While XPeng’s share price languishes just above a 52-week trough, the Chinese electric‑vehicle maker is making tangible operational strides. The company has kicked off mass production of its first robotaxi at its Guangzhou plant, moving the autonomous‑driving project from prototype to assembly line. At the same time, XPeng has entered the Romanian market this week, offering four models from around €44,000, as part of a broader push to double overseas sales this year. Talks with major shareholder Volkswagen over a potential European factory are ongoing.
The contrast between factory‑floor momentum and market sentiment is stark. XPeng’s stock slipped to a new 52‑week low of €11.32 on Thursday and has shed roughly 32% of its value since the start of 2025. The shares closed Friday at €11.86, a mere whisker above that floor, after a 2.77% gain that did little to offset a weekly loss of nearly 5%. The technical picture remains strained: the relative strength index sits at 33.3, approaching oversold territory but not yet signalling a reversal. The equity trades more than 15% below its 50‑day moving average and almost 30% under the 200‑day line.
That gap between price and operations is partly explained by the numbers. First‑quarter revenue came in at 13.03 billion renminbi, a year‑on‑year drop of 17.6%, while vehicle sales tumbled 23.5%. The net loss widened to 1.78 billion renminbi from 0.66 billion a year earlier, and cash reserves shrank from 47.66 billion to 42.09 billion renminbi — still comfortable, but eroding. On the positive side, gross margin improved to 20.6% from 15.6%, thanks to cost cuts and a richer product mix, with vehicle margin climbing to 12.1%.
Should investors sell immediately? Or is it worth buying XPeng?
The delivery trajectory is the key test for the summer quarter. XPeng handed over 32,158 vehicles in May, up 4% from April, but management has set a second‑quarter target of 100,000 to 106,000 units — implying a roughly 60%‑70% sequential jump. That would require an exceptionally strong June. For the same period, the company projects revenue of 19.60 to 20.80 billion renminbi.
In a bid to escape the brutal price war in China’s mass‑market segments, XPeng is leaning on premium models. The recently launched GX SUV, priced between 279,800 and 359,800 yuan with a limited 10,000‑yuan discount, targets buyers who value technology and brand over low cost. The robotaxi, built on the same GX platform, is part of a longer‑term strategy the company calls “physical artificial intelligence,” culminating in the global rollout of its VLA 2.0 autonomous‑driving system planned for 2027.
For now, the market is waiting to see whether the second‑quarter delivery and revenue numbers can validate the bullish narrative. Until then, the €11.32 floor remains the critical level to hold. A return to the 50‑day average at €13.97 — roughly 18% above current levels — would be the first tangible sign of momentum turning, but that hill looks steep from here.
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