人民财讯11月21日电，11月21日，小鹏汽车迎来第100万台整车下线。从1到第50万台整车下线，小鹏汽 车用了82个月；从50万到第100万台整车下线，小鹏汽车只用了14个月。2025年1—10月，小鹏汽车累计 交付达355209台，同比增长190%。 ...

Core Insights - Xiaopeng Motors' Chairman and CEO He Xiaopeng announced at the Guangzhou Auto Show that the Xiaopeng X9 Super Extended Range version broke the historical daily order record within one hour, with northern region orders exceeding 50% for the first time [1] - The Xiaopeng P7+ is set to officially launch in overseas markets in January 2026, with plans to introduce three new models internationally in the same year [1] - Xiaopeng Motors celebrated the production of its 1 millionth vehicle, achieving this milestone in just 14 months after reaching 500,000 units, compared to 82 months for the first 500,000 units [1]

Core Viewpoint - Xpeng Motors' stock has declined nearly 20% this week, with a current price of 78.8 HKD, amid concerns over slowing sales growth and increased market competition following the launch of the new X9 extended-range model [1][1]. Group 1: Stock Performance - Xpeng Motors' stock fell by 3.73% to 78.8 HKD, with a trading volume of 880 million HKD [1]. - The stock has cumulatively dropped nearly 20% this week [1]. Group 2: New Product Launch - The Xpeng X9 extended-range version was officially launched on November 20, with prices ranging from 309,800 to 329,800 RMB, offering two models differentiated by their assisted driving capabilities [1]. - The new model incorporates "Xpeng Kunpeng Super Extended Range Technology," utilizing an 800V high-voltage platform and 5C fast charging technology [1]. Group 3: Financial Outlook - Goldman Sachs reported that Xpeng's Q3 performance met expectations, but the Q4 revenue guidance is likely to fall short due to slowing sales growth and intensified market competition [1]. - Despite short-term sales momentum being relatively mild and a limited number of new model releases, Xpeng is expected to outperform peers in seasonal performance in Q1 next year, with plans to launch three extended-range electric vehicle versions (G6, G7, P7+) [1]. - Management comments on pre-order data for the X9 suggest that orders for the extended-range versions may be three times higher than those for pure electric vehicles [1].

Core Viewpoint - Xiaopeng Motors (09868) has seen a nearly 4% decline in stock price, accumulating a 20% drop this week, attributed to market competition and slowing sales growth despite the recent launch of the X9 extended-range model [1] Group 1: Stock Performance - As of the latest update, Xiaopeng Motors' stock is down 3.73%, trading at HKD 78.8, with a trading volume of HKD 880 million [1] - The stock has experienced a cumulative decline of 20% this week [1] Group 2: New Product Launch - On November 20, Xiaopeng officially launched the X9 extended-range version, priced between CNY 309,800 and CNY 329,800, with two models differing mainly in driving assistance capabilities [1] - The new model incorporates "Xiaopeng Kunpeng Super Extended Range Technology," utilizing an 800V high-voltage platform and 5C fast charging technology [1] Group 3: Analyst Insights - Goldman Sachs reported that Xiaopeng's Q3 performance met expectations, but the Q4 revenue guidance is likely to fall short due to slowing sales growth and increased market competition [1] - Despite short-term sales momentum being relatively mild and limited new model releases, Xiaopeng is expected to outperform peers in seasonal performance in Q1 next year, with plans to launch three extended-range electric vehicle versions (G6, G7, P7+) [1] - Management comments on pre-order data for the X9 suggest that orders for the extended-range version may be three times higher than those for the pure electric version [1]

