联手华为，小鹏“补课”增程

Core Viewpoint - Xiaopeng Motors collaborates with Huawei to launch the Xiaopeng X9 Super Range Extender, utilizing a joint R&D model to enhance market competitiveness and strengthen its operational capabilities [1][3]. Group 1: Product Development and Technology - The Xiaopeng X9 features the DriveONE all-in-one high-integration high-voltage oil-cooled generator, which addresses existing pain points in traditional range extender systems [4]. - The generator has a power density of 1.88 kW/kg and a peak power output of 85 kW, supporting a cruising range of 150 km per hour without battery depletion [4]. - Xiaopeng Motors aims to launch multiple super range extender products next year, targeting overseas markets to enhance competitiveness [1][10]. Group 2: Market Context and Competition - The hybrid and range extender market is growing rapidly, with projections indicating that by 2025, these vehicles will account for nearly 50% of the new energy vehicle market [6]. - Sales of plug-in hybrid vehicles in China have increased tenfold from 2020 to 2023, with 480,000 units sold in October 2023 alone, reflecting a 13% month-on-month growth [6]. - The entry of various brands into the high-end MPV market has intensified competition, necessitating differentiation strategies among automakers [7]. Group 3: Financial Performance and Future Plans - In Q3, Xiaopeng Motors reported revenue of 20.38 billion yuan, a year-on-year increase of 101.8%, with a gross margin of 20.1% [8]. - The company aims to achieve breakeven in Q4, with range extender products expected to drive sales growth and improve profitability [9]. - Xiaopeng plans to introduce three super electric range extender products in Q1 next year, followed by four new "dual-energy" models to capture market share [9][10].