XPeng (XPEV), a leading Chinese smart EV manufacturer, released its Q3 2022 earnings Wednesday, missing top and bottom line estimates while offering a less-than-ideal delivery outlook for the rest of the year. Despite this, XPeng stock is racing higher. Let’s see why investors are jumping back in.
Since its foundation in 2015, XPeng has trailblazed its way to becoming a leading electric vehicle maker in the largest EV market globally.
XPeng focuses on delivering “smart EVs,” loaded with leading software and hardware, connectivity features, advanced driver assistance systems, and core vehicle systems. In September 2021, the company began deliveries of its XPeng P5, one of the first mass-produced smart EVS equipped with LIDAR.
The EV maker is building a diverse portfolio of vehicles to fit a wide range of consumer needs, including the following:
G3i – Compact SUV
P7 – Sports sedan
P5 – Family sedan
In addition, XPeng launched its flagship G9 SUV, which began mass deliveries at the end of October. The company believes the G9 will help drive future sales volume with an 800V platform and charging speeds that will “outperform any of its competitors in the market.”
Meanwhile, like many young EV makers, XPeng is absorbing higher costs while trying to manage widening losses. To make matters worse, increasing competition and renewed COVID-19 lockdowns in China are presenting an extra challenge.
In the second quarter, XPeng’s loss widened to $403 million as EV deliveries fell and higher material costs caused gross margins to slip to 10.9%.
XPeng warned EV deliveries would fall further in Q3, indicating between 29,000 and 30,000. With 29,570 total deliveries, the EV maker hit its mark, but not by much. Either way, XPeng stock is soaring today.
XPeng G9 (Source: XPeng)
XPeng Q3 financial and delivery results
Total deliveries in the third quarter hit 29,570, up 15% from Q3 2021, yet Xpeng’s EV sales have continued trending lower since hitting a peak of 41,751 in the fourth quarter of 2021. The deliveries included:
P7 – 16,776
P5 – 8,703
Revenue from vehicle sales reached $880 million, up 14% from Q3 2021 but decreasing 10% from the second quarter. Despite this, the cost of sales increased 20.4% from last year as material prices continue cutting into margins.
XPeng’s gross margins bounced back from 10.9% last quarter to 13.5% in Q3 as the automaker has implemented several measures to boost efficiency. During the company’s third-quarter earnings call, the president of XPeng, Dr. Hongdi Brian Gu, spoke about an internal organization restructuring to cut costs and drive long-term results.
We will implement prudent cost control initiatives and improve operational efficiency. As we plan a number of upcoming product and technology rollouts, we are confident that we can achieve significant improvement in both sales volumes and average selling price.
XPeng compared the current EV race in China to a marathon competition, claiming only the strongest players with “well-rounded capabilities, core technology,” and perhaps most importantly, the ability to “monetize from both hardware and software” will win in the long run.
The aim is to be “more concentrated and efficient” to drive future profitability and competitiveness. (Rivian’s CEO also spoke on this.)
Despite the company’s best efforts, XPeng’s loss widened to $330 million (RMB2.38 billion) from around $224 million (RMB1.59 billion) last year as the company scales production. Xpeng issued the following guidance for Q4:
EV deliveries: Between 20,000 and 21,000
Revenue: Between RMB4.8 and RMB5.1 billion
The downbeat outlook is due to renewed lockdowns in China causing ongoing supply chain disruptions while ramping production of its flagship G9 SUV.
Why is XPeng stock trending
Even with the cautious guidance, XPeng stock is up over 40% today. For one thing, XPeng’s cost-cutting measures are good news. Maintaining efficiency through the production ramp will be critical to the company’s success.
Gu says the effects of XPeng’s internal restructuring will likely become visible in the second half of 2023 when he also expects the EV market to accelerate further. The stock market is forward-looking and could be looking past short-term hurdles.
Management also noted that, although a slowdown is expected this month, December should see sales rebound “sharply” as we roll into the new year.
