XPENG Reports Q2 2026 Results: Gross Margin Reaches 20.7%, Overseas Market Drives 25% of H1 Revenue

• Second-quarter revenue totaled RMB19.74 billion. Quarterly gross margin reached 20.7%.

• Overseas deliveries surpassed 20,000 units in Q2, with overseas markets contributing 25% of H1 revenue.

• Robotics business raises over US$900 million, at a post-money valuation of over US$6.3 billion, marking the largest single-round private financing ever recorded in China's embodied AI industry.

• XPENG L03 secures historic order volume at launch, with oversea deliveries of L03 expected to start in Q4, driving the company's quarterly overseas deliveries to exceed 40,000 units.

GUANGZHOU, China, Aug. 24, 2026 /PRNewswire/ -- XPENG, a leading global Physical AI company, today announced its financial results for the second quarter of 2026. 

Physical AI Commercialization Accelerates: Robotics business raises over US$900 million, VLA 2.0 Model First Major Upgrade.

During the earnings call, He Xiaopeng, Chairman and CEO, detailed the company's ongoing transformation into a global leader in the physical AI world.

• Humanoid Robot: XPENG Robotics business raises over US$900 million, at a post-money valuation of over US$6.3 billion, marking the largest single-round private financing ever recorded in China's embodied AI industry. Recently, XPENG's IRON humanoid robot has reached multiple R&D milestones and is about to release capability previews. In 2027, XPENG IRON will officially launch and begin large-scale deliveries in China and overseas to external customers in the retail and service sectors. Monthly production capacity can be rapidly ramped up to several thousand units by 2027 in response to market demand.

• ADAS: Starting at the end of August, XPENG's VLA 2.0 model will undergo its first major upgrade in China. The new version will also integrate VLA and VLM models to achieve integrated cockpit and autonomous driving functionality, bringing selected L4-level capabilities developed for XPENG Robotaxi to passenger vehicles. The goal is to obtain regulatory approval in Europe first in the first half of 2027 and begin deliveries to overseas users.

• Robotaxi: Mass-produced Robotaxi powered by VLA 2.0 has completed more than 2,000 internal test orders in Guangzhou and validated the full end-to-end process for trial passenger operations. Our goal is to achieve passenger-carrying operations without a safety driver by 2027.

Overseas Market Enters High-Growth Trajectory, Contributes over 25% of H1 Revenue

Mr. He emphasized that despite industry-wide cost pressures, operations have remained resilient. Driven by key breakthroughs in premiumization and overseas markets, gross margin surpassed 20.7% in Q2.

In Q2, XPENG's overseas deliveries surpassed 20,000 units for the first time, up 81% year-over-year. In H1 2026, overseas business contributed over 25% of total revenue. The average selling price exceeded €40,000, with per-vehicle revenue and gross profit at the forefront of Chinese automakers expanding globally.

In July, the GX delivered over 7,000 units in the domestic market, making it one of the top-three models in China's NEV SUV segment priced above RMB300,000.

The flagship SUV G9L will officially launch and begin deliveries in China in September. XPENG L03, as the Next-Gen AI SUV Coupe, became a phenomenal hit after its launch, with orders breaking new records for XPENG's entire lineup. Overseas deliveries of the L03 are expected to begin in Q4, driving firmwide quarterly overseas deliveries to exceed 40,000 units.

To accelerate the commercialization of physical AI, XPENG has recently established a group-level strategic BD team, engaging with partners both domestically and overseas to bring Turing AI chips, NGP, Robotaxi and humanoid robot technologies to global markets.

About XPENG

XPENG is a leading global Physical AI company, dedicated to bringing artificial intelligence into the physical world to reshape future mobility and smart living. Through in-house R&D, XPENG has developed a full-stack Physical AI architecture spanning Turing AI chips, world foundation models, and highly integrated software and hardware applications. This unified technology foundation of XPENG powers an expansive product portfolio of smart EVs, robotaxis, and humanoid robots, advancing the deployment of Physical AI at scale. Headquartered in Guangzhou, China, XPENG is dual-primary listed on the New York Stock Exchange and the Hong Kong Stock Exchange. With global capabilities across R&D, manufacturing, sales, and services, XPENG drives continuous technological innovation and fosters an open Physical AI ecosystem, making life smarter, safer, and better for users worldwide. For more information, please visit https://www.xpeng.com/.

For media inquiries:
XPENG PR Department
Email: [email protected] 

SOURCE XPENG