Tesla Challenger Xpeng Inc Reports Deliveries of 34,561 Electric Vehicles in Q1, a 159% YoY Increase

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【Summary】Electric electric vehicle startup Xpeng Inc continues to report rising sales for its smart electric vehicles as the company takes on Tesla. The company reported its 2022 Q1 deliveries on Friday along with its monthly totals for March. Monthly delivery of XPeng's flagship P7 sedan exceeded 9,000 units for the first time ever in March.

Eric Walz    May 08, 2022 7:45 AM PT
Tesla Challenger Xpeng Inc Reports Deliveries of 34,561 Electric Vehicles in Q1, a 159% YoY Increase
Sales of XPeng's flagship P7 electric sedan exceeded 9,000 units in March.

Electric electric vehicle startup Xpeng Inc continues to report rising sales for its smart electric vehicles. The company reported its 2022 Q1 sales on Friday along with its monthly totals for March.

XPeng said it delivered a total of 15,414 Smart EVs last month, representing a 202% increase year-over-year and a 148% increase from February.

Monthly delivery of the company's flagship P7 sedan exceeded 9,000 units in March for the first time ever with 9,183 deliveries reported. Its the highest monthly total since the P7 was launched in 2020. 

March deliveries also consisted of 4,398 P5 family sedans and 1,833 G3 and G3i smart compact SUVs. 

XPeng's total deliveries for the first quarter of 2022 reached 34,561 vehicles, a 159% increase year-over-year. It included 19,427 P7s, 10,486 P5s and 4,648 G3 and G3i SUVs.

As of March 31, 2022, XPeng's cumulative deliveries reached 172,514 vehicles.

XPeng is emerging as a strong competitor to Tesla in China with its advanced electric vehicles. XPeng's lineup offers the same high level of technology, including autonomous driving capability, but its vehicles cost about a third less than a comparably equipped Tesla model in China, which is the world's biggest auto market.

The company attributes its robust Q1 delivery results to growing brand awareness and higher demand for its Smart EV products as well as accelerated delivery of its large order backlog from 2021 and new orders received in 2022 after it completed technology upgrades for its Zhaoqing manufacturing plant in February.

XPeng said it achieved strong Q1 delivery results despite ongoing supply chain issues, seasonality factors around the Lunar New Year holiday in February and the impact of recent covid lockdowns which disrupted the automaker's delivery schedule in certain Chinese cities. 

Two weeks ago, XPeng announced the production of its 100,000th P7 smart sedan. The P7 is the first model in XPeng's lineup that hit the 100,000 vehicle production milestone. 

The 100,000th Xpeng P7 rolled off the production line just 695 days after its official launch on April 27, 2020, which according to Xpeng, sets a record for pure electric vehicles from startup auto brands in China.

To commemorate the 100,000 P7, Xpeng unveiled the "P7 562E Black Label Edition" last month at its factory in Zhaoqing, China. The Black Label Edition is based on the P7 all-wheel drive high-performance version that's already on sale. The exterior features black paint with color coordinating wheels and trim, as well as a black interior.

The Black Edition comes equipped with Xpeng's XPILOT 3.0 advanced driver assistance system (DAS) as well as its Navigation Guided Pilot (NGP) hand-free autonomous driving feature and Valet Parking Assist (VPA) which parks the vehicle without assistance. 

The P7 562E Black Label Edition will be officially launched in China on April 10, 2022.

XPeng also continues its expansion outside of China as it looks to become a global electric car company like its main rival Tesla.

The company opened reservations for its new P5 sedan in Europe last month. It's the third vehicle XPeng has on sale in Europe following the previous exports of the G3 SUV and P7 sedan to Norway.

Reservations for XPeng's new P5 sedan were opened simultaneously in Denmark, the Netherlands, Norway and Sweden. The move marks a major milestone for XPeng's European expansion plans.

The P5 is powered by a 66 kWh battery and offers an NEDC range of 465 km (289 miles).

The rising EV adoption rate in all four of the European countries makes them attractive markets for XPeng. The Tesla Model 3 sedan for example, is the most popular EV in Norway right now. EV sales make up nearly two thirds of all new vehicle sales. 

In Nov 2021 at the 19th Guangzhou International Automobile Exhibition, XPeng unveiled its fourth electric vehicle, the flagship G9 full-size SUV. The G9 is one of the most advanced electric vehicles designed by XPeng.

On the outside it looks like a typical full-size luxury SUV, but was conceived and designed from the outset for both domestic Chinese and international markets.

XPeng did not say when the G9 will go on sale, but people familiar with the company's plans said the flagship SUV will go on sale in the third quarter of the year.

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