XPeng will launch two new platforms and their first models in 2023: the C-segment platform and the B-segment platform.
(Image credit: CnEVPost)
XPeng Motors (NYSE: XPEV, HKG: 9868) today reported fourth-quarter earnings that exceeded expectations and followed up with a conference call with analysts.
Below are the key points mentioned by XPeng Chairman and CEO, He Xiaopeng, during the call.
XPeng encountered some delivery problems last year, the proportion of orders with lithium iron phosphate batteries was large, but only a relatively small proportion was finally delivered, XPeng will solve this problem this year through cooperation with suppliers.
The cost of raw materials is rising quickly, but this will change in one quarter at the earliest and three quarters at the latest.
New models, including the G9, will allow for structural improvement in gross margin.
XPeng's mid-to-long-term goal is to increase the overall gross margin to more than 25 percent. With the help of the scale effect and operating leverage, expenses will continue to decline.
The development of XPeng XPILOT3.5's core feature City NGP is progressing well, and after receiving approval from authorities, the feature is scheduled to be launched in the first cities by the end of the second quarter of this year.
XPeng plans to officially launch XPILOT 4.0 in 2023, thus enabling intelligent assisted driving for all scenarios on the highway and in the city. In 2023, XPeng will have at least four models supporting XPILOT 4.0 and will gradually unify the intelligent assisted driving hardware and software platforms for new XPeng models.
XPeng will launch Robotaxi test operations on G9 in the fourth quarter of this year.
XPeng will launch two new model platforms and their first models in 2023, the C-segment platform and the B-segment platform, which will use integrated die-casting technology.
These new platforms will inherit and develop XPeng's continued leadership in aesthetic design capabilities, electrification and smart driving capabilities, and advanced manufacturing processes.
They will help XPeng gain extreme cost control and reach a broader user base in the mid-range and high-end markets with significant growth potential.
In 2022, XPeng aims to have P7 sales exceed 10,000 units in a single month.
In 2021, XPeng P7 deliveries are 60,600 units, up 302 percent year-on-year.