Lastly, protests have erupted in China over the fresh “zero-Covid” mandates that may be sparking hope for an eased policy, with several Chinese EV stocks trending higher today.
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Considering that the Cybertruck has turned out to be a commercial flop and Tesla is currently experiencing issues selling it, despite reduced production, the automaker could benefit from a Cybertruck order from the US military.
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It looks like it is about to get one.
According to new documents first obtained by ‘The War Zone‘, the U.S. Air Force Test Center (AFTC) is looking to acquire 33 target vehicles—including two Tesla Cybertrucks—for delivery to the White Sands Missile Range (WSMR) in New Mexico,
The list of requested vehicles includes various sedans, pickups, SUVs, and bongo trucks, but there are no specific brand requirements for those, except for the Cybertrucks.
They plan to use these vehicles as targets for precision-guided weapons. Why would they need a specific vehicle such as the Cybertruck?
In the document, they had to explain the reason behind requesting a vehicle from a specific brand. They wrote:
[Redacted] intends to use specific Tesla manufactured vehicles for target vehicle training flight test events. In the operating theatre it is likely the type of vehicles used by the enemy may transition to Tesla Cyber trucks as they have been found not to receive the normal extent of damage expected upon major impact. Testing needs to mirror real world situations. The intent of the training is to prep the units for operations by simulating scenarios as closely as possible to the real world situations.
It sounds like the justification is that the US military believes that its enemies might start using the Tesla Cybertruck, and it wants to make sure its weapons work on it.
Here’s the document in question:
Electrek’s Take
That’s pretty funny. The US military is buying Tesla Cybertrucks to use as targets to shoot missiles at because they think enemies might start using them.
The jokes write themselves. You read that headline, and you would think that it’s Trump trying to get back to Musk by literally blowing up his dumpster of a truck.
However, the most astonishing aspect is that the US military is not wrong here.
Now, less than a year later, the US military wants to ensure it is equipped to take down Cybertrucks.
Anyway, good for Tesla. It needs all the Cybertruck sales it can get, considering it is currently selling them at a rate of 20,000 per year when Musk aimed for 500,000 a year.
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The Genesis Electrified G80 will no longer be sold in the US. Genesis has already pulled the luxury EV sedan from its website.
Genesis pulls the Electrified G80 EV from its US lineup
The Electrified G80 went on sale in the US in the first half of 2023, but has struggled to gain any momentum. Last year, Genesis introduced an updated model with longer range, more interior space, and added luxury, claiming it’s now at the flagship level.
Those in the US may never get to see it. Genesis has already removed the Electrified G80 from its website, with only the GV60 and Electrified GV70 now listed.
The luxury car maker confirmed to Car and Driver on Wednesday that the electric G80 sedan is no longer being offered in North America.
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Genesis explained that “the customer is at the core of every decision we make, and we remain flexible as we adapt to ever-changing consumer needs and market conditions.”
Genesis Electrified G80 updated model (Source: Hyundai)
The 2024 Electrified G80 was the final model year, and the 2025 version was never sold in the US. Powered by an 87 kWh battery, the Electrified G80 was rated with an EPA-estimated range of 282 miles. Although the updated model boasted a larger battery (94.5 kWh) with increased range (up to 295 miles) in Korea, it still falls short of rivals like the Lucid Air or Tesla Model S.
Genesis sold just 397 models in 2024 and another 77 in the first half of 2025. In comparison, Lucid sold over 5,000 Air sedans in H1, while Tesla has sold 2,715 Model S sedans in the US.
The interior of the new Genesis Electrified G80 update (Source: Hyundai)
Although Korean automakers, including Hyundai, Kia, and Genesis, dodged the maximum 25% tariff, they will still face a 15% duty on imported vehicles. As its slowest-selling EV, it’s no surprise to see Genesis dropping it from its lineup.
With the $7,500 federal tax credit expiring at the end of September, Genesis is pushing big discounts on its remaining EV models.
