Hua Er Jie Jian Wen·2025-05-21 17:40Core Viewpoint - Xiaopeng Motors has achieved significant growth in Q1 2025, becoming the top seller among new energy vehicle manufacturers both domestically and internationally, while making substantial advancements in AI and smart technology integration [1][3]. Sales Performance - In Q1 2025, Xiaopeng delivered 94,008 vehicles, marking a year-on-year increase of 331%, setting a new record for quarterly deliveries [3]. - The company expects Q2 2025 deliveries to reach between 102,000 and 108,000 units, representing a year-on-year growth of approximately 237.7% to 257.5% [8]. - Xiaopeng's overall gross margin reached a historical high of 15.6% in Q1 2025, with a significant reduction in net losses and over 3 billion yuan in free cash flow [3]. Technological Advancements - Xiaopeng has successfully developed its self-researched Turing chip, which is set to be mass-produced in Q3 2025, with claims of having 3 to 7 times the computing power of current mainstream automotive AI chips [7][8]. - The company is advancing towards L3 and L4 autonomous driving capabilities, with plans to launch a comprehensive AI model for automotive applications in 2025 [13][14]. Product Development - The MONA M03 has become the best-selling A-class electric sedan, with over 100,000 units delivered within eight months of its launch [4]. - New models, including the G7 and an upgraded P7, are set to be released in 2025, with the "Kunpeng" super electric vehicle expected to enter mass production in Q4 2025 [10][11]. AI Strategy - Xiaopeng is focusing on a comprehensive AI transformation, with initial successes across various domains, including AI-assisted driving, smart cockpit technology, and humanoid robots [6][21]. - The company aims to create a closed-loop AI system that integrates vehicles and humanoid robots, with the latter expected to be launched in 2026 [7][21]. Global Expansion - Xiaopeng's overseas sales surged by over 370% in Q1 2025, positioning it as the leading exporter of mid-to-high-end new energy vehicles from China [12]. - The company plans to expand its global presence significantly over the next three years, establishing over 40 new overseas stores [12].