XPeng Posts Narrower Quarterly Loss and Guides for Revenue Growth
By Sherry Qin
XPeng's quarterly net loss narrowed on sharply higher revenue, and the Chinese electric-car maker forecast continued revenue growth in the first quarter amid efforts to turn profitable this year.
The Guangzhou, China-based electric-vehicle maker said Tuesday that its fourth-quarter net loss was 1.35 billion yuan ($187.5 million), narrowing from CNY2.36 billion in the year-earlier period, thanks to a jump in revenue on stronger deliveries.
Quarterly revenue more than doubled from a year earlier to CNY13.05 billion, which the company attributed to accelerating sales growth of the G6 and the G9.
XPeng delivered 60,158 vehicles in the quarter, more than doubling from a year earlier.
The company said it expects first-quarter deliveries to be between 21,000 units and 22,500 units and guided for a 44%-54% rise in total revenue to between CNY5.8 billion and CNY6.2 billion.
Write to Sherry Qin at sherry.qin@wsj.com
(END) Dow Jones Newswires
March 19, 2024 06:43 ET (10:43 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.-
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