The EV maker's total revenue increased by 616.1% to CNY 2.95 billion, while the net loss added an extra 21%, reaching CNY 786.6 million.
Xiaopeng Automobile City Service Center
The gross margin was 11.2%, compared with 4.8% in Q1 2020 and 7.4% in Q4 2020.
The number of vehicles delivered climbed by 487.4% to 13,300, with month-on-month growth of 2.9%.
Auto sales revenue improved by 655.2% to CNY 2.81 billion.
The gross profit margin on car sales was 10.1%, up from 5.3% in Q1 2020 and 6.8% in Q4 2020.
In April, the total delivery volume was 5,147 units, an increase of 285% over the same period last year.
As of March 31, 2021, XPeng's sales and service network has included 178 sales outlets and 61 service outlets, covering 70 cities; there are 172 supercharging stations installed in 60 cities.
XPeng expects that the vehicle delivery volume in Q2 2021 will be 15500-16000, with a year-on-year growth of 380.2% – 395.7%, revenue to be CNY 3.4-3.5 billion, with a year-on-year growth of 475.5% – 492.4%.
Xiaopeng He, CEO of XPeng, said that the business performance was driven by the company's self-developed automated driving technology and differentiated product strategy. 96% of the P7 models delivered support XPILOT, which will become the company's continuous source of revenue in addition to vehicle hardware sales.
On April 7, it was revealed that XPeng's self-developed chip project had been in deployment for several months, carried out simultaneously in China and the United States. It mainly researches and develops special chips for automatic driving, with a team size of fewer than ten people. If things go well, the company's chips are expected to be rolled out by the end of this year, or early next year.
On April 14, XPeng officially launched its third intelligent car, XPeng P5, which is the world's first mass-produced Lidar intelligent vehicle. XPeng said that the international version of XPeng P5 will be developed and sold to Norway and the EU and would be delivered in Q4 2021.