XPENG(US:XPEV) Hua Er Jie Jian Wen·2025-11-22 01:59Core Viewpoint - Xiaopeng Motors has made a significant turnaround from a struggling position to achieving major milestones, including the production of its one-millionth vehicle, the Xiaopeng X9 Super Range Extender, in just 14 months after reaching 500,000 units [4][5]. Group 1: Production and Sales - The Xiaopeng X9 Super Range Extender was launched at a competitive starting price of 309,800 yuan, significantly lower than the previous expected price range of 350,000 to 370,000 yuan [4][5]. - The X9 features a comprehensive range of 1,602 kilometers and a pure electric range of 452 kilometers, showcasing its competitive edge in both range and technology [5]. - Initial market response has been positive, with the X9 breaking its historical daily order record within the first hour of its launch, particularly strong in northern regions where 79% of orders were for the Ultra version [5][6]. Group 2: Future Product Plans - Xiaopeng plans to introduce seven range extender models next year, with three super range extender models expected to launch in the first quarter of 2026, indicating a robust product pipeline [5][6]. - The company aims to redefine its boundaries from electric vehicles to humanoid robots and other advanced technologies, positioning itself as a global embodied intelligence company [9][10]. Group 3: Market Position and Strategy - Xiaopeng's market capitalization has briefly surpassed that of competitors like Li Auto and Geely, reflecting investor confidence in its recovery and growth trajectory [6][7]. - The CEO emphasizes a long-term vision for the company, focusing on technology, business, globalization, and organizational capabilities to navigate future challenges in the automotive market [8][15]. Group 4: Technological Advancements - The X9 is equipped with advanced computing capabilities, featuring the Turing chip with effective computing power of 750 TOPS for the Max version and 2,250 TOPS for the Ultra version [5][23]. - Xiaopeng is also advancing in humanoid robotics, with the introduction of the IRON robot, which is seen as a key element in the company's re-evaluation and future growth [6][17]. Group 5: Market Challenges and Outlook - The CEO acknowledges the high costs associated with AI training and the need for strategic planning to balance investment and returns in a competitive market [8][26]. - The automotive market is expected to become increasingly competitive and challenging by 2026, with a focus on maintaining a sustainable business model amidst evolving market dynamics [25][26].