Tesla's China Rival XPeng Delivers Over 91,500 EVs In Q4, Eyes Massive Growth In Q1

Chinese EV maker XPeng Inc (NYSE:XPEV) shares are trading lower premarket on Tuesday. The company reported fiscal fourth-quarter sales growth of 23.4% year-on-year to 16.11 billion Chinese Yuan ($2.21 billion), topping the consensus estimate of 16.02 billion Chinese Yuan. 

Total revenues increased 59.4% sequentially in the quarter. The Tesla Inc (NASDAQ:TSLA) rival's quarterly vehicle deliveries increased 52.1% Y/Y to 91,507. XPeng's physical sales network had 690 stores, covering 226 cities as of December 31, 2024.

XPeng's self-operated charging station network reached 1,920 stations as of December 31, 2024. Revenues from vehicle sales increased 20.0% Y/Y to 14.67 billion Chinese Yuan ($2.01 billion) on higher deliveries.

Gross margin was 14.4% versus 6.2% a year ago. Vehicle margin was 10.0% versus 4.1% a year ago, primarily attributable to the cost reduction. Operating loss for the quarter was 1.56 billion Chinese Yuan ($0.21 billion). 

Adjusted net ...