Xpeng Inc. (NYSE: XPEV), a Chinese electric vehicle maker, reported increased shipments in May 2021 despite a slowdown in chip production. In May, Xpeng facilities delivered 5,686 vehicles, a 483% increase year over year and a 10 percent increase over April. Xpeng’s performance is good, especially since some of its major competitors report supply cuts due to a global shortage of chips.
A large part of Xpeng’s growth is attributed to its spring-launched P7 electric sedan. This month, Xpeng delivered 3,797 P7 vehicles while also announcing the delivery of 1,883 G3 compact electric crossover vehicles. It is important to note that the P7 and G3 come with lithium-ion and lithium-iron-phosphate battery options.
Xpeng Inc. (NYSE: XPEV) said in its first-quarter financial report that it expects to deliver between 15,500 and 16,000 vehicles in the second quarter. This would generate revenue between 3.4 and 3.5 billion yuan at current prices. A total of 10,883 Vehicles have already been delivered in April and May. It is, therefore, possible that Xpeng may even surpass its forecast if no production disruptions occur in June.
Xpeng vehicles have shipped 13,340 units in the first quarter of 2021, a growth of 487 % from a year earlier. By comparison with the fourth quarter, the company’s growth rate was almost 3%. According to the company’s website, as of March 31, 2021, its sales network consisted of 178 stores and 61 service centers spread across 70 cities. There are currently 172 Xpeng-branded fast chargers in 60 cities.
XPeng Inc. (XPEV) stock gained 1.16% to conclude the last trading session at $35.00. A total of 17.26 million shares were traded on the day, which is lower than the average volume over the last three months of 17.40 million. In the last five days, XPeng Inc. shares have gained 19.13%. However, the shares have gained 20.61% in the past month. Stock prices have increased by 16.55% over the last three months and have declined by 18.28% for the year. Additionally, its price to sales ratio stands at 21.56.