XPENG Reports Q1 2026 Results: Gross Margin Sustains High Level of 20.6%, Accelerating Physical AI Mass Production, Commercialization and Globalization

• First-quarter revenue totaled RMB 13.03 billion. Quarterly gross margin reached 20.6%.

• Overseas deliveries surpassed 6,000 units for the first time in April, targeting sustained monthly overseas deliveries above 10,000 units in Q4.

• The Ultra trim took over 80% of early GX orders, becoming one of the most popular choices in the premium segment market in China.

• In April, ADAS mileage penetration on VLA 2.0-equipped XPENG vehicles surpassed 50% for the first time. VLA 2.0 is currently under testing in Europe.

GUANGZHOU, China, May 28, 2026 /PRNewswire/ -- XPENG, a leading Chinese AI-driven technology company, today announced its financial results for the first quarter of 2026.

Accelerating Physical AI Commercialization: VLA 2.0, Robotaxi and Humanoid Robotics in Full Swing

During the earnings call, He Xiaopeng, Chariman & CEO, detailed the company's ongoing transformation from an automotive manufacturer into a global leader in physical AI world.

• VLA 2.0: VLA 2.0, which saw its ADAS mileage penetration rate on XPENG vehicles exceed 50% for the first time in April, is now being tested in Europe.

• Robotaxi: XPENG GX fleet is already conducting L4 public-road testing in Guangzhou ahead of Robotaxi pilot operations in Q3. The GX's L4 full-redundancy hardware and dual Turing SoC‑based VLA model are decoupled from the vehicle platform, enabling deployment across the entire XPENG lineup, including the MONA series.

• Humanoid Robotics: XPENG has recently completed the proprietary development of the next-gen agile and low-cost dexterous hand. XPENG strives to mass-produce its IRON humanoid robots by year-end, with initial deployment in XPENG showrooms, followed by commercial deliveries in China and overseas next year.

Smart EV Business Drives Profitability, Overseas Markets Expect to Contribute Above 20% of Q2 Revenue

Mr. He emphasized that within the XPENG ecosystem, its smart EV business has already achieved profitability. Quarterly gross margin reached 20.6%. The rapid growth of the automotive segment has generated strong cash flow, supporting its R&D investment for physical AI.

In April, XPENG's single-month overseas deliveries surpassed 6,000 units for the first time. In Q1, XPENG also secured No.1 among emerging Chinese EV brands across Norway, Denmark, Portugal, Indonesia, Belgium and Ireland. Overseas markets expect to contribute above 20% of Q2 revenue.

Launched on May 20, the 6-seater flagship SUV XPENG GX is the ultimate culmination of XPENG's technology vision for the L4 era. Priced above RMB 350,000, the Ultra trim took over 80% of early GX orders, becoming one of China's most popular premium models.

In H2, XPENG plans to introduce four models globally, targeting sustained monthly overseas deliveries above 10,000 units in Q4 and more than doubling its full-year deliveries abroad.

Outlook: Mass Production of Physical AI Will Fuel Huge Returns

XPENG is advancing the mass production and global commercialization of three core physical AI applications—VLA 2.0, Robotaxi, and humanoid robots—as key pillars with strong potential for both commercial scale and capital returns. "According to XPENG's strategic roadmap, the B2B market is projected to thrive first, and international markets are ultimately expected to yield greater commercial returns than the domestic market", said He.

About XPENG

Founded in 2014, XPENG is a leading Chinese AI-driven mobility company that designs, develops, manufactures, and markets Smart EVs, catering to a growing base of tech-savvy consumers. With the rapid advancement of AI, XPENG aspires to become a global leader in AI mobility, with a mission to drive the Smart EV revolution through cutting-edge technology, shaping the future of mobility.

To enhance the customer experience, XPENG develops its full-stack advanced driver-assistance system (ADAS) technology and intelligent in-car operating system in-house, along with core vehicle systems such as the powertrain and electrical/electronic architecture (EEA). Headquartered in Guangzhou, China, XPENG also operates key offices in Beijing, Shanghai, Silicon Valley, and Munich. Its Smart EVs are primarily manufactured at its facilities in Zhaoqing and Guangzhou, Guangdong province.

XPENG is listed on the New York Stock Exchange (NYSE: XPEV) and Hong Kong Exchange (HKEX: 9868).

For more information, please visit https://www.xpeng.com/.

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XPeng Inc.
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SOURCE XPENG