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Chinese EV maker XPeng Motors (XPEV) released its second-quarter earnings Friday, showing a rebound in revenue but record losses. Meanwhile, the recently launched XPeng G6, viewed as a Tesla Model Y rival, is already “turbocharging” sales growth.

XPeng (XPEV) losses grow in Q2, despite higher revenue

XPeng delivered 23,205 vehicles in the second quarter, up 27.3% from the first three months of the year but still down 36% from last year.

After peaking in the fourth quarter of 2022, XPeng’s revenue has nearly consistently fallen quarter-over-quarter, yet the EV maker saw a rebound in Q2.

XPeng’s revenue climbed 25% QoQ to RMB 5.06 billion (roughly $700,000) in Q2, but that’s still down 31% from last year. Furthermore, the EV maker’s gross margins fell back into negative territory (-3.9%) compared to 10.9% last year and 1.7% from the first quarter. Vehicle margin also fell to (-8.6%).

As a result, XPeng posted its largest loss of RMB 2.80 billion ($385,000) since going public in August 2020.

The growing losses come as XPeng faces stiff competition with EV makers like BYD, Tesla, NIO, and others in its home market.

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XPeng Q2 2023 financial highlights (Source: Business Wire)

XPeng slashed prices on its most popular EVs in January following drastic price cuts from Tesla that triggered an “EV price war,” which is a primary reason for the growing losses.

Tesla just cut prices again on its Model Y and Model 3 in China this week, putting further pressure on EV makers like XPeng with rival EVs.

Tesla Model Y rival XPeng G6 Coupe SUV to boost sales

Despite the record loss, XPeng remains hopeful that its G6 Coupe SUV will help boost sales and margins as a Tesla Model Y competitor. XPeng launched the G6 in late June, priced between RMB 200,000 ($28,500) and RMB 276,900 ($38,000) with up to 469 miles CLTC range.

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Xpeng G6 (Source: XPeng)

Compared to the Model Y, priced between 263,900 yuan ($36,000) and 349,900 yuan ($48,000) with up to 338 miles (545 km) CLTC range, the XPeng G6 may have a market. He Xiaopeng, chair and CEO of XPENG, stated:

XPENG G6, our first strategic model built on SEPA 2.0, has quickly become one of the best-selling models following its official launch in June, turbocharging our sales growth momentum. I believe the success of the G6 is just the beginning and moving forward, a wider range of SEPA2.0-enabled models will be brought to our customers.

XPeng expects to deliver between 39,000 and 41,000 in the third quarter, representing an increase of nearly 40%. The company delivered 11,008 vehicles in July, meaning it sees deliveries reaching between 27,992 and 29,992 over the next two months.

Meanwhile, XPeng anticipates revenue to continue trending upward, projecting between RMB 8.5 billion ($1.17 billion) and RMB 9 billion ($1.2 billion) in Q3.

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Day 1 of the Electrek Formula Sun Grand Prix 2025 [Gallery]

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Day 1 of the Electrek Formula Sun Grand Prix 2025 [Gallery]

Today was the official start of racing at the Electrek Formula Sun Grand Prix 2025! There was a tremendous energy (and heat) on the ground at NCM Motorsports Park as nearly a dozen teams took to the track. Currently, as of writing, Stanford is ranked #1 in the SOV (Single-Occupant Vehicle) class with 68 registered laps. However, the fastest lap so far belongs to UC Berkeley, which clocked a 4:45 on the 3.15-mile track. That’s an average speed of just under 40 mph on nothing but solar energy. Not bad!

In the MOV (Multi-Occupant Vehicle) class, Polytechnique Montréal is narrowly ahead of Appalachian State by just 4 laps. At last year’s formula sun race, Polytechnique Montréal took first place overall in this class, and the team hopes to repeat that success. It’s still too early for prediction though, and anything can happen between now and the final day of racing on Saturday.

Congrats to the teams that made it on track today. We look forward to seeing even more out there tomorrow. In the meantime, here are some shots from today via the event’s wonderful photographer Cora Kennedy.

Stay tuned for more!

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Tesla sold 5,000 Cybertrucks Q2, Optimus is in chaos, plus: the Infinity Train!

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Tesla sold 5,000 Cybertrucks Q2, Optimus is in chaos, plus: the Infinity Train!

The numbers are in and they are all bad for Tesla fans – the company sold just 5,000 Cybertruck models in Q4 of 2025, and built some 30% more “other” vehicles than it delivered. It just gets worse and worse, on today’s tension-building episode of Quick Charge!

We’ve also got day 1 coverage of the 2025 Electrek Formula Sun Grand Prix, reports that the Tesla Optimus program is in chaos after its chief engineer jumps ship, and a look ahead at the fresh new Hyundai IONIQ 2 set to bow early next year, thanks to some battery specs from the Kia EV2.

Prefer listening to your podcasts? Audio-only versions of Quick Charge are now available on Apple PodcastsSpotifyTuneIn, and our RSS feed for Overcast and other podcast players.

New episodes of Quick Charge are recorded, usually, Monday through Thursday (and sometimes Sunday). We’ll be posting bonus audio content from time to time as well, so be sure to follow and subscribe so you don’t miss a minute of Electrek’s high-voltage daily news.

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Drop us a line at tips@electrek.co. You can also rate us on Apple Podcasts and Spotify, or recommend us in Overcast to help more people discover the show.


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Tesla launches Oasis Supercharger with solar farm and off-grid batteries

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Tesla launches Oasis Supercharger with solar farm and off-grid batteries

Tesla has launched its new Oasis Supercharger, the long-promised EV charging station of the future, with a solar farm and off-grid batteries.

Early in the deployment of the Supercharger network, Tesla promised to add solar arrays and batteries to the Supercharger stations, and CEO Elon Musk even said that most stations would be able to operate off-grid.

While Tesla did add solar and batteries to a few stations, the vast majority of them don’t have their own power system or have only minimal solar canopies.

Back in 2016, I asked Musk about this, and he said that it would now happen as Tesla had the “pieces now in place” with Supercharger V3, Powerpack V2, and SolarCity:

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All of these pieces have been in place for years, and Tesla has now discontinued the Powerpack in favor of the Megapack. The Supercharger network is also transitioning to V4 stations.

Yet, solar and battery deployment haven’t accelerated much in the decade since Musk made that comment, but it is finally happening.

Last year, Tesla announced a new project called ‘Oasis’, which consists of a new model Supercharger station with a solar farm and battery storage enabling off-grid operations in Lost Hills, California.

Tesla has now unveiled the project and turned on most of the Supercharger stalls:

The project consists of 168 chargers, with half of them currently operational, making it one of the largest Supercharger stations in the world. However, that’s not even the most notable aspect of it.

The station is equipped with 11 MW of ground-mounted solar panels and canopies, spanning 30 acres of land, and 10 Tesla Megapacks with a total energy storage capacity of 39 MWh.

It can be operated off-grid, which is the case right now, according to Tesla.

With off-grid operations, Tesla was about to bring 84 stalls online just in time for the Fourth of July travel weekend. The rest of the stalls and a lounge are going to open later this year.

Electrek’s Take

This is awesome. A bit late, but awesome. This is what charging stations should be like: fully powered by renewable energy.

Unfortunately, it will be much harder to open those stations in the future due to legislation that Trump and the Republican Party have just passed, which removes incentives for solar and energy storage, adds taxes on them, and removes incentives to build batteries – all things that have helped Tesla considerably over the last few years.

The US is likely going to have a few tough years for EV adoption and renewable energy deployment.

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