accept megawatt charging.

  4. H2 2026

    Start mass production of the AeroHT flying car

    At IFA Berlin on September 3, 2026, Aridge confirmed the Land Aircraft Carrier is ready for series production, with mass production starting in the second half of 2026 at about 5,000 units/year initially (scaling toward 10,000) against roughly 7,000 pre-orders, mainly from China and the Middle East. CAAC has certified Aridge as an aircraft manufacturer. The unit is still preparing a Hong Kong IPO after raising nearly $1B to date.

  5. Late 2026

    Scale IRON humanoid robot production

    XPeng commissioned its automated IRON production line in Guangzhou on September 8, 2026, with a unit walking off the line under its own power and more than 80 percent of core processes automated. The company still aims to reach 1,000+ robots per month by the end of 2026 and begin the first commercial deployment (as showroom assistants) in Q1 2027, part of a long-term goal of 1M robots by 2030. In August 2026 the robotics business raised over $900M in its first outside funding round (post-money valuation above $6.3B, led by IDG Capital) to accelerate the buildout.

Target date passed, awaiting update · 2

  1. Oct 12, 2026

    Hold the G9L global launch at the Paris Motor Show

    XPeng said at the September 17, 2026 China launch that the G9L global launch event will take place on October 12 at the Paris Motor Show, with the company's booth in Hall 6, and that France is only the first stop of a rollout into 64 countries and regions. The G9L becomes the fourth XPeng model built at Magna's Graz plant in Austria after the G6, G9 and P7+, giving the company four locally assembled European models within a single year. European pricing has not been announced.

  2. Oct 15, 2026

    Open Mona L05 China pre-sales

    Target15 October 2026, 19:00 Beijing time

03

Latest news20

  1. XPeng launches the G9L in Europe from 74,990 euros

    XPeng launched the G9L at the Paris Motor Show on Oct. 12, with company-stated French pricing from 74,990 euros, six- and seven-seat layouts, and EV range up to 591 km WLTP. It said Magna Graz trial production is complete and that the G9L is set to be its fourth model built in Europe, and it opened public NGP test rides there on VLA 2.0. CnEVPost reported further starting prices of 74,600 euros in Germany, 74,990 in Belgium, 75,600 in Austria and 75,990 in the Netherlands. Neither source gave a European customer-delivery date.

    en.prnasia.com cnevpost.com

  2. XPeng names robotaxi YOYO and opens invite trials

    XPeng's official WeChat account said October 8 that its Robotaxi business is now branded 小鹏悠游 / XPENG YOYO, with a dedicated website page and a YOYO autonomous ride-hailing mini-program. Public trials are planned through invitation codes, moving the program from employee testing toward open-user operations. The company has previously said mass-produced GX-based robotaxis completed more than 2,000 internal Guangzhou rides and still targets passenger service without a safety driver in 2027.

    www.yicai.com www.163.com autonews.gasgoo.com www.xiaopeng.com

  3. XPeng delivers 118,390 vehicles in Q3 as L03 tops 10,000

    XPeng said it delivered 41,256 vehicles in September 2026, up 5% from August, with monthly L03 deliveries above 10,000, for a third-quarter total of 118,390, up 15% from the prior quarter and inside the 115,000-121,000 range it guided on August 24. The company also said the G9L launched in China on September 17, XOS 6.3.0 with VLA 2.0 began rolling out in China on September 22, and its self-operated China charging network exceeded 4,000 stations in more than 430 cities as of September 30. The Paris global G9L launch remains scheduled for October.

    www.prnewswire.com www1.hkexnews.hk

  4. XPeng opens Philippines market with X9 and L03

    XPeng staged its Philippine brand launch on Sept. 25 at SM Mall of Asia Arena, pricing six X9 and L03 variants from 1.548 million pesos for the L03 EV Standard Range to 4.058 million pesos for the X9 Long Range with the Second Row Premium Seat Package. Country director Katoon Su said the local unit is XPeng's first Southeast Asia subsidiary; the official Philippines site lists Greenhills, Makati, North EDSA and Cebu dealers, and local reports say deliveries are due in the fourth quarter. Top Gear Philippines also recorded a plan for two more models within six months and eight showrooms in Metro Manila, Cebu and Davao by year-end.