Group 1: Core Insights - Xiaopeng Motors officially launched its first range-extended model, the Xiaopeng X9 Super Range Extender, on November 20, with CEO He Xiaopeng emphasizing the innovative nature of this next-generation vehicle [1] - The company is transitioning to a dual-energy strategy, combining pure electric and range-extended technologies, which He Xiaopeng believes will be more suitable for global promotion in the long term [3] - Xiaopeng Motors aims to achieve profitability by the fourth quarter of 2025, with He Xiaopeng stating a 99.999% probability of meeting this goal [5] Group 2: Robotics Development - The introduction of the humanoid robot IRON during the launch event highlights Xiaopeng Motors' focus on integrating advanced robotics into its business model [1][6] - The company plans to produce humanoid robots for commercial applications, such as guiding and shopping assistance, with expectations to scale production by the end of 2026 and target sales of over 1 million units by 2030 [9] - He Xiaopeng noted that the humanoid robots will differ slightly from the current IRON model in terms of height and weight [10]

Core Insights - The 2025 Guangzhou International Auto Show highlights significant changes in the Chinese automotive market, particularly in the areas of electric vehicles (EVs), competition among brands, and technological advancements [2] Group 1: Changes in Market Dynamics - The proportion of new energy vehicles (NEVs) at the auto show increased from 43.7% to 58%, indicating a shift towards electric vehicles as the majority [3] - In the first ten months of 2025, the domestic passenger car market saw a total sales volume of 19.256 million units, a year-on-year increase of 8.0%, with NEVs selling 10.15 million units, up 21.9% [6] - The penetration rate of NEVs reached 40.9% in 2024, with October 2025 marking the first month where the penetration rate exceeded 50% [6] Group 2: Absence of Foreign Brands - Over ten mainstream foreign brands were absent from the auto show, reflecting a decline in their market share and competitiveness in the face of rising domestic brands [7] - Import car sales dropped by 32% in the first nine months of 2025, with total imports expected to be only 700,000 units for the year, a 12% decrease [8] Group 3: Rise of Domestic Brands and New Players - Domestic brands and new entrants like BYD and Leap Motor are gaining significant market share, with Leap Motor's sales increasing by 105.3% year-on-year [9][13] - Huawei has established itself as a key player in the automotive sector, with over 100,000 units sold in collaboration with various car manufacturers [12] Group 4: Technological Advancements and Consumer Trends - The competition among new energy vehicles has intensified, with advanced driving technologies becoming more accessible to consumers, as seen in the pricing of high-end features [16] - Hybrid technology is gaining traction as a practical choice for many brands, reflecting a shift in consumer preferences towards cost-effective and advanced technology [16]

Group 1 - The core viewpoint of the article is that Xiaopeng Motors has officially launched its first range-extended model, the Xiaopeng X9 Super Range Extender, marking a strategic shift towards dual energy technologies, combining pure electric and range-extended technologies [2][4] - Xiaopeng Motors aims to become a "dual-energy" car manufacturer, transitioning from solely developing pure electric technology to incorporating range-extended technology, which is expected to be more suitable for global promotion in the future [4][6] - The company is focusing on the development of range-extended technology and internationalization to seek growth in a competitive market [6] Group 2 - Xiaopeng Motors reported a net loss of 380 million yuan in Q3 2025, 480 million yuan in Q2 2025, and 1.81 billion yuan in Q3 2024, raising concerns about its ability to achieve profitability as promised by the end of Q4 2025 [6] - CEO He Xiaopeng stated that while not guaranteed, the probability of achieving profitability in Q4 2025 is "five nines," or 99.999% [7] Group 3 - The introduction of the humanoid robot IRON during the launch event has drawn significant attention, as it was showcased alongside the Xiaopeng X9 Super Range Extender [2][9] - Xiaopeng Motors is developing a highly humanoid robot designed to be more relatable, with features like muscle and skin, aiming for commercial applications such as guiding and shopping assistance [11][12] - The company plans to scale mass production of advanced humanoid robots by the end of 2026, with a sales target of over 1 million units by 2030 [12]

