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 scores 101.8% YoY surge in Q3 2025 revenue

XPENG reported its strongest quarterly performance to date on November 17, with third-quarter (Q3) results marking new highs across multiple financial and operational indicators. Deliveries reached 116,007 vehicles, soaring 149.3% from the previous year and 12.4% from the previous quarter, extending a three-quarter streak of rapid expansion. Revenue grew to 20.38 billion yuan, up 101.8% year-on-year and 11.5% higher than the second quarter, beating market expectations.

Profitability also strengthened meaningfully. XPENG's gross margin rose to 20.1%, its first time above the 20% threshold and 4.8 percentage points higher than a year ago. Automotive gross margin improved to 13.1%, while net losses narrowed sharply to 380 million yuan—down 78.9% year-on-year—as tighter cost controls and improved operating efficiency took hold. By the end of September, the company's cash, equivalents and short-term investments had increased to a record 48.33 billion yuan. XPENG continued expanding its charging footprint as well, operating 2,676 self-built charging stations nationwide, more than 60% of which support ultra-fast charging.

Looking ahead, XPENG expects fourth-quarter deliveries to reach between 125,000 and 132,000 units, with projected revenue of 21.5 billion yuan to 23 billion yuan—representing annual growth of 33.5% to 42.8%.

Leapmotor posts strong YoY growth in Q3 2025 revenue, gross margin

Leapmotor delivered a robust set of results for the third quarter of 2025, reporting a net profit of 150 million yuan—its latest consecutive quarter in the black.

The automaker handed over more than 170,000 vehicles during the quarter, more than doubling its volume from a year earlier, while revenue surged nearly 97% year-on-year to 19.45 billion yuan. Gross margin climbed to 14.5%, marking a significant improvement, and the company ended the quarter with a strong cash position of 33.92 billion yuan alongside positive operating and free cash flow.

The company also announced that it had already hit its 2025 full-year sales target of 500,000 units by mid-November, well ahead of schedule. With momentum building, Leapmotor now plans to push toward a landmark goal of one million vehicles sold in 2026.

QCraft, Chery join forces on mass-production L4 autonomous logistics vehicles

On November 15, QCraft entered a strategic partnership with Chery Commercial Vehicles to jointly develop mass-production L4 autonomous logistics vehicles. The two companies plan to integrate their respective strengths — from advanced self-driving software to large-scale vehicle manufacturing and global market reach — to accelerate the deployment of driverless delivery fleets across urban logistics networks.

Under the agreement, the partners aim to create a new vehicle platform built to automotive-grade standards for commercial autonomous driving. The initiative is positioned as a three-way win for brand development, product capabilities, and service expansion. Their first model has already begun pilot operations in cities of China including Suzhou, Jinhua, and Wuhu, with nationwide and overseas deployments expected to follow.

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