    newsbytes.ph www.topgear.com.ph cleantechnica.com www.xpeng.com

  5. Volkswagen opens presales of second XPeng-joint ID. UNYX 09

    Volkswagen Anhui opened presales of the ID. UNYX 09 on September 24, the second model jointly developed with XPeng, at 199,900 to 249,900 yuan, with an official on-sale target at the end of October. Reuters, CnEVPost and Phoenix Auto said the Hefei-built sedan uses CATL 91.963 kWh LFP cells, XPeng's VLA assisted-driving stack and a Turing chip at 750 TOPS, with CLTC range of 755 km for the rear-drive version and 705 km for all-wheel drive. Phoenix also said the car started mass production the same day. Volkswagen is untracked.

    www.reuters.com cnevpost.com auto.ifeng.com

04

Products10

05

Key metrics

Employees
19,884

(Dec 31, 2025); company described headcount as more than 27,000 as of May 2026

Est. annual revenue
RMB19.74B

(~$2.91B) in Q2 2026, up 8.0% YoY and 51.5% sequentially from Q1's RMB13.03B (~$1.79B), within the prior RMB19.60-20.80B guide; Q3 2026 guided at RMB21.7-23.4B. Vehicle sales were RMB17.05B in Q2; services and other rose 93.9% YoY to RMB2.70B, helped by Volkswagen R&D-service revenue

Cumulative Deliveries
1,262,935 as of August 31, 2026

(1,223,828 at July 31 plus 39,107 August deliveries); 243,111 year-to-date

2025 Deliveries
429,445 (+125.9% YoY)
Monthly Delivery Record (2026)
40,126

June 2026; August 2026 was 39,107, the year's second-highest month

Q2 2026 Gross Margin
20.7%

(up from 20.6% in Q1 and 17.3% a year earlier); vehicle margin 12.1% (flat QoQ); net loss widened to RMB1.34B from RMB480M a year earlier on continued AI, robotics and flying-car investment

Cash Reserves
RMB40.48B

(~$5.97B) as of June 30, 2026, down from RMB42.09B at March 31, 2026

2026 Delivery Guidance
550,000-600,000 vehicles

(+28.1% to +39.7% YoY) from the January internal target; Q3 guided at 115,000-121,000, with management targeting 60,000+ monthly in Q4 after the G9L and Mona L05 launches. July plus August deliveries were 77,134, so September needs about 37,900-43,900 units to hit the Q3 range

H1 2026 Overseas Revenue Share
More than 25% of total H1 revenue

Q2 overseas deliveries topped 20,000 (+81% YoY) with average selling price above €40,000

Volkswagen ID. UNYX 09

Second jointly developed Volkswagen-XPeng model. Volkswagen Anhui opened China presales on 24 Sep 2026 at 199,900-249,900 yuan, with official sales targeted for end-October. Hefei-built B-segment fastback sedan, 5,081 mm long, CATL 91.963 kWh LFP pack, RWD 230 kW / 755 km CLTC or AWD 370 kW / 705 km. Uses XPeng Turing chip at 750 TOPS (below ID. UNYX 08's dual-Turing 1,500 TOPS / VLA 2.0). Brought to production in about 24 months. Not an XPeng-branded product.

Market Cap
$10.12/share NYSE close on 25 Sep 2026

market cap about $9.68B on 956.97M shares. Employees still listed as 19,884 (31 Dec 2025) on stockanalysis; company had described headcount as more than 27,000 as of May 2026.

Q3 2026 remaining September need
Still unpublished as of 29 Sep 2026

July 38,027 plus August 39,107 = 77,134, so September needs about 37,866-43,866 to hit the 115,000-121,000 Q3 guide. CnEVPost's monthly table still leaves September 2026 blank; stockanalysis latest delivery headline remains the 1 Sep August PR.

Market Cap
$9.95/share NYSE close on 28 Sep 2026

market cap about $9.52B on 956.97M shares, versus $10.12 / about $9.68B on 25 Sep. Employees still listed as 19,884 (31 Dec 2025).

