XPeng (NYSE:XPEV) CEO Xiaopeng He said late last week that the Chinese EV maker made its 500,000th vehicle.
What Happened: "XPENG's 500,000th Smart EV has rolled off the line!" the CEO announced on social media platform X, formerly Twitter. The CEO also added that it produced 10,000 units of the Mona M03 all-electric hatchback coupe in just 22 days after its launch in late August.
XPeng has been scaling sales through the course of the year, despite lagging behind its peers such as Li Auto.
In the eight months ended August, XPeng delivered 77,209 EVs, marking an increase of 17% from the corresponding period last year.
Why It Matters: In the second quarter alone, XPeng delivered 30,207 EVs and accrued a net loss of $0.18 billion and total revenue of $1.12 billion.
The EV maker, however, is yet to turn a profit.
The company launched the Mona M03 late last month in China, with a starting price of RMB 119,800 ($17,025). Its more premium variant starts at RMB 155,800 ($22,141), still lower than Tesla Inc.'s cheapest offering- the Model 3- which starts at over RMB 200,000.
Photo courtesy: Xpeng
