XPeng reports Q1 revenue surge, delivering nearly 94,000 EVs and exceeding market forecasts.

XPeng Inc., a Chinese electric vehicle (EV) maker, reported a 141.5% year-over-year increase in Q1 2025 revenue to RMB 15.81 billion, surpassing market expectations. Vehicle deliveries reached 94,008 units, a 330.8% year-over-year increase. The company's gross margin improved to 15.6%, and vehicle margin rose to 10.5%. Despite a net loss of RMB 660 million, XPeng's shares rose due to strong results, adding to a 66% rally this year. The company projects Q2 deliveries of 102,000 to 108,000 units, up 237.7% to 257.5% year-over-year.