Q3 2026 Deliveries
118,390 vehicles

(+15% QoQ), inside 115,000-121,000 guidance; September 41,256 (+5% MoM) with L03 above 10,000 units

GX September 2026 deliveries
7,224 units in September 2026

third straight month above 7,000

International footprint
79 countries and regions

more than 500 international stores (official Chinese September 2026 post)

Self-operated charging network

4,000-plus stations as of 30 Sep 2026, including 3,510-plus ultra-fast, 22,200-plus piles, 430-plus cities

Market Cap
$9.25/share NYSE close on 2 Oct 2026

market cap about $8.85B on 956.97M shares

January-September 2026 deliveries
284,367

(243,111 through August plus 41,256 September); Q3 118,390 inside 115,000-121,000 guide

European G9L list prices
Germany from 74,600 euros

(7-seat RWD), 79,600 (7-seat AWD) and 85,600 (6-seat AWD). Austria 7-seat RWD from 75,600 euros. Belgium and the Netherlands from 74,990 euros.

06

Operations & revenue

Operating status

Operational; G9L orders open; L05 pre-sales open

On 12 Oct 2026 XPeng's English release said it launched the G9L at the Paris Motor Show with French pricing from 74,990 euros, WLTP range up to 591 km, and charging from 10 percent to 80 percent in as little as 11.7 minutes. After a production trial at Magna in Graz, the G9L is set to be the fourth XPeng model manufactured in Europe. That is a list price, not a count of completed orders. On 15 Oct 2026 XPeng opened Mona L05 China pre-sales from 169,800 yuan for the pure-electric 535 Max and the range-extender 1310 Max, with other listed trims at 179,800, 181,800 and 191,800 yuan, and said the formal launch is 29 Oct. Pre-sale prices are not deliveries.

Revenue streams

  • Vehicle Sales

    The full EV lineup (Mona, P7, G6, G7, G9, X9, GX, and the incoming G9L) - RMB17.05B in Q2 2026 (+1.0% YoY, +55.0% QoQ), after RMB11.0B and roughly 85% of revenue in Q1 2026.

  • Services & Other

    After-sales, parts, financing and R&D-service revenue. RMB2.70B in Q2 2026 (+93.9% YoY) with a 75.1% segment margin, driven by technical R&D services for Volkswagen plus parts and accessories.

  • Technology & Software Licensing

    R&D-service revenue from the Volkswagen E/E architecture (CEA) collaboration and VLA autonomous-software licensing, with VW as launch customer. Reuters reported on September 17, 2026, citing two people familiar with the matter, that XPeng plans to widen this business well beyond Volkswagen, offering its E/E architecture, smart cockpit systems, Turing AI chips and advanced driver-assistance software to other foreign automakers as well as foreign software developers and automotive suppliers, and extending licensing and customization into robotaxi, humanoid-robot and other physical-AI applications. A strategic commercialization team was set up about six months earlier to pursue it; no customer has been named and no terms disclosed.

07

Track record

How past announced dates turned out.

1/2announced dates hit on time

  • 1 Hit
  • 1 Slipped
  • 0 Missed
  1. Hit

    Launch the G9L in China

    Target September 17, 2026 · Resolved Sep 17, 2026

    XPeng launched the G9L on schedule at a Beijing event on September 17, 2026, pricing six variants at 241,800 to 319,800 yuan with a limited-time 10,000 yuan cut that takes the entry price to 231,800 yuan, below the August pre-sale figure of 259,800 yuan. He Xiaopeng said deliveries begin the same month.

  2. Slipped

    Land Aircraft Carrier customer deliveries

    Target Late 2026 · Resolved Sep 3, 2026

    At IFA Berlin on September 3, 2026, Aridge said mass production still starts in H2 2026, but CAAC type approval and end-customer deliveries are now expected in 2027 rather than late 2026. The factory plan (about 5,000 units/year initially, scaling toward 10,000) and roughly 7,000 pre-orders were reaffirmed.

08

Timeline34

  1. 2026

    1. Opens Mona L05 China pre-sales from 169,800 yuan

      On 15 October 2026 XPeng opened China pre-sales for the Mona L05, a five-seat SUV in pure-electric and range-extender forms. Official pre-sale prices are 169,800 yuan for the 535 Max and the 1310 Max, 179,800 yuan for the 635 Max, 181,800 yuan for the 1310 Ultra SE, and 191,800 yuan for the 635 Ultra SE. The company said the formal launch is 29 October 2026. These are pre-sale prices, not deliveries.

