Xpeng’s stock declined sharply in trading after the company provided disappointing forecasts for vehicle deliveries in the coming quarter. Hong Kong-listed shares dropped more than 9% on Tuesday, while its U.S.-traded shares had fallen 8.5% the prior day. The decline came despite positive developments in the company’s robotics division.
For the second quarter, Xpeng reported a net loss of 1.34 billion yuan alongside revenue growth of 8% to 19.74 billion yuan. The company projected delivering between 115,000 and 121,000 vehicles in the third quarter, guidance that fell short of market expectations. Analysts at Citi attributed the shortfall primarily to supply chain disruptions affecting production of the MONA L03 model. The bank subsequently adjusted its price targets downward for both Xpeng’s Hong Kong and U.S.-listed shares.
In a separate development, Xpeng’s robotics business unit completed its initial funding round, raising more than $900 million and achieving a post-transaction valuation exceeding $6.3 billion. The financing was led by IDG Capital, with participation from Gaorong Ventures and strategic backing from Tencent and Alibaba. Xpeng’s vice chairman and co-president characterized the funding as advancing the company’s objective to commercialize humanoid robot production on a global scale.
Citi’s analysis suggested that when accounting for the robotics unit’s valuation, Xpeng’s core electric vehicle business carries an implied value of approximately $6.5 billion, comparable to its robotics operations. The bank designated the robotics financing as potentially beneficial over the long term, noting the company could leverage its existing capabilities in artificial intelligence, algorithms, and chip design for robotic applications.
Xpeng has expanded beyond vehicle production into robotics and flying vehicles segments. The company previously gained market share through its lower-priced Mona brand but has encountered challenges sustaining sales momentum as China’s broader electric vehicle market has contracted.
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