XPENG(US:XPEV) Xin Lang Ke Ji·2025-07-09 00:22Core Viewpoint - The recent issues with the Xiaopeng P7+ regarding steering failures have raised significant concerns among early adopters, highlighting potential design flaws and inadequate responses from the company [2][4][15]. Group 1: Product Issues - Numerous early adopters of the Xiaopeng P7+ have reported steering failures, with some experiencing complete steering loss while driving at high speeds, posing serious safety risks [2][8]. - The steering mechanism's waterproof design is reportedly flawed, leading to water ingress and subsequent short circuits in the steering system [4][12]. - Affected customers have formed a large group advocating for the recall of defective steering mechanisms and the replacement with new models [12][14]. Group 2: Company Response - Xiaopeng has not publicly addressed the steering issue, and service center staff have confirmed that similar problems have occurred with the P7+ [2][12]. - Current repair practices involve applying a structural adhesive to the steering mechanism, which is not specifically designed for waterproof sealing, raising concerns about its effectiveness [4][6]. - Customers have expressed dissatisfaction with the company's handling of the situation, feeling that they are being left to gamble on the reliability of their vehicles [13][15]. Group 3: Regulatory Context - According to the "Automobile Three Guarantees" regulations, consumers can request a replacement or refund for vehicles with significant defects within 60 days or 3,000 kilometers of purchase [12][14]. - If the same issue requires repair more than five times, consumers are entitled to a vehicle replacement [14]. - Many early adopters may have surpassed the initial warranty period, complicating their ability to seek replacements or refunds [14][15]. Group 4: Financial Performance - Despite the current challenges, Xiaopeng has seen a significant increase in vehicle deliveries, with a reported 330.8% year-on-year growth in the first quarter, totaling 94,000 vehicles [15]. - The company's revenue for the first quarter reached 15.81 billion yuan, a 141.5% increase year-on-year, although it still reported a net loss of 660 million yuan, narrowing by 51.5% [15].