Rich McGinn talked a great story on bubblevision, only three or four months before the first of a long line of bad quarterly reports, as Lucent spiraled into the dirt.
Steve
I’m not sure what this has to do with Xpeng or with their CEO buying a bunch of stock? Are you saying that McGinn also bought a bunch of stock and then the company [effectively] went bust? Are you implying that Xpeng is also on the way to going bust and that the CEO did this to try to prop it up somehow?
Xpeng is still unprofitable but its revenue has been steadily climbing since 2021, 2022, 2023.
Xpeng has reached 100,000 plus sales.
2023 1st quarter 18,230
2023 2nd quarter 23305
2023 3rd quarter 40008
2023 4th quarter 60158
2024 1st quarter 21821
2024 2nd quarter 30207
And revenues have increased 60+% in 2024.
https://ir.xiaopeng.com/news-releases/news-release-details/xpeng-reports-fourth-quarter-and-fiscal-year-2023-unaudited
https://ir.xiaopeng.com/news-releases/news-release-details/xpeng-reports-first-quarter-2024-unaudited-financial-results
https://ir.xiaopeng.com/news-releases/news-release-details/xpeng-reports-second-quarter-2024-unaudited-financial-results
Methinks Xpeng could be on the cusp of profitability if sales continue to rise. Xpeng has expanded into Norway, Germany, France, Australia & eyeing other countries in the Asia-Pacific.
This is not a fly by night outfit with a shoestring budget.
And Xpeng offers FSD on their EVs.
Tesla reached profitability in 2021 when sales leaped from 150000 units to 200000 units.
I’m saying that CEOs regard themselves as the #1 promoter of the company. Take their words and actions with as much credibility as a used car salesman’s.
Steve
More news about Xpeng.
ing chip.
Sources cited by the report further reveal that XPeng’s intelligent driving chip is specifically designed to meet AI demands, including end-to-end large models. The product is considered to be is a central computing architecture chip that supports integrated cabin and driving functionalities.
The AI computing power of this chip is said to be equivalent to that of three mainstream intelligent driving chips.
Chinese automakers like BYD, Chery, and ZEEKR have pushed forward in expanding sales in Europe and have begun establishing localized production. One of the BEV leaders in the country, NIO, has committed to new markets in Europe, regardless of any loss of profits due to the tariffs, which currently can go as high as 36.3%.
XPeng Motors is currently facing a 21.3% tariff on EV imports while its production remains in China. To alleviate that upcharge, the XPeng is leveraging its recent partnership with Volkswagen Group and looking to expand vehicle production to a new site in Europe.
At the end of July, Xpeng said it had expanded the use of its self-driving system to all cities in China in a bid to attract more buyers ahead of Tesla’s roll-out of its Full Self-Driving software, which has not yet been approved for use in the country but is expected to enter testing at the end of this year.
The move has made Xpeng the first mainland carmaker to make a semi-autonomous driving system available nationwide.