Xpeng Shares Drop 9% After 115,000-121,000 Q3 Delivery Forecast Misses, as Robotics Unit Hits $6.3 Billion
Updated
Updated · CNBC · Aug 25
Xpeng Shares Drop 9% After 115,000-121,000 Q3 Delivery Forecast Misses, as Robotics Unit Hits $6.3 Billion
3 articles · Updated · CNBC · Aug 25
Summary
Hong Kong-listed Xpeng shares fell more than 9% Tuesday, after its U.S.-listed stock lost 8.5% overnight, as investors focused on weaker-than-expected third-quarter delivery guidance.
Xpeng forecast 115,000 to 121,000 vehicle deliveries for the third quarter; Citi said that missed expectations largely because supply-chain constraints slowed the ramp-up of the MONA L03.
Second-quarter net loss widened to 1.34 billion yuan from a year earlier even as revenue rose 8% to 19.74 billion yuan, prompting Citi to trim targets for both the U.S. and Hong Kong shares.
Separately, Xpeng's robotics unit raised more than $900 million at a post-money valuation above $6.3 billion, a long-term positive that Citi said could leave the EV business implicitly valued at about $6.5 billion.
The split reaction underscores Xpeng's challenge: monetizing AI and robotics ambitions while reviving car-sales momentum in China's weak EV market.