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XPeng Stock Rallies On Revenue Beat, Talk of Robotaxis

Published 24/11/2021, 04:44 am
© Reuters
XPEV
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By Sam Boughedda

Investing.com — Chinese electric vehicle company Xpeng Inc (NYSE:XPEV) announced a loss per share of 15 cents on revenue of $888 million. Analysts polled by Investing.com anticipated per-share loss of 18 cents on revenue of $789 million.

XPeng shares rose 7% on Tuesday to just below $51.

The company's quarterly vehicle deliveries reached 25,666, representing a 199.2% increase year-over-year.

"In the third quarter, we continued record-setting growth with the highest vehicle deliveries among China's startup new energy vehicle automakers," commented He Xiaopeng, Chairman and CEO of XPeng.

"This outperformance testifies to the market's recognition of the differentiated value our vertically integrated in-house developed software and hardware bring to our vehicles."

A point of note in the earnings release was the CEO's mention of robotaxi's. Xiaopeng said the company has made solid progress in its Navigation Guided Pilot technology, which expands usage to "complex city driving scenarios."

Xiaopeng said the technology has fueled "greater confidence" in its "ability to explore autonomous driving enabled mobility solutions in the future, such as robotaxi technologies."

For Q4, XPeng expects deliveries to be between 34,500 and 36,500, representing a year-over-year increase of approximately 166.1% to 181.5%.

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