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Shares of Chinese electric vehicle maker Xpeng Inc (NYSE: XPEV, HK: 9868) surged after the company posted impressive first-quarter earnings and a bullish forecast for Q2, signaling strong momentum in the competitive EV market.
Xpeng’s Q1 revenue soared 141.5% year-over-year to RMB15.81 billion ($2.2 billion), driven by a 330.8% surge in vehicle deliveries to 94,008 units. The results, reported Wednesday, exceeded market expectations and showcased robust demand for the company’s smart EVs.
For Q2, Xpeng projects vehicle deliveries between 102,000 and 108,000 units, a year-over-year increase of 237.7% to 257.5%. Revenue is expected to grow 115.7% to 130.5%, reaching between RMB17.5 billion and RMB18.7 billion.
Xpeng’s CEO He Xiaopeng credited the company’s strong performance to an accelerated product cycle and increased adoption of physical AI technologies. He highlighted the recent launch of the 2025 X9 flagship model, which features the company’s Turing AI Smart Driving system, as a significant growth catalyst.
Following the announcement, Xpeng’s Hong Kong-listed shares surged 10.2% to HK$85.45, their highest level since April. In the U.S., XPEV shares closed 13% higher on Wednesday, reflecting investor confidence in the EV maker’s future trajectory.
As competition heats up in the global electric vehicle space, Xpeng’s rapid growth, AI-driven innovation, and rising delivery volumes position it as a key player in the evolving smart mobility sector. The company's strong financial outlook reinforces optimism among investors and analysts looking for sustained growth in China's booming EV market.
