XPeng Reports Q2 Earnings Miss; Robotics Unit Secures Over $900M in Funding
XPeng Inc (NYSE:XPEV) reported second-quarter results that missed analyst expectations, leading to a decline in its stock price during U.S. pre-market trading on Monday. The company posted a wider-than-expected loss of RMB1.29 per share and revenue of RMB19.74 billion, below the forecasted RMB20.57 billion. Despite an 8% year-over-year increase in total revenue and improved overall gross margin to 20.7%, vehicle deliveries remained flat compared to last year. XPeng also announced a significant funding round for its robotics division, raising over $900 million at a post-money valuation of more than $6.3 billion. The financing was led by IDG Capital and Gaorong Ventures, with strategic participation from Tencent and Alibaba. Funds will be used to advance AI development, global expansion, and mass production capabilities. For the third quarter, XPeng forecasts vehicle deliveries between 115,000 and 121,000 units and revenue of RMB21.7 billion to RMB23.4 billion.
Tickers: $XPEV
Topics: automotive electric vehicles robotics investment stock performance