Core Insights - The Guangzhou Auto Show 2025 opened today, featuring a speech by Xiaopeng Motors' Chairman and CEO He Xiaopeng [1] Group 1: Company Performance - The Xiaopeng X9 Super Extended Range version set a record for daily orders, with northern regions accounting for over 50% of total orders for the first time [3] - Xiaopeng Motors achieved a significant milestone by producing its 1 millionth vehicle, taking only 14 months to reach this figure after the 500,000th vehicle, compared to 82 months for the first 500,000 [3] Group 2: Product Launches - The Xiaopeng P7+ is set to officially launch in overseas markets in January 2026, with three new models planned for international release that year [3] - The recently launched Xiaopeng X9 Extended Range version has a starting price of 309,800 yuan for the 1602Max version and 329,800 yuan for the 1602Ultra version [3]

Core Insights - The Chinese automotive industry is at a critical juncture in 2025, experiencing both rapid growth with domestic brands capturing over 60% market share and facing challenges such as declining profits and intense price wars [2][3] - The theme of the "2025 New Automotive Annual Ceremony" is "Breaking the Old and Establishing the New," focusing on user value, technology, ecosystem, and strategy to navigate the industry's future [3][5] Industry Trends - The automotive sector is transitioning from a growth phase to a competitive landscape, necessitating a shift in strategies to meet user demands and enhance product offerings [10][11] - The integration of AI and advanced technologies is reshaping the automotive experience, with companies emphasizing the importance of user feedback and co-creation in product development [13][14] Technological Innovations - Companies are exploring a dual approach of "software-defined vehicles" and "hardware-locked experiences," with a focus on enhancing user experience through innovative design and technology [6][23] - The rapid iteration of technology requires robust R&D capabilities to ensure safety and reliability in new features, as demonstrated by the significant collision avoidance statistics reported by Li Auto [8] Market Dynamics - The overseas market is becoming increasingly important for Chinese automotive companies, with challenges such as regulatory barriers and cultural differences being addressed through initiatives like NESTA-Global [19] - The emphasis on electric vehicles is clear, with a consensus that pure electric technology will dominate the future, while hybrid and extended-range solutions serve as complementary options [16][17] Notable Achievements - The "2025 New Automotive Annual Ceremony" recognized several companies for their contributions, including Xiaopeng for design, Horizon Robotics for intelligent driving, and AION for manufacturing excellence [24][25]

Core Insights - Xiaopeng Motors has officially launched the Xiaopeng X9 Super Extended Range model, available in Max and Ultra versions, priced at 309,800 yuan and 329,800 yuan respectively [1] Group 1: Vehicle Specifications - The Xiaopeng X9 features a "large fuel tank + large battery" combination, achieving a CLTC comprehensive range of 1602 km and a pure electric range of 452 km [1] - The vehicle has a comprehensive energy consumption of 16.5 kWh/100 km, with a cost per kilometer less than one-third of traditional fuel MPVs [1] - It is equipped with an 800V mixed silicon carbide coaxial electric drive, reducing volume by 30% while achieving 93.5% efficiency under CLTC conditions [1] - The vehicle includes a 63.3 kWh ultra-fast charging lithium iron phosphate extended range battery, supporting 5C+800V ultra-fast charging, allowing for a 313 km range in just 10 minutes [1] Group 2: Safety Features - The Xiaopeng X9 uses a lithium iron phosphate battery pack that meets the new national battery standards effective July 1, 2026, ensuring no fire or explosion during thermal runaway of a single cell for 24 hours [2] - The vehicle's structure meets the five-star safety design standards of both China and Europe, and it is equipped with nine airbags, including specialized safety airbags for zero-gravity seats [2] - It features advanced safety capabilities, including the ability to maintain stability even in extreme conditions such as tire blowouts at speeds of 160 km/h on wet roads [2] Group 3: Interior and Comfort - The interior of the Xiaopeng X9 is designed with Ayous wood material, featuring 27 speakers for surround sound and a 3.6-meter ambient lighting system, along with the industry's first natural light aviation reading lights [3] - All models come standard with 12-way electric adjustments for the driver and passenger seats, zero-gravity space seats for the second row, and heated cushions and backs for the three seats in the third row [3] - The vehicle utilizes a front double-wishbone and rear H-arm all-aluminum suspension system, combined with dual-chamber air springs and Tai Chi hydraulic bushings [3]