China’s Xpeng posts record revenue as robotaxi and humanoid ambitions take shape

JPMorgan raises Chinese electric-vehicle maker’s price target, citing long-term AI potential

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Xpeng is broadening its ambitions into advanced mobility and robotics. Photo: AFP

Published: 8:31pm, 17 Nov 2025

Leading Chinese electric-vehicle (EV) maker Xpeng reported record quarterly revenue and sharply narrowed losses in the third quarter, even as its Hong Kong-listed shares fell on Monday after investors shrugged off a bullish call from JPMorgan.

The Guangzhou-based firm’s net loss narrowed by nearly 80 per cent to 380.9 million yuan (US$53.6 million) in the third quarter from 1.81 billion yuan a year earlier, according to a filing to the Hong Kong stock exchange.

Revenue surged 101.8 per cent year on year to 20.38 billion yuan, driven by record deliveries of 116,007 units, up nearly 150 per cent from a year earlier. Its gross margin improved to 20.1 per cent from 15.3 per cent a year earlier, while vehicle margin rose to 13.1 per cent from 8.6 per cent.

Xpeng is broadening its ambitions into advanced mobility and robotics. The company earlier this month debuted its humanoid robot, IRON, with plans for mass production by late next year. It is also expected to introduce new robotaxi models in 2026 for commercial ride-hailing operations.

Xpeng’s revenue surge is driven by record deliveries of more than 116,000 units. Photo: AFP

“We are in the early stages of rapid expansion in terms of sales volume and market share, with robotaxis and humanoid robots advancing rapidly towards mass production,” said He Xiaopeng, chairman and CEO of Xpeng.

He said he believed Xpeng would evolve into a global embodied AI company. “Centred around physical AI applications, we are developing a comprehensive portfolio of technologies and products, alongside a thriving business ecosystem, thereby creating greater value for customers and shareholders worldwide,” He added.

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