    2. Schedules Mona L05 China pre-sales

      CnEVPost reported on 13 October 2026 that XPeng's Weibo set the Mona L05 China debut and pre-sales for 15 October 2026 at 7 p.m. Beijing time. Pricing and a formal launch date were still unpublished as of 14 October. The Q4 2026 launch step remains open.

    3. Opens European G9L order books

      At the Paris Motor Show on 12 October 2026 XPeng opened G9L order books. The German newsroom lists Germany from 74,600 euros and says the first customer cars are delivered in December 2026, with European production at Magna in Graz. The Austria store starts at 75,600 euros, and the Belgium and Netherlands stores at 74,990 euros. The Belgium model page expects showroom cars from November. A separate volume-production start date was not named. These are announced list prices, not recorded first customer orders.

    4. Launches G9L in Europe from 74,990 euros

      At the Paris Motor Show on Oct. 12, 2026 XPeng launched the G9L for Europe. The company said French pricing starts at 74,990 euros, with six- and seven-seat versions, EV WLTP range up to 591 km, and a 10% to 80% charge in as little as 11.7 minutes on 800V. It said Magna Graz trial production is done and that this is its fourth European-built model. CnEVPost reported starting prices of 74,600 euros in Germany, 74,990 in Belgium, 75,600 in Austria and 75,990 in the Netherlands. No European delivery date was given.

    5. Names Robotaxi service YOYO and launches invite mini-program

      XPeng's official WeChat account said 8 Oct 2026 that Robotaxi is branded 小鹏悠游 / XPENG YOYO. A dedicated Robotaxi webpage and the YOYO autonomous ride-hailing mini-program launched the same day, with public trials planned through invitation codes. Fetched xiaopeng.com/robotaxi.html lists 2026 Guangzhou L4 demonstration and employee testing, then a 2027 next-generation Robotaxi. Native WeChat/Weibo posts were not opened; invite-code volume was not disclosed.

    6. Q3 deliveries 118,390, inside 115,000-121,000 guide

      XPeng reported 41,256 September deliveries, up 5% from August, with L03 monthly volume above 10,000, for 118,390 in the third quarter, up 15% from Q2 and inside the 115,000-121,000 guide issued August 24. The company also said G9L launched in China on September 17 and XOS 6.3.0 with VLA 2.0 began rolling out in China on September 22.

    7. Philippines launch and second Volkswagen joint model

      XPeng Philippines opened on September 25, 2026 at SM Mall of Asia Arena with the X9 from 3.858 million pesos and the L03 from 1.548 million pesos. Country director Katoon Su said deliveries begin in the fourth quarter of 2026. On September 24 Volkswagen Anhui opened ID. UNYX 09 presales from 199,900 yuan, the second XPeng-joint model, with CATL LFP packs, XPeng VLA assistance and Turing compute, built in Hefei, on sale end-October.

    8. Launches in the Philippines with X9 and L03

      XPeng held its Philippine brand launch on Sept. 25, 2026 at SM Mall of Asia Arena, offering six X9 and L03 variants from 1.548 million pesos to 4.058 million pesos. Country director Katoon Su said XPeng Philippines is the company's first Southeast Asia subsidiary. The official local site lists Greenhills, Makati, North EDSA and Cebu dealers; local reports say customer deliveries start in the fourth quarter, with two more models in six months and eight showrooms in Metro Manila, Cebu and Davao targeted by year-end.

09

Funding

$4.4Bdisclosed across 4 rounds with a stated amount

Cumulative disclosed raise · dated rounds

$2B$4B$6B202120222023202420252026$4.4B raised
  1. IPO (NYSE)

    August 2020

    ~$1.5B

    Public offering (NYSE: XPEV)

  2. IPO (Hong Kong)

    July 2021

    ~$1.8B

    Dual-primary listing (SEHK: 9868)

  3. Strategic Investment & Partnership

    2023-2024

    ~4.99% stake + platform deals

    Volkswagen Group

  4. Aridge (flying-car unit) pre-IPO round

    March 2026

    ~$200M (total raised ~$1B)

    GL Ventures, HongShan Capital, Gaorong Ventures, Fortune Capital

  5. Robotics division first external round

    August 2026

    $900M+ (post-money valuation above $6.3B)

    IDG Capital (lead), Gaorong Ventures, Tencent, Alibaba

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