Gasgoo Daily: XPENG posts YoY surge, but QoQ slump in Q1 2024 revenue

With Gasgoo Daily, we will offer daily important automotive news in China. For those we have reported, the title of the piece will include a hyperlink, which will provide detailed information.

XPENG posts YoY surge, but QoQ slump in Q1 2024 revenue

XPENG announced on May 21 its total revenues reached 6.55 billion (US$0.91 billion) yuan for the first quarter of 2024, representing an increase of 62.3% from the same period of 2023, and a decrease of 49.8% from the fourth quarter of 2023.

Photo credit: XPENG

Desay SV establishes office in France

On May 16, Desay SV Europe announced the establishment of its first office, which is located in Paris, France. The facility is expected to help the company further accelerate its business development in the European region.

Roewe D5X DMH PHEV model hits market

On May 20, the Roewe D5X DMH model officially hit the market, with four variants available, priced between 119,800 yuan and 146,800 yuan. The model is positioned as a compact SUV and is also the first SUV to feature Roewe's DMH Super Hybrid System.

ZEEKR hits delivery milestone of 250,000 vehicles

On May 20, ZEEKR, the premium electric vehicle maker under Geely Holding, announced that it has delivered over 250,000 vehicles in a span of 31 months.

Li Auto's Q1 2024 revenue jumps 36.4% YoY, but drops 38.6% QoQ

Li Auto reported total revenues of 25.6 billion yuan (US$3.6 billion) for Q1 2024, marking a substantial 36.4% increase from the prior-year period, but representing a 38.6% slump from the previous quarter (Q4 2023).

Pony.ai allowed to test Robotaxi, autonomous truck on Guangzhou's expressways

On May 21, autonomous driving solution provider Pony.ai announced that it has obtained Guangzhou city's first intelligent connected vehicle (ICV) expressway test permit, with one autonomous taxi (Robotaxi) and one autonomous truck model selected for testing. This milestone means autonomous vehicles in Guangzhou are allowed to operate on high-speed roads from now on.

ECARX, GigaAI ally on AI-driven simulation platform for intelligent driving

Recently, global mobility tech provider ECARX announced a partnership with GigaAI to develop an advanced simulation platform based on generative AI and visual large models. This platform aims to accelerate the validation and iteration of intelligent driving technologies.

RoboSense's Q1 2024 revenue surges 149.1% YoY

RoboSense on May 20, released its unaudited financial results for the first quarter of 2024, highlighting a total revenue of 361 million yuan, marking a 149.1% surge year-on-year.

XPENG launches China's first mass-produced end-to-end large model

On May 20, XPENG hosted the XPENG AI DAY event, where it announced the rollout of the AI Tianji in-car OS to all existing XPENG models, to start from 8:00 PM on May 20.

Hesai Group's net revenue drops 16.5% YoY in Q1 2024

Hesai Group's net revenues during the quarter were 359.1 million yuan (US$49.7 million), reflecting a 16.5% decrease from the 429.9 million yuan for the same quarter of 2023. Meanwhile, Hesai’s gross margin stood at 38.8%, up one percentage points from a year ago.

ECARX's revenue jumps 21% YoY in Q1 2024, net loss widens

On May 20, 2024, Geely-backed mobility tech provider ECARX Holdings Inc. announced its unaudited financial results for the quarter of this year, which showed a total revenue of 927.9 million yuan (US$128.5 million), marking a 21% year-over-year (YoY) increase.