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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Shares of USA Rare Earth jumped in extended trading Thursday, after CEO Barbara Humpton told CNBC that the rare earth miner is “in close communication” with the White House.
Humpton’s comment comes after the Trump administration took a 5% equity stake in Lithium Americas this week. The Defense Department took a 15% stake in rare earth miner MP Materials in July.
“We are in close communication with the administration,” Humpton told CNBC’s Morgan Brennan when asked whether USA Rare Earth was interested in a deal with the Trump administration.
USA Rare Earth stock year to date.
USA Rare Earth shares were last up about 8% after hours. Its stock gained 23% in regular trading Thursday and has nearly doubled this year.
“This is a field where it will not be a zero sum game,” Humpton said of the rare earth supply chain. “It’s going to take a lot of players to build out this marketplace.”
USA Rare Earth is developing a mine in Sierra Blanca, Texas, and a magnet production facility in Stillwater, Oklahoma. Humpton said she supports the Trump administration’s deals with MP and Lithium Americas.
“What we’re doing is keeping the administration informed of our own plans,” she said.
The adminstration has said it is making the investments to help support the industry and break U.S. dependence on China.
Environment
Tesla applies for patent to make Cybertruck look even more ridiculous but more efficient
Tesla has applied for a new patent that would make the Cybertruck look even more ridiculous than it already does, but it would also make towing more efficient.
The Cybertruck is one of, if not the most, polarizing vehicles of all time, and its design is primarily to blame.
Much of the design is due to the use of stainless steel panels and the attempt to make pickup trucks more aerodynamically efficient.
Tesla has managed to improve on the drag coefficient of the average pickup truck.
However, it doesn’t help much with towing a trailer, which is going to catch a lot of that drag.
Tesla has now applied for a new patent on a device that would help push wind over a trailer towed by the Cybertruck.
The American automaker wrote in the abstract of the patent application:
An inflatable aerodynamic deflector to reduce drag and enhance efficiency. Constructed from drop stitch material, it forms one or more air chambers between parallel skins. The component includes a pressure regulation mechanism and diverse attachment interfaces such as rail systems, magnetic fasteners, and quick disconnect clips, distributed along the vehicle for secure mounting. This component acts as an aerodynamic deflector, optimizing airflow around conveyances, especially combination vehicles like tow vehicles and trailers.
In short, Tesla is working on an inflatable device that could sit on the bed of the Cybertruck and rise to close the air gap between the truck, thereby extending the angle of the windshield over the trailer.
Here are some of the drawings from the patent application
Electrek’s Take
To be fair, companies often apply for patents on products that they don’t have concrete plans to bring to production, and this could easily be the case here.
That’s especially true for the Cybertruck.
The program is so much smaller than Tesla anticipated, and with smaller volumes, it makes less sense to launch accessories.
That said, I’m pro everything that makes driving more efficient, regardless of whether it makes a vehicle silly.
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The 2026 Hyundai Kona Electric lineup will be offered in a single trim, but at least it’s the most affordable one.
Here’s the new 2026 Hyundai Kona Electric lineup
With the IONIQ 5 stealing the spotlight, Hyundai is downsizing the 2026 Kona Electric to just one trim — the base SE model.
Hyundai didn’t provide prices, but the 2025 Hyundai Kona Electric SE was the brand’s most affordable EV, starting at just $32,975. The SEL, Limited, and N Line trims will not be offered for the 2026 model year.
In another blow, Hyundai is also dropping the Long Range battery, meaning the 2026 Kona Electric will only be available with the Standard Range battery.
The Long Range 64.8 kWh battery offers a driving range of up to 261 miles, while the Standard Range 48.6 kWh battery delivers a driving range of just 200 miles. The only other change is that the SE trim will now include a larger console tray.
With new models arriving, like the 2026 Nissan LEAF and the 2027 Chevy Bolt EV, the Kona Electric will no longer be one of the few EVs starting under $35,000.
Nissan claims the 2026 LEAF “has the lowest starting MSRP for any new EV currently on sale in the US” at just $29,990. The new LEAF also offers significantly more range, with over 300 miles, and features a NACS port for recharging at Tesla Superchargers.
While it’s cutting the Kona Electric lineup, Hyundai appears to be focused on its top-selling EV for 2026, the IONIQ 5.
Following the expiration of the federal EV tax credit, Hyundai reduced prices on the 2026 IONIQ 5 by up to nearly $10,000 on certain trims. The 2026 IONIQ 5 now starts at just $35,000. It’s also extending the $7,500 credit for 2025 models.
Is the Kona Electric on its way out with the IONIQ 5 now available for about the same price? Either that, or Hyundai will have to cut prices on the Kona EV to stay competitive.
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