XPeng loss narrows as Q2 deliveries reach record and price war bites
XPeng delivered 103,295 vehicles in Q2, a record, and generated 17.1 billion yuan in revenue. Losses narrowed versus the prior quarter, while revenue reached about 2.1 billion euros. Gross margin rose to 20.7%, but vehicle gross margin fell to 12.1% as China’s EV price war compresses profits; the company has delivered 204,000 cars so far this year and has expanded into Europe with 60,000+ deliveries across 65 countries.