Gasgoo Munich- On August 24, XPENG Group (NYSE:XPEV/HK.9868) released its unaudited financial results for the second quarter of 2026.
For the period, total revenue came in at 19.74 billion yuan — an 8.0% year-over-year increase and a 51.5% jump from the previous quarter. Gross margin stood at 20.7%, up 3.4 percentage points annually and beating market estimates of 19.2%.
Source: XPENG
On the delivery front, XPENG handed over 103,295 vehicles in the second quarter, surging 64.8% from the first three months. The GX model accounted for 6,739 of those deliveries in June, marking the month the 10,000th unit rolled off the assembly line. Automotive sales revenue climbed 1.0% year-over-year to 17.05 billion yuan.
Notably, service and other revenue for the second quarter of 2026 jumped 93.9% to 2.70 billion yuan, driven primarily by R&D services provided to other automakers and stronger parts sales. Profit margins for this segment soared 21.5 percentage points to 75.1%. R&D spending rose 32.1% to 2.91 billion yuan, leaving the company with a cash reserve of 40.48 billion yuan as of June 30.
Separately, XPENG's robotics arm announced it has closed a first-round funding of more than $900 million, valuing the unit at over $63 billion (approximately 430 billion yuan). That sets a new record for a single private equity round in China's embodied intelligence sector. IDG Capital led the round, with participation from Gaorong Ventures and strategic investors Tencent and Alibaba. XPENG Group will retain a controlling stake in the robotics business.
Looking ahead, XPENG forecasts third-quarter vehicle deliveries between 115,000 and 121,000 units, with total revenue expected to range from 21.7 billion to 23.4 billion yuan.
