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XPeng (NYSE:XPEV) saw a significant uptick in smart EV deliveries in March, with 9,026 units delivered, marking a 99% increase from the previous month and a 29% increase Y/Y.
The XPENG X9, a popular all-electric MPV in China, maintained its lead with 3,946 units delivered in March and nearly 8,000 units delivered since its debut.
In 1Q24, XPENG delivered a total of 21,821 smart EVs, representing a solid 20% increase Y/Y.
The company also reported a notable achievement in user adoption, with the monthly active user penetration rate of its XNGP in urban driving scenarios reaching an impressive 82%.
Additionally, XPENG expanded its services, rolling out the unlimited XNGP function to a wider base of experienced ADAS users across China. The company’s XNGP nationwide routes, which have undergone rigorous safety testing by XPENG teams, are also expanding to enhance the user experience.
In March, XPENG announced strategic partnerships with leading car dealer groups in Thailand, Singapore, and Malaysia, setting the stage for the launch of its right-hand drive G6 model.
The company also made its official entry into the German market, introducing two Smart EV models, the G9 SUV and the P7 sedan. These initiatives are part of XPENG’s broader strategy to further expand into global markets, including France, Italy, and the UK.
XPENG is set to unveil its new brand at the upcoming Auto China Show in Beijing later this month, showcasing its advancements in smart driving and AI-defined mobility.
Shares up 2% premarket.
Peer Li Auto (LI) reached a significant milestone by surpassing 700,000 cumulative deliveries as of March 2024, with 28,984 vehicles delivered in March, indicating a 39.2% Y/Y increase and 43% M/M growth.
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