XPeng’s (XPEV) Q1 2025 report details lowest net loss in five years and a record gross margin
EV automaker XPeng Motors shared its unaudited financial report for Q1 2025, and nearly all of its data points to growth and potential as the Chinese brand continues its quest to become globally recognized. As such, XPeng’s predictions for Q2 continue massive year-over-year growth.
Regarding Chinese EV automotive brands, XPeng Motors ($XPEV) is easily one of the more prominent and newsworthy, especially as it continues to globalize, entering new markets such as Italy earlier this month.
As outlined in a December 2024 internal letter from XPeng founder, chairman, and CEO He Xiaopeng, the company has huge goals for 2025 and beyond. In Q1 2025, we’ve already seen XPeng unveil its new G7 SUV and hit 100,000 builds of its new MONA M03 sedan (a Max trim of which was just unveiled yesterday).
So far, so good.
XPeng Motors shared its Q1 2025 financial report today, which provides room for optimism. The automaker’s continued YoY growth and dwindling net losses suggest a positive outlook for the rest of the year.
XPeng’s Q1 report shows 141.5% YoY increase in revenue
The full Q1 2025 report, available from XPeng Motors here, states that the company’s quarterly revenues were RMB 15.81 billion ($2.18 billion), representing an increase of 141.5% compared to Q1 2024. However, that number is slightly down (1.8% compared to Q4 2024).
Similarly, vehicle sales revenues for Q1 were RMB 14.37 billion ($1.98 billion), up 159.2% from the same period of 2024 but down 2.1% from Q4 2024. The vehicle margin, which is the gross profit of vehicle sales as a percentage of quarterly sales revenue, was 10.5%, up from 5.5% in Q1 2024 and 10.0% in Q4 2024.
Per the Q1 2025 report, XPeng’s Gross margin was its highest ever at 15.6%, up from 12.9% in Q1 2024 and 14.4% a quarter ago. One of the key takeaways from today’s report is XPeng’s decreasing net loss. That tally has dropped for three consecutive quarters and as of the end of Q1 2025, sat at RMB 0.66 billion ($91.4 million), compared with RMB 1.37 billion ($189.8 million) for XPeng’s same period in 2024 and RMB 1.33 billion ($184.2 million) for Q4 2024.
XPeng’s total BEV deliveries for Q1 2025 were 94,008 units, representing a YoY increase of 330.8%. XPeng CEO He Xiaopeng spoke about the company’s Q1 report:
Despite seasonality for auto sales, our quarterly deliveries hit a new historical high, making us the top-selling automaker among emerging EV companies. Positive market feedback strengthened our confidence in our three-year product cycle. We remain committed to our steadfast long-term growth strategy and continue to launch more blockbuster products. We are just beginning to unleash our growth potential. I believe our strong product cycle, global expansion and accelerated adoption of physical AI technologies, will fuel strong and sustainable growth for XPeng.
Looking ahead, XPeng Motors expects to deliver between 102,000 and 108,000 EVs in Q2 2025, representing YoY growth between 237.7% and 257.5%. Additionally, the Chinese automaker predicts total revenues for Q2 2025 to be between RMB 17.5 billion ($2.4 billion) and RMB 18.7 billion ($2.6 billion), representing YoY growth between approximately 115.7% and 130.5%.
The company’s new MONA M03 sedan will launch in China on May 28.
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Enbridge is going big on solar again in Texas, and Meta is snapping up all the solar power it can get.
Last month, Electrek reported that the Canadian oil and gas pipeline giant just launched its first solar farm in Texas. Now it’s given the green light to Clear Fork, a 600 megawatt (MW) utility-scale solar farm already under construction near San Antonio. The project is expected to come online in summer 2027.
Once it’s up and running, every bit of Clear Fork’s electricity will go to Meta Platforms under a long-term contract. Meta will use the solar power to help run its energy-hungry data centers entirely on clean energy.
The solar farm project’s cost is around $900 million. Enbridge says it expects Clear Fork to boost the company’s cash flow and earnings starting in 2027.
Enbridge EVP Matthew Akman said the project reflects “growing demand for renewable power across North America from blue-chip companies involved in technology and data center operations.”
Meta’s head of global energy, Urvi Parekh, added that the company is “thrilled to partner with Enbridge to bring new renewable energy to Texas and help support our operations with 100% clean energy.”
Meta’s first multi-gigawatt data center, Prometheus, is expected to come online in 2026.
Clear Fork is part of a growing trend: tech giants like Meta, Amazon, and Google are racing to lock down renewable energy contracts as they expand their fleets of AI-ready data centers, which use massive amounts of electricity.
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A fully electric Japanese electric pickup truck? It’s not a Toyota or Honda, but Isuzu’s new electric pickup packs a punch. The D-MAX EV can tow over 7,770 lbs (3,500 kg), plow through nearly 24″ (600 mm) of water, and it even has a dedicated Terrain Mode for extreme off-roading. However, it comes at a cost.
