XPeng Inc. (XPEV) Stock: Surges Over 15% After Q125 Earnings Beat and Soaring Deliveries

TLDR

XPeng stock rose over 11% to $21.94 after strong Q1 2025 earnings Q1 deliveries surged 331% year-over-year to 94,008 units Revenue rose 141.5% to RMB15.81 billion ($2.18 billion) Gross margin improved to 15.6%, vehicle margin hit 10.5% XPeng launched the X9 model with AI Smart Driving standard

XPeng Inc. (NYSE: XPEV) shares jumped 11.43% to $21.94 by 11:03 a.m. ET on Wednesday after the company reported robust unaudited results for the first quarter of 2025.

XPeng Inc. (XPEV) 

The Chinese electric vehicle (EV) maker delivered 94,008 vehicles in Q1, a 330.8% increase from the same period last year. This performance marked a quarterly delivery record.

Revenue reached RMB15.81 billion ($2.18 billion), up 141.5% year-over-year. Vehicle sales revenue climbed 159.2% to RMB14.37 billion ($1.98 billion). While revenue dipped slightly from Q4 2024, XPeng maintained strong margins, with gross margin at 15.6% and vehicle margin at 10.5%, reflecting improved economies of scale and cost controls.

XPeng Inc., $XPEV, Q1-25. Results:
🟢 +5.3% Pre-Market

📊 Adj. EPS: -$0.06 🟢
💰 Revenue: $2.18B 🟢
🔎 XPeng hit a record 94,008 vehicle deliveries and narrowed its net loss significantly, supported by a stronger gross margin and sustained cost control. pic.twitter.com/5Lko2BJXCv

— EarningsTime (@Earnings_Time) May 21, 2025

 

Losses Narrow, Margins Improve

Despite a net loss, XPeng showed significant improvement. Net loss shrank to RMB0.66 billion ($0.09 billion), down from RMB1.37 billion in Q1 2024. On a non-GAAP basis, net loss was RMB0.43 billion ($0.06 billion). Basic and diluted net loss per ADS were RMB0.70 ($0.10), versus RMB1.45 a year ago. The company ended the quarter with RMB45.28 billion ($6.24 billion) in cash, restricted cash, and investments.

Operating expenses showed a controlled trajectory. Research and development spending rose 46.7% to RMB1.98 billion due to investments in new models and tech, while SG&A rose 40.2% year-over-year to RMB1.95 billion but declined from Q4 levels due to lower advertising spend.

New Models and April Delivery Update

XPeng launched the 2025 X9 flagship model on April 15, 2025, featuring Turing AI Smart Driving as standard. This marks a strategic push into high-tech smart EVs. April 2025 deliveries totaled 35,045, pushing year-to-date deliveries to 129,053 vehicles.

The company’s infrastructure also expanded. XPeng operated 690 stores across 223 cities and 2,115 charging stations by March 31, 2025, including 1,089 ultra-fast charging locations.

Volkswagen Partnership Supports Service Revenue

Revenue from services and other operations grew 43.6% year-over-year to RMB1.44 billion, helped by technical R&D collaboration with Volkswagen and increased income from repair, maintenance, and financing services. Service margin rose to 66.4%, up from 53.9% last year.

XPeng’s earnings highlight a significant turnaround as it scales operations, rolls out new models, and improves profitability metrics. The Q2 2025 delivery forecast of 102,000–108,000 units signals continued momentum and strong demand.

 

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