XPENG’s Q4 and full-year 2022 financial report shows that the company delivered a total of 120,000 vehicles in 2022, a year-on-year increase of 23%, with full-year revenue of 26.9 billion yuan, a year-on-year increase of 28%, and cash reserves of 38.3 billion yuan. The net loss for the whole of 2022 was $14.2 billion, compared to a net loss of $750 million in 2021. Non-GAAP net loss was 8.43 billion yuan or approximately $1.29 billion, compared to a net loss of 4.48 billion yuan or approximately $690 million in 2021.
XPENG Chairman He Xiaopeng stated during the Q4 2022 earnings call that XPENG’s second major model of the year, the G6, will be unveiled at the Shanghai Auto Show and officially launched and delivered in mid-year, with a price range of approximately $30,800 to $46,200. After mass production, it is expected to achieve two to three times the sales of the P7. In addition, XPENG will also launch a new pure electric 7-seater MPV in the second half of this year.
He Xiaopeng also said that starting from March, XPENG’s city NGP will accelerate landing in multiple cities and models in Guangzhou, Shenzhen, and Shanghai. Through the city NGP’s OTA, XPENG has become the first automaker in China to mass-produce the Transformer-based BEV time sequence network XNET and achieved significant milestones in the development and application of deep learning algorithms.
He Xiaopeng stated that XPENG will achieve a cost reduction of over 50% for autonomous driving from this year to next year, with a cost reduction of approximately 25% for the entire vehicle hardware (including power systems). At the same time, XPENG will shift from selling software and hardware as a whole to selling them separately, making full autonomous driving a standard feature.
He Xiaopeng also stated that the future of artificial intelligence represented by GPT is huge, and there will be new interpretations of the way to achieve autonomous driving, which can make L4-level autonomous driving quickly move towards L5. He looks forward to more coupling of GPT-related technologies and XPENG’s automotive business.
Through bold organizational structure optimization, the company’s strategy and organizational adjustments have achieved significant results in the first quarter, according to He Xiaopeng. Currently, all of XPENG’s R&D, production, and supply chain systems report directly to He Xiaopeng, while President Wang Fengying is fully responsible for product planning and sales and service systems. Over the next two years, XPENG will further flatten its management of the sales network, strengthen its network layout, and improve the fighting capacity of frontline sales staff.
In response to the recent price war in the auto market, CEO He Xiaopeng responded that the extremely aggressive price war in the past two years is unavoidable, especially for gasoline vehicles facing huge challenges, and gasoline vehicles will definitely fight back. He believes that many automakers will take a more aggressive, market-size-oriented approach. He Xiaopeng mentioned that XPENG will achieve a significant reduction in internal marketing costs and unnecessary R&D costs when the price range of its vehicles drops from the original range of 250,000 to 300,000 yuan to the three ranges of 200,000 yuan (approximately $31,000), 250,000 yuan (approximately $39,000), and 300,000 yuan (approximately $46,000). He stated that in the future, XPENG’s most important goal is to be at the forefront, or even the first, in autonomous driving, and XPENG will also aggressively occupy a higher market position in related pricing.
source：ithome
