XPeng Reports Q4 and Full Year 2025 Financial Results: 429,445 Annual Deliveries with 125.9% YoY Growth

GUANGZHOU, China, March 20, 2026 /PRNewswire/ -- XPeng Inc. ("XPENG" or the "Company," NYSE: XPEV and HKEX: 9868), a leading global AI mobility technology company, today announced its unaudited financial results for the three months and fiscal year ended December 31, 2025.

Operational and Financial Highlights for the Three Months Ended December 31, 2025

Total deliveries: 116,249 vehicles (Q4 2025)

Delivery Comparison:

- Q4 2025: 116,249

- Q3 2025: 116,007

- Q2 2025: 103,181

- Q1 2025: 94,008

- Q4 2024: 91,507

- Q3 2024: 46,533

[i] Cash position includes cash and cash equivalents, restricted cash, short-term investments and time deposits. Time deposits include restricted short-term deposits, short-term deposits, current portion and non-current portion of restricted long-term deposits, current portion and non-current portion of long-term deposits.

Key Financial Results (in RMB billions, except for percentage)

For the Three Months Ended December 31, 2025:

- Vehicle sales: RMB19.07 billion (US$2.73 billion)

- Vehicle margin: 13.0%

- Total revenues: RMB22.25 billion (US$3.18 billion)

- Gross profit: RMB4.74 billion

- Gross margin: 21.3%

- Net profit: RMB0.38 billion

- Non-GAAP net profit: RMB0.51 billion

Year-over-Year Changes:

- Vehicle sales: +30.0%

- Vehicle margin: +3.0 percentage points

- Total revenues: +38.2%

- Gross profit: +104.0%

- Gross margin: +6.9 percentage points

- Net profit: +128.8% (from loss of RMB1.33 billion to profit of RMB0.38 billion)

- Non-GAAP net profit: +136.3%

Quarter-over-Quarter Changes:

- Vehicle sales: +5.6%

- Vehicle margin: -0.1 percentage points

- Total revenues: +9.2%

- Gross profit: +15.5%

- Gross margin: +1.2 percentage points

- Net profit: +200.6% (from loss of RMB0.38 billion to profit of RMB0.38 billion)

- Non-GAAP net profit: +432.6%

Management Commentary

"In 2025, XPENG delivered a total of 429,445 vehicles, representing a 125.9% year-over-year increase. We continue to push the boundaries of Physical AI, accelerating the mass production and commercialization of product innovations as we expand our global footprint," said Mr. Xiaopeng He, Chairman and CEO of XPENG. "I believe XPENG is at a historical inflection point for Physical AI applications. Our goal is not only to grow our global market share of AI-defined vehicles and bridge the gap from L2+ assisted driving to L4 autonomous driving, but also to bring our second-generation VLA model to international markets and achieve scale production of advanced humanoid robots."

"In the fourth quarter of 2025, XPENG's gross margin reached 21.3%, reaching a new record high, with net profit hitting RMB0.38 billion. By leveraging a business model driven by technological leadership, we have established a profitability path that sets us apart from traditional automakers," added Dr. Hongdi Brian Gu, Vice Chairman and Co-President of XPENG. "Our cash on hand of RMB47.66 billion at 2025 year-end provides a solid foundation for our unwavering investment in Physical AI R&D."

Recent Developments

Deliveries in January and February 2026:

- The company will announce these figures in its next quarterly earnings release.

Deployment Progress and Technological breakthroughs of VLA 2.0 Intelligent Driving System:

During XPENG's "The Future" VLA Media Experience Day on March 2, 2026, the company unveiled the architecture and deployment plan for its VLA 2.0 intelligent driving system.

Unaudited Financial Results for the Three Months Ended December 31, 2025

Total revenues were RMB22.25 billion (US$3.18 billion) for the fourth quarter of 2025, representing an increase of 38.2% from RMB16.11 billion for the same period of 2024 and an increase of 9.2% from RMB20.38 billion for the third quarter of 2025.

Revenues from vehicle sales were RMB19.07 billion (US$2.73 billion) for the fourth quarter of 2025, representing an increase of 30.0% from RMB14.67 billion for the same period of 2024, and an increase of 5.6% from RMB18.05 billion for the third quarter of 2025. The year-over-year and quarter-over-quarter increases were mainly attributable to higher vehicle deliveries and improved product mix.