XPeng Motors successfully reached its market expectation of CNY 7.4 billion. Its expectation and deliveries number showed a high potential to grow in Q2 2022.
On May 23, 2022, XPeng Motors (XPEV: NYSE), also known as Guangzhou Xiaopeng Motors, released its financial report for Q1 2022. XPeng Motors gained a net revenue of CNY 7.45 billion (USD 1.1 billion) in Q1 2022, up 152.6% year-over-year compared with CNY 2.95 billion (USD 443.6 million) in Q1 2021. Till Q1 2022, XPeng Motors has maintained a year-over-year growth rate of more than 150% for seven consecutive quarters.
XPeng Motors reported a net loss of CNY 1.7 billion (USD 255.6 million) in Q1 2022. Comparably, its net loss in Q1 2021 was CNY 787 million (USD 118.3 million). Its CEO Mr. He concluded the increase in its net loss was due to the COVID-19. Many car-related manufacturers in the Yangtze River Delta region shut down for several weeks, because of exposure of the pandemic in China in Q1 2022. The chip shortage for car use was also harsher than expected. Mr. He mentioned that some of them had resumed production in May 2022, and would speed up to meet the needs. As a result, we can look forward to a high increase in its deliveries in Q2 2022.
In Q1 2022, XPeng Motors produced 34,561 units, up 159% year-over-year. Even though the COVID-19 might influence its production, it is impressive that XPeng Motors can exceed the upper limit listed in the previous quarter’s financial report. XPeng Motors mentioned that they would continue to speed up, and meet the expectation of around 31,000 to 34,000 vehicles - up 78.2% to 95.4% year-over-year. They expected to gain revenue of CNY 6.8 billion (USD 1 billion) to CNY 7.5 billion (USD 1.1 billion), up 80.8% to 99.4% year-over-year.