Xpeng forecasts Q3 revenue to nearly double as EV deliveries surge

Chinese automaker Xpeng expects its third-quarter revenue to nearly double year-over-year, projecting between RMB 19.6 billion ($2.73 billion) and RMB 21 billion ($2.93 billion).

The forecast marks a sharp rise of 94% to 108% compared with the same period last year, driven by robust EV deliveries and ongoing consumer incentives in China’s slowing economy. Analysts had anticipated revenue of RMB 20.81 billion ($3.1 billion).

Deliveries climb as product mix expands

Xpeng projects third-quarter deliveries of 113,000 to 118,000 units, representing a surge of up to 154% compared with last year, according to Reuters. Among Xpeng’s offerings are its G9 premium electric SUV, the G6 ultra smart electric SUV coupe, the seven-seater X9, and the P7 electric sedan. The Xpeng P7+ is notable for setting a record of over 30,000 orders on the first day of its launch. The electric sedan recently set an endurance test record.

The company has seen momentum from its diversified EV lineup, ranging from sedans to crossovers, as well as supportive government policies aimed at stimulating consumer spending. In the second quarter, Xpeng delivered a solid performance, with revenue of RMB 18.27 billion ($2.5 billion), which was in line with market expectations.

Technology and competition shape future growth

Beyond sales, Xpeng is heavily investing in technology to strengthen its position in China’s competitive electric vehicle market. The Chinese automaker is advancing autonomous driving capabilities with its in-house Turing chip.

Analysts say the Turing chip could offer efficiency gains over generic industry processors once mass-produced. “XPeng’s in-house Turing chip, once mass-produced, could be a pivotal step in the company’s intelligent driving ambitions. The chip is designed specifically for XPeng’s own requirements, offering targeted optimization over generic industry solutions,” noted Third Bridge analyst Rosalie Chan.

Still, the broader industry remains pressured by intensifying price wars and the race for leadership in self-driving software among Chinese and international automakers.

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