XPeng reports surge in Smart EV deliveries in March By Investing.com

XPeng Inc. (NYSE: NYSE:) has disclosed a significant surge in its electric vehicle (EV) deliveries for March 2024, marking a robust start to the year. The Chinese electric vehicle manufacturer delivered 9,026 Smart EVs in March, which is nearly double the number from the previous month and represents a 29% increase compared to the same month last year.

This performance is partly attributed to the strong sales of the XPENG X9, the company’s all-electric Multi-Purpose Vehicle (MPV), which led its category in China with 3,946 units delivered in March. Since its launch, nearly 8,000 X9 units have been delivered. In total, XPENG delivered 21,821 Smart EVs during the first quarter of 2024, marking a 20% increase from the first quarter of the previous year.

In addition to its delivery milestones, XPENG reported that the monthly active user penetration rate of its XNGP, an advanced driver-assistance system (ADAS), reached 82% in urban driving scenarios. The company has expanded the availability of the unlimited XNGP function to more experienced ADAS users across China. It is also extending the XNGP nationwide routes, which have been subjected to multiple rounds of safety testing, aiming to enhance the overall user experience.

Expanding its global footprint, XPENG announced strategic partnerships with leading car dealer groups in Thailand, Singapore, and Malaysia in March, setting the stage for the introduction of its right-hand drive G6 model. The company also made strides into the European market, officially entering Germany with the launch edition of the G9 SUV and the P7 sedan. These efforts are part of a larger strategy to penetrate additional global markets, including France, Italy, and the UK.

Looking ahead, XPENG is gearing up to reveal its new brand at the upcoming Auto China Show in Beijing, which will take place later this month.

This information is based on a press release statement from XPENG and reflects the company’s latest developments as reported in their recent SEC filing.

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