36氪·2025-03-19 13:07Core Viewpoint - Xiaopeng Motors is on a recovery path with significant sales growth, aiming for profitability by Q4 2025, driven by new model launches and a shift towards more affordable pricing strategies [2][7][8]. Financial Performance - In 2024, Xiaopeng sold 190,000 vehicles, generating revenue of 40.87 billion yuan [4]. - Q4 2024 saw sales of 91,500 vehicles and revenue of 16.11 billion yuan, marking a 96.6% increase in sales compared to Q3 [5]. - The gross margin improved to 10% in Q4 from 8.6% in Q3, with cash and equivalents reaching 41.96 billion yuan, an increase of over 6 billion yuan from Q3 [6]. - The net loss for Q4 was 1.33 billion yuan, a reduction from 1.81 billion yuan in Q3, with a total annual loss of 5.79 billion yuan [6]. Strategic Developments - Xiaopeng's service revenue reached 5.04 billion yuan, up 89% from 2.67 billion yuan in 2023, attributed to technology collaborations with major partners [6]. - The introduction of the MONA M03 and P7+ models has significantly boosted sales, with the former accounting for nearly half of Xiaopeng's monthly sales in February [6]. Competitive Landscape - Xiaomi Motors, in its first year, reported revenue of 38.2 billion yuan from selling 136,800 vehicles, with a gross margin of 18.5% but a net loss of 6.2 billion yuan [10][11]. - Xiaomi's strategy focuses on high-end branding, contrasting with Xiaopeng's shift towards a more mainstream and affordable "Redmi" approach [13][19]. Market Positioning - Xiaopeng's average vehicle price decreased from 254,000 yuan to 160,300 yuan, influenced by the increased sales of the MONA M03 [22]. - The company plans to expand its product lineup across various price segments, aiming to cover a broader market from compact to large vehicles by the end of 2026 [28]. Future Outlook - Xiaopeng aims for a sales target of 91,000 to 93,000 vehicles in Q1 2025, with revenue projected between 15 billion and 15.7 billion yuan [24]. - The company is focusing on AI integration in vehicles and plans to scale production of its self-developed Turing chip for various applications [30]. - By 2025, Xiaopeng targets to double its sales volume and establish over 300 sales and service outlets globally [31].