China's XPeng Reports its 2nd Consecutive Month of 10,000+ Electric Vehicle Deliveries
【Summary】Chinese electric vehicle startup and Tesla rival XPeng Inc. (“XPeng”) reported its October deliveries on Monday and it was another strong sales month. The company maintained its strong sales momentum in October with a total 10,138 EVs delivered. It's the second consecutive month in which vehicle deliveries topped 10,000 units.
Chinese electric vehicle startup and Tesla rival XPeng Inc. ("XPeng") reported its October deliveries on Monday and it was another strong sales month.
Despite the challenges of the semiconductor shortage that is affecting vehicle production worldwide, XPeng maintained its strong sales momentum in October with a total 10,138 EVs delivered. It represents a 233% increase year-over-year and the second consecutive month in which vehicle deliveries topped 10,000 units.
XPeng reported its highest ever monthly deliveries in September of 10,412 electric vehicles, which represented a 199% increase year-over-year, and a 44% increase from August.
As of October 31, 2021, year-to-date total vehicle deliveries reached 66,542 units, representing a 289% increase year-over-year. The total includes 45,271 P7 sedan deliveries.
The delivery totals for October included 6,044 P7 sedans, which is XPeng's flagship model, and 3,657 G3 and G3i SUVs.
It's the highest number of G3 SUVs that Xpeng sold in a single month since the vehicle was launched in Dec 2018. The G3 was the EV startup's first model. XPeng's G3 SUV also received a mid-cycle refresh over the summer, making it more attractive to customers in China, the company says.
Xpeng delivered 437 units of its newest model, the P5 fastback, which launched in September. But deliveries of the new P5 have been delayed due to the semiconductor shortage.
Last week, Chinese news outlet Gasgoo reported that XPeng is delivering its new P5 fastback to some customers without the millimeter wave radar units installed that support its advanced driver assist system due to the ongoing semiconductor shortages.
The company's P5 sedan is the world's first production car to come with automotive-grade lidar installed at the factory, which supports its XPILOT automated driving feature and other vehicle safety systems.
However, due to the semiconductor shartages, XPeng may not be able to complete the installation of the lidar sensors until March 2022. Customers have the option to take delivery of their P5's without the lidar installed, or wait to take delivery until the parts are available.
XPeng originally said that deliveries of the new P5 would scale up by the end of October, but with the shortage of semiconductors, those plans have changed.
Xpeng's more affordable electric vehicles give the company a big advantage over Tesla in the world's biggest auto market and its growing sales and record monthly deliveries are an indication of that.
The more affordable P5 for example, offers the same level of technology as Tesla's Model 3 in China, including autonomous driving capabilities, for around half the price. Retail prices for the P5 range from RMB 157,900 to RMB 223,900 (US$24,484 to $34,717). Tesla's Model 3 starts at $36,592 in China.
To Support the charging needs of its customers, Xpeng continues to expand its own charging network in China. As of September 30, 2021, XPeng's branded supercharging network includes 439 stations across 121 Chinese cities. In total, Xpeng offers free supercharging services to customers at 1,648 stations in 221 cities across China.
Xpeng is a U.S. listed company and launched its IPO in Aug 2020. The automaker's shares trade on the New York Stock Exchange under the symbol "XPEV." The stock was up 3% on Monday reaching $48.07.
XPeng is headquartered in Guangzhou, China, with main offices in Beijing, Shanghai, Silicon Valley, San Diego and Amsterdam. The company's EVs are manufactured at its factory in Zhaoqing, Guangdong province.
Originally hailing from New Jersey, Eric is a automotive & technology reporter covering the high-tech industry here in Silicon Valley. He has over 15 years of automotive experience and a bachelors degree in computer science. These skills, combined with technical writing and news reporting, allows him to fully understand and identify new and innovative technologies in the auto industry and beyond. He has worked at Uber on self-driving cars and as a technical writer, helping people to understand and work with technology.
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