XPeng Inc (NYSE: XPEV) Announces Unaudited Results of Third Quarter 2020

XPeng Inc (NYSE: XPEV) has announced today the unaudited results for the third quarter completed on September 30, 2020. The company has shared the operational and financial highlights and disclosed the recent developments of the business.

Auto Manufacturer has noted an increase of 342.5% in total revenue. It has described the total revenue of RMB1,990.1 million (US$293.1 million) in the third quarter of 2020 in comparison to the total revenue of RMB449.7 million in the third quarter of 2019. XPeng unveiled that it has recorded an increase of 236.9% from RMB590.8 million for the second quarter of 2020.

Its Gross Margin for the third quarter of 2020 was 4.6% and reported the vehicle margin of 3.2% as compared to the negative 10.8% for the third quarter of 2019 and the negative 5.6% for the second quarter of 2020. XPeng has experienced a loss of RMB1,148.8 million (US$169.2 million) for the third quarter of 2020 in contrast to the RMB776.3 million for the third quarter of 2019.

Shares of XPeng Inc (NYSE: XPEV) soared 4.00% at $34.89 during the pre-market trading session of Thursday. Its share price went from a low point around $17.11 to briefly over $39.50 in the past 52-weeks. XPEV has traded up 95.97% from its 52-weeks low and traded down -15.11% from its 52-weeks high. It has a trading volume of 4.98 million as compared to the average volume of 14.99 million.

Now turning our focus towards its recent developments, it has disclosed that its deliveries in 2020 increased 229.0% as the company has revealed that it has delivered Total Smart EV of 3,040 units in October 2020. In September, the company has also entered into the cooperation Agreement Guangzhou GET Investment Holdings Co., Ltd. The purpose of this agreement is to develop and build a new Smart EV manufacturing base.

The company has also presented its excellent Research and development capabilities in 2020 Tech day on October 24, 2020. XPeng unveiled that its research and development reached RMB635.4 million (US$93.6 million) in the third quarter of 2020. The company is scheduled to host a conference call on November 12, 2020.

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