- That means Xpeng is targeting 2025 deliveries of about 380,000 vehicles.
- Xpeng is off to a good start in 2025, delivering 30,350 vehicles in January, up 267.88 percent from a year earlier.
Xpeng (NYSE: XPEV) aims to see deliveries double this year from 2024, the same as local peer Nio (NYSE: NIO).
Xpeng is confident it will see deliveries double in 2025 from last year's level, the electric vehicle (EV) maker's chairman and CEO He Xiaopeng said today in a speech at a Guangdong provincial government conference, according to a transcript of the speech obtained by CnEVPost.
It's the first time the management of Guangzhou, Guangdong-based Xpeng has mentioned a 2025 delivery target, although Mr. He didn't go into any more detail.
Xpeng delivered 190,068 vehicles in 2024, and the doubling means it is targeting 2025 deliveries of about 380,000 vehicles.
In an earnings call last November 20, management of Shanghai-based Nio (NYSE: NIO) said it was confident it would see sales double in 2025.
Nio Inc delivered 221,970 vehicles in 2024, and doubling would mean a 2025 target of about 440,000 deliveries.
Xpeng's other local peer, Li Auto (NASDAQ: LI), has yet to mention anything about a 2025 delivery target.
Back to Xpeng, the company is off to a good start in 2025, despite a weak start to the year for China's auto market as a whole.
The company delivered 30,350 vehicles in January, marking the third consecutive month above the 30,000 mark, according to data it released on February 1.
This was a 267.88 percent increase from the 8,250 units delivered in the same month last year, albeit a 17.29 percent decrease from December's record 36,695 units.
Xpeng expects to be a company that transforms the future of mobility, providing self-driving cars for urban trips, using flying cars for provincial trips and humanoid robots for last-mile scenarios, Mr. He said in a speech today.
“We believe it will take long lead times and high investment in research and development to get there,” he said.
Over the past decade, Xpeng has cumulatively invested more than RMB 50 billion ($6.9 billion) in R&D and manufacturing, he noted.
In 2025, Xpeng and its flying car subsidiary Xpeng Aeroht are expected to spend a total of about RMB 9.5 billion on R&D, with about RMB 4.5 billion on artificial intelligence (AI), Mr. He said.
Xpeng Aeroht, which has been in business in Guangdong for more than 10 years, has grown to become Asia's largest flying car company, with a team of more than 1,300 people, 85 percent of whom are R&D personnel, he said.
Xpeng Aeroht plans to launch and pre-sell its modular flying car “Land Carrier” within this year, with deliveries starting in the second quarter of 2026, Mr. He said.
The flying car unit's factory, which broke ground in Guangzhou last October, has a planned annual capacity of 10,000 units, he noted.
By comparison, the world's largest small aircraft maker currently has peak annual deliveries of less than 1,000 units, Mr. He said, without mentioning the manufacturer by name.
He also mentioned that Xpeng has entered the global automotive market in 30 countries and regions in 2024.
The company will continue to fast-track its globalization strategy in 2025, and will enter a cumulative total of more than 60 countries and regions, he said, repeating the previously mentioned target.
In the next 10 years, Xpeng wants half of its car sales to come from overseas, he said.
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