new Xpeng GXImage: XpengXpeng generated total revenue of 13.03 billion yuan (around 1.65 billion euros) in the first quarter of 2026. This marked a decline of 17.6 per cent compared to the first quarter of 2025 and a sharp drop of 41.4 per cent compared to the fourth quarter of 2025.The company continues to rely exclusively on vehicle sales for revenue generation. Revenue from vehicle sales reached 11 billion yuan (approximately 1.4 billion euros) in the first quarter of 2026, down 23.5 per cent year-on-year and 42.3 per cent lower than in the previous quarter.This revenue decline is reflected in the delivery figures: while deliveries in Q1 2025 reached 94,008 units and even 116,249 units in Q4 2025, the 62,682 deliveries in the first quarter of 2026 represent a sharp decline compared to both reference periods.The significant discrepancy between Q4 2025 and Q1 2026 is likely due to seasonal effects, as seen, for example, with rival Nio. The fourth quarter in China is traditionally the strongest, while the first quarter tends to be weaker, partly due to the Chinese New Year festivities. Additionally, China’s electric vehicle subsidies were reduced at the turn of the year. However, the sharp decline compared to Q1 2025, which was not observed at Nio, also points to internal challenges.Xpeng’s revenue from ‘services and other activities’ is also noteworthy, having increased by 41.2% year-on-year to 2.03 billion yuan (257 million euros). This growth is primarily attributed to higher revenues from technical research and development services—likely linked to the partnership with Volkswagen, which holds a 5% stake in Xpeng. Together, they have already launched two vehicles: the battery-electric SUV ID. Unyx 08 and the battery-electric saloon ID. Unyx 07.The net loss for the first quarter of 2026 amounted to 1.78 billion yuan (225 million euros), compared to a loss of 0.66 billion yuan (84 million euros) in the same period of 2025 and a profit of 0.38 billion yuan (48 million euros) in the fourth quarter of 2025.Xpeng has pinned its hopes on its new flagship SUV, the Xpeng GX. Unveiled in February and launched on 20 May, the vehicle, which visually resembles a Range Rover, features a Bosch steer-by-wire system and is also produced directly from the factory as a robotaxi version.“Kickstarted by the successful launch of the GX, Xpeng will deliver four new models this year, positioning us for a robust sales growth trajectory,” said founder and CEO He Xiaopeng. “This year, I am dedicated to leading our team to achieve the mass production of Robotaxis and humanoid robots. We are nurturing a global business ecosystem to transform physical AI technologies into new growth drivers for revenue and profit.”xiaopeng.com
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