Genesis is offering an $18,000 EV Lease Bonus on the 2025 Electrified GV70 and $13,750 bonus for the 2025 GV60. Leases currently start as low as $389 per month.
Looking to test one out for yourself? You can use our links below to view 2025 Genesis GV60 and Electrified GV70 models in your area.
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While larger solar generator setups can help through many situations, more and more people are finding convenience in owning smaller backup power solutions, especially here in NYC, with many folks having limited space to keep them. That’s where units like Bluetti’s Elite 30 V2 Portable Power Station come in, which offers a 288Wh LiFePO4 capacity to cover personal device charging with 600W of steady output that can ramp as high as 1,500W.
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Bluetti’s Elite 30 V2 power station has nine different port options to cover all the bases: two AC outlets, two USB-C ports, two USB-A ports, two DC ports, and a car port. It even beats out many counterparts/competitors of the same size range with five ways to recharge its battery: via a standard outlet, utilizing up to a max 200W solar input, using both an outlet and solar panels together, connecting a generator, or using your car’s auxiliary port.
Segway’s Ninebot F3 smart eKickScooter with Apple Find My + proximity locking gets first post-tariff cut to $750
Segway is offering a special promotional discount through August 17 on its new Ninebot F3 Electric KickScooter at $749.99 shipped, after using the code F3AUG100OFF at checkout, which beats out Amazon’s pricing by $50.This model launched back in April carrying a $850 original price tag (which Amazon still keeps it listed for) and has since hiked up to a $1,000 MSRP direct from the brand after May’s tariff hikes. The two pre-tariff discounts we saw took the costs down to $700 and $600 back in April, and while it may not be falling that low any anytime soon again, you’re still looking at a solid $100 savings from its starting rate for the third-lowest price we have tracked.
NIU drops the KQi 300X all-terrain e-scooter with a 37-mile range and regen brakes to $750 in latest sale
NIU has launched its Fan-tastic Day Sale through August 17 that is taking up to 42% off its KQi e-scooter lineup. Some of the brand’s models are still out of stock from last month, but among those still available, we spotted the KQi 300X All-Terrain Suspension Electric Scooter at $749.99 shipped, while also matching in price at Amazon. While it carries a $1,299 MSRP normally, at Amazon we’ve been seeing it mostly staying between $1,049 and $1,198, with discounts having been slowly ramping up over the course of the year. You’re looking at the best price of 2025, which saves you $549 off the MSRP and has only been beaten out by the $731 low we last saw pop up in October 2024.
Add commercial-grade power to your arsenal with Greenworks’ 82V 20-inch cordless chainsaw at a new $430 low
Amazon is now offering the Greenworks Commercial 82V 20-inch Cordless Chainsaw for $429.99 shipped. While it carries a $600 MSRP tag directly from the brand, where it’s currently priced at, we’ve seen it keep lower to $500 at Amazon. It’s been on the market for six months now, with the discounts we’ve spotted only taken the costs down to $450 until today. Now, with the 20% markdown here, you’ll save $70 while equipping your arsenal with commercial-grade power.
Keep uniform lines around yard and gardens with Worx’s 12A 7.5-inch edger/trencher at $90 (Today only)
As part of its Deals of the Day, Best Buy is offering the Worx 12A 7.5-inch Edger/Trencher for $89.99 shipped, with this model being out of stock on Amazon and sitting at a higher $140 MSRP directly from Worx’s website. It normally fetches $130 at full price here, with discounts mostly keeping the costs between $110 and $100 during 2025, though we have seen it go as low as $75 during Prime Day. You’re looking at the fourth-lowest overall price that we have tracked and the third-lowest of the year, with the deal today saving you $40 off the going rate for the rest of the day only.
The savings this week are also continuing to a collection of other markdowns. To the same tune as the offers above, these all help you take a more energy-conscious approach to your routine. Winter means you can lock in even better off-season price cuts on electric tools for the lawn while saving on EVs and tons of other gear.