Chinese electric vehicle manufacturer XPeng Motors expects vehicle delivery in Q1 2021 to quadruple to 12,500 units and its revenue to grow by 5 times to CNY2.6bn ($398mn) on an annual basis.
The firm’s deliveries rose by 112.5pc to 27,041 units in FY2020 compared to 12,728 units in FY2019. In the fourth quarter of FY2020 the company’s deliveries saw a 302.9pc rise to 12,964 vehicles compared to 3,218 vehicles in Q4 FY2019 and increased by 51.1pc from 8,578 units in Q3 FY2020.
In January this year, XPeng’s deliveries saw a 470pc surge to 6,015 units. In February, sales stood at 2,223 units. XPeng’s EV sales revenue from grew by 151.8pc to CNY5,844.3mn in FY2020 from CNY2,321.2mn in FY2019. Its sales revenue in Q4 FY2020 and increased to CNY2,735.4mn from CNY575mn in Q4 FY2019.
The company’s total revenue increased by 151.8pc to CNY5,844.3mn last year from CNY2,321.2mn in FY2019. Its total revenue in Q4 FY2020 grew by 345.5pc to CNY2,851.4mn compared to CNY640mn in the same quarter in FY2019.
($1 = CNY6.53)