Xpeng Inc. (XPEV, Financial) has released its financial results for the fourth quarter and the full year of 2024. In Q4, the company reported total revenue of RMB 16.11 billion, marking a year-over-year increase of 23.4% and a sequential rise of 59.4%. The adjusted net loss, excluding non-GAAP measures, was RMB 1.39 billion, an improvement from the RMB 1.77 billion net loss in the same period last year and RMB 1.53 billion in the previous quarter.
For the entire year of 2024, Xpeng's total revenue reached RMB 40.87 billion, up 33.2% compared to RMB 30.68 billion in 2023. The adjusted net loss for the year was RMB 5.55 billion, a significant reduction from the RMB 9.44 billion loss in 2023.
Following the earnings release, Xpeng's co-founder, Chairman, and CEO He Xiaopeng, along with other executives, participated in an earnings call to discuss the results and address analysts' questions.
During the call, analysts inquired about Xpeng's stance on intelligent driving, given the industry's shift towards this technology. He Xiaopeng highlighted the transformative change in the automotive industry as more companies embrace intelligent driving. He emphasized the potential of AI-enabled vehicles, which Xpeng has been pioneering, to deliver comprehensive point-to-point autonomous driving capabilities.
He Xiaopeng also discussed the anticipated impact of Level 3 autonomous driving technology, which he believes will significantly enhance both hardware and software capabilities. He expects that as high-level autonomous driving becomes more prevalent, consumer demand for these features will increase, making intelligent driving a top priority for car buyers.
Furthermore, Xpeng aims to differentiate itself from competitors through its full-stack self-research capabilities and integration of intelligent driving with other vehicle domains such as cabin, chassis, and power systems. The company also leverages its AI platform to ensure rapid data iteration and has considered global deployment efficiency from the outset, giving it a competitive edge.
