Chinese smart electric vehicle provider XPeng Inc. (XPEV) announced its Q1 results. Total vehicles delivered by the company jumped about 487% to 13,340 from 2,271 in the corresponding period of the previous year. On the back of deliveries of the P7 model, total revenue increased 616.1% year-on-year to $450.4 million and came in ahead of consensus estimates of $441.24 million. Importantly, XPeng’s gross margin expanded sequentially to 11.2% from last quarter's 7.4%. The company had a negative gross margin of 4.8% in the same period last year. Net loss per share came in at $0.13, which was lower than the estimated net loss per share of $0.17.
https://www.tipranks.com/news/xpengs-quarterly-revenue-jumps-6x-vehicle-deliveries-up-almost-5x