Chinese EV maker XPeng Inc ( XPEV ) shares are trading lower premarket on Tuesday. The company reported fiscal fourth-quarter sales growth of 23.4% year-on-year to 16.11 billion Chinese Yuan ($2.21 billion), topping the consensus estimate of 16.02 billion Chinese Yuan. 

Total revenues increased 59.4% sequentially in the quarter. The Tesla Inc ( TSLA )  rival's quarterly vehicle deliveries increased 52.1% Y/Y to 91,507. XPeng's physical sales network had 690 stores, covering 226 cities as of December 31, 2024.

XPeng's ( XPEV ) self-operated charging station network reached 1,920 stations as of December 31, 2024. Revenues from vehicle sales increased 20.0% Y/Y to 14.67 billion Chinese Yuan ($2.01 billion) on higher deliveries.

Gross margin was 14.4% versus 6.2% a year ago. Vehicle margin was 10.0% versus 4.1% a year ago, primarily attributable to the cost reduction. Operating loss for the quarter was 1.56 billion Chinese Yuan ($0.21 billion). 

Adjusted net loss per ADS of 1.47 Chinese Yuan missed the analyst consensus estimate for a loss of 1.35 Chinese Yuan. In USD terms, the adjusted earnings per ADS was a loss of 20 cents in-line with the consensus of 20 cents loss.

The company held $5.75 billion in cash and equivalents as of December 31, 2024.

Read: Tesla Rival XPeng Eyes $13.8 Billion Investment In Humanoid Robots, Says Chinese State Media

Chairman and CEO of XPENG ( XPEV ), Xiaopeng He, highlighted the company’s strategic positioning to expand its market share in the Smart EV sector both in China and internationally.

He emphasized that AI will play a crucial role in advancing L3 and L4 autonomous driving within the automotive industry. The company’s goal is to establish XPENG ( XPEV ) as a globally recognized AI-driven automotive company and a smart technology brand that resonates with users worldwide.

Outlook: XPENG ( XPEV ) projects first-quarter vehicle deliveries between 91,000 and 93,000, reflecting a surge of 317% to 326.8% Y/Y.

The company anticipates revenue of 15 billion Chinese Yuan to 15.7 billion Chinese Yuan, vs. the consensus of 14.684 billion Chinese Yuan.

Investors can gain exposure to the stock via VanEck Low Carbon Energy ETF ( SMOG ) and Invesco WilderHill Clean Energy ETF ( PBW ) .

Price Action: XPEV shares are down 0.49% at $24.44 premarket at the last check Monday.

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