XPeng delivered over 60,000 of its flagship P7 electrical sedans in 2021.
U.S. listed shares of XPeng jumped in premarket buying and selling Monday after the Chinese language electric-vehicle maker reported a fourth-quarter loss that was narrower than Wall Road had anticipated.
XPeng stated that it misplaced $202 million within the quarter, or $0.22 on an adjusted per-share foundation, on income of $1.34 billion. That was considerably higher than anticipated: Seven Wall Road analysts polled by FactSet had anticipated an adjusted lack of $0.33 per share, on common.
The gross revenue margin on XPeng’s automobile enterprise, a quantity that’s extensively watched by analysts, fell to 10.9% within the fourth quarter from 13.6% within the third quarter on larger prices associated to provide chain points and rising commodity prices. However as CEO He Xiaopeng famous throughout a name for analysts Monday morning, that was nonetheless a major enchancment over the three.5% automobile margin the corporate posted within the fourth quarter of 2020.
Like most automakers, XPeng needed to navigate manufacturing disruptions attributable to ongoing provide chain challenges — specifically, a worldwide scarcity of semiconductor chips — a number of occasions throughout 2021. These disruptions saved XPeng’s glossy EVs in comparatively brief provide amid excessive demand, giving the corporate some added pricing energy to assist cushion the impression of the rising prices.
Xiaopeng stated that the corporate is working to additional ramp up manufacturing additional in 2022. XPeng hopes to quickly ship greater than 10,000 of its flagship P7 sedans in a single month, he stated, and he expects its new P5 sedan to succeed in comparable manufacturing numbers later this 12 months.
XPeng delivered 60,569 P7s in 2021. Deliveries of the P5, which went into manufacturing throughout the fourth quarter, totaled 7,865 final 12 months.
Xiaopeng additionally stated the corporate’s subsequent new mannequin, an upscale electrical SUV known as the G9, is on observe to enter manufacturing within the third quarter of 2022. He stated that he expects the G9’s efficiency to be “head and shoulders” above Chinese language-made rivals, and that it has the potential to be a “blockbuster” hit for the corporate.
Two extra new fashions, constructed on a brand new automobile structure, will observe in 2023, he stated.
The corporate expects to ship between 33,500 and 34,000 automobiles in complete this quarter, representing progress of greater than 150% versus the primary quarter of 2021.
That steering suggests a robust March for the corporate. XPeng delivered a complete of 19,147 automobiles in January and February, a interval that included a number of days of manufacturing unit downtime throughout China’s Lunar New Yr vacation.