Meet Isuzu’s first electric pickup: The D-MAX EV
After announcing that it had begun building left-hand drive D-MAX EV models at the end of April, Isuzu said that it would start shipping them to Europe in the third quarter.
By the end of the year, Isuzu will begin production of right-hand drive models for the UK. Sales will follow in early 2026.
Isuzu announced prices this week, boasting the D-MAX EV features the same “no compromise durability” of the current diesel version.
The D-MAX EV pickup features a full-time 4WD system, a towing capacity of up to 3.5 tons (7,700 lbs), and an added Terrain Mode, which Isuzu says is designed for “extreme off-road capability.” With 210 mm (8.3″) of ground clearance, Isuzu’s electric pickup can wade through up to 600 mm (24″) of water.
Powered by a 66.9 kWh battery, Isuzu’s electric pickup offers a WLTP range of 163 miles. With charging speeds of up to 50 kW, the D-MAX EV can recharge from 20% to 80% in about an hour.
The electric version is nearly identical to the current diesel-powered D-Max, both inside and out, but prices will be significantly higher.
| Isuzu D-Max EV specs and prices | |
| Drive System | Full-time 4×4 |
| Battery Type | Lithium-ion |
| Battery Capacity | 66.9 kWh |
| WLTP driving range | 163 miles |
| Max Output | 130 kW (174 hp) |
| Max Torque | 325 Nm |
| Max Speed | Over 130 km/h (+80 mph) |
| Max Payload | 1,000 kg (+2,200 lbs) |
| Max Towing Capacity | 3.5t (+7,700 lbs) |
| Ground Clearance | 210 mm |
| Wading Depth | 600 mm |
| Starting Price (*Ex. VAT) | £59,995 ($81,000) |
Isuzu’s electric pickup will be priced from £59,995 ($81,000), not including VAT. The double cab variant starts at £60,995 ($82,500). In comparison, the diesel model starts at £36,755 ($50,000).
The EV pickup will launch in extended and double cab variants with two premium trims: the eDL40 and V-Cross. Pre-sales will begin later this year with the first UK arrivals scheduled for February 2026. Customer deliveries are set to follow in March.
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In this photo illustration, Claude AI logo is seen on a smartphone and Anthropic logo on a pc screen. (Photo Illustration by Pavlo Gonchar/SOPA Images/LightRocket via Getty Images)
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OpenAI and Anthropic continue to lead a fundraising bonanza in artificial intelligence, raising historic rounds and stratospheric valuations.
But when it comes to finding AI exits for venture firms, the market looks a lot different.
AI startups raised $104.3 billion in the U.S. in the first half of this year, nearly matching the $104.4 billion total for 2024, according to PitchBook. Almost two-thirds of all U.S. venture funding went to AI, up from 49% last year, PitchBook said.
The biggest deals follow a familiar theme. OpenAI raised a record $40 billion in March in a round led by SoftBank. Meta poured $14.3 billion into Scale AI in June as part of a way to hire away CEO Alexandr Wang and a few other top staffers. OpenAI rival Anthropic raised $3.5 billion, while Safe Superintelligence, a nascent startup started by OpenAI co-founder Ilya Sutskever, raised $2 billion.
While Meta’s massive investment into Scale AI amounted to a lucrative exit of sorts for early investors, the overarching trend has been a lot more money going in than coming out.
In the first half, there were 281 VC-backed exits totaling $36 billion, according to PitchBook. That includes the roughly $700 million acquisition of EvolutionIQ, an AI platform for disability and injury claims management, by CCC Intelligent Solutions, and the public listing of Slide Insurance, which builds AI-powered insurance offerings for homeowners. Slide is valued at about $2.3 billion.
“The dominant exit trend right now is frequent but lower-value acquisitions and fewer IPOs with significantly higher value,” said Dimitri Zabelin, PitchBook’s senior research analyst for AI and cybersecurity.
CoreWeave’s IPO, which took place at the very end of the first quarter, was the exception on the infrastructure side. The stock shot up 340% in the second quarter, and the company is now valued at over $63 billion.
Zabelin said the pattern of more investments in applications with smaller deals has been in place for the past year.
“Vertical solutions tend to plug more easily into existing enterprise gaps,” Zabelin said.
The acquisitions wave is being driven, in part, by what Zabelin calls bolt-on deals where larger companies buy smaller startups to enhance their own future valuations, hoping to enhance their value ahead of a future sale or IPO.
“That also has to do with the current liquidity conditions in the macro environment,” Zabelin said.
Outside of AI, activity is slow. U.S. fintech funding dropped 42% in the first half of the year to $10.5 billion, according to Tracxn. Cloud software and crypto have also seen sharp pullbacks.
Zabelin said IPO activity could pick up if economic conditions improve and if interest rates come down. Investors clearly want opportunities to back promising AI companies, he said.
“The appetite for AI, specifically vertical applications, will continue to remain robust,” Zabelin said.
— CNBC’s Kevin Schmidt contributed to this report.
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