XPeng Motors: Entering a "Major Product Cycle" in the Next 3 Years, the All-New Brand "MONA" Set to Debut at the Beijing Auto Show

AutoCango recently learned from public sources that Xiaopeng Motors (09868.HK/XPEV.US) disclosed its financial report for the fourth quarter and full year of 2023 on the evening of March 19th. According to the report, Xiaopeng Motors achieved a revenue of 30.68 billion yuan in 2023, with a net loss of 10.38 billion yuan and a gross profit margin of -1.6% for its automotive sector. As of December 31, 2023, Xiaopeng Motors had a cash flow of over 45 billion yuan.

The financial report indicates that Xiaopeng Motors generated a revenue of 30.68 billion yuan in 2023, with automotive sales revenue reaching 28.01 billion yuan. The company attributed this performance to the rapid growth in sales of the Xiaopeng G6 and G9 models.

In terms of sales performance, Xiaopeng Motors saw sustained recovery in 2023, with sales exceeding 20,000 units for consecutive quarters in the fourth quarter. The total cumulative deliveries for the year increased by 17.3% year-on-year to 141,600 units. Specifically, the total deliveries of vehicles in the fourth quarter reached 60,158 units, representing a year-on-year increase of 170.9%.

During the financial report conference call, CEO He Xiaopeng revealed that Xiaopeng Motors will enter a major product cycle in the next three years, planning to launch more than 10 new models. Coupled with globalization and upgraded models, the total number of SOP models will reach 30. Furthermore, Xiaopeng Motors has integrated intelligence, powertrain, and vehicle platforms into a large-scale intelligent platform to maximize commonality and sharing among various models, aiming to achieve a 25% cost reduction target.

He Xiaopeng also disclosed that the new brand "MONA" will be officially unveiled at the Beijing Auto Show, with its first model set to be launched and delivered in the third quarter. It is reported that the new brand will enter the A-level car market priced between 100,000 to 150,000 yuan, targeting global users, emphasizing intelligence, and catering to young demographics, positioning itself as "a new species of AI smart driving".