XPeng boasts 483% year-on-year surge in May deliveries

Shanghai (Gasgoo)- Chinese EV startup XPeng Inc. (XPeng) said its new vehicle deliveries reached 5,686 units in May, soaring 483% year on year, while also growing 10% month on month.

XPeng G3; photo credit: XPeng

The May deliveries consisted of 3,797 P7 sedans and 1,889 G3 SUVs. Notably, the P7 deliveries hit a record high of 3,797 units on a monthly basis.

For the first five months of the year, year-to-date deliveries totaled 24,173 units, zooming up 427% from a year earlier.

The launch of the P7 Wing edition, and the lithium iron phosphate (LFP) battery-powered G3 and P7 partly contributed to the blooming delivery results to date, the company said.

In the latest monthly sales results, the EV startup also referred to the positive effect from its intelligence strategy. “Launched in January this year, XPILOT 3.0 and its Navigation Guided Pilot (NGP) highway solutions have achieved a strong set of customer utilization rates. Additionally, these solutions enable the company to generate incremental revenues from its proprietary XPILOT software,” said XPeng.

For the first quarter of 2021, total revenue from the XPILOT 3.0 software reached around 80 million yuan ($12.552 million), the startup announced at the earnings call after announcing its Q1 2021 financial results.

“For the first time, the revenue from our XPILOT software was reflected in gross margin, marking a significant milestone in Chinese EV industry,” said Dennis Lu, XPeng's Vice President of Finance.

As for sales network, XPeng founded two sales service subsidiaries in Shandong's Zibo and Hainan's Haikou respectively last month.