Xpeng is among the three Chinese EV makers that are listed in the US publicly. Xpeng sales increase by 617% than last year’s sales in June. Most of the sales were by selling G3 and P7 models. They sold 6,565 units totally but ranking last among the Chinese EV makers in the US.
Nio topped the June sales among the Chinese EV makes in the US by selling 8,083 units. Initially, Xpeng was considered for ranking second till Li Auto announced that they sold 7,713 units in June. Regardless, Xpeng broke its own record by having the highest sales since it started.
Furthermore, 4,730 Xpeng P7 models were sold, and 1,835 Xpeng G3 models were sold. Their total sales this year reached 30,738 units, which is already 459% more than last year. In Q3, a new Xpeng model is going to enter the market, the G3i model. It will be released in July, and deliveries will start by September. And another model, P5, is expected to be released soon. Hence the sales are expected to increase with next quarter.
Xpeng stated, “XPeng also plans to launch its third production model, the P5 family-friendly smart sedan, in the third quarter of 2021 with deliveries expected in the fourth quarter of 2021. Upon delivery, the P5 will be the world’s first mass-produced Smart EV equipped with auto-grade LiDAR technology.”
Xpeng stock has doubled since last year in August 2020. But lower than the November 2020 value. In Q2, the company increased sales by 1,400 units than the Q1 sales.
Xpeng Motors said it’s going to raise $1.8 billion with listing in Hong Kong. The money is to be investing in smart car technologies like autonomous driving software. Expanding their portfolio by working on technologies related to smart cars.
Besides their entry into global sales, they have already planned to have two more manufacturing plants in China. In China, the car is to compete with Tesla and Nio. However, the company is far from beating its competition. Nio and Li Auto have been beating their own records where Li Auto increased its own sales by 2,000 in Q2 than Q1. At the same time, other carmakers have more than one model on sale. Li Auto is relying on one model for now.
Xpeng stated, “P7 deliveries continued record-breaking growth in June, reflecting the P7’s rising popularity among China’s tech-savvy consumers. Since mid-2020, 34,588 P7s have been delivered. The P7’s Navigation Guided Pilot (NGP) highway solutions are attracting wide customer appeal, reinforcing the Company’s commitment to technology innovation.”