12:11 PM EDT, 05/21/2025 (MT Newswires) -- XPeng ( XPEV ) reported first-quarter revenue above market expectations on Wednesday, while the Chinese electric vehicle manufacturer issued an outlook for vehicle deliveries to grow by more than 200% annually in the ongoing three-month period.

The company expects to deliver between 102,000 and 108,000 vehicles in the second quarter, reflecting a year-over-year increase of about 238% to 258%. It delivered 94,008 vehicles in the previous quarter, representing a roughly 331% jump from the prior-year period.

"Despite seasonality for auto sales, our quarterly deliveries hit a new historical high," Chief Executive Xiaopeng He said in a statement. "I believe our strong product cycle, global expansion and accelerated adoption of physical (artificial intelligence) technologies, will fuel strong and sustainable growth for Xpeng ( XPEV )."

For the current quarter, the EV maker expects revenue in a range of 17.5 billion renminbi ($2.43 billion) to 18.7 billion renminbi, while the Street is looking for 17.02 billion renminbi. The guidance implies annual growth of about 116% to 131%, the company said.

For the three months through March, revenue soared to 15.81 billion renminbi from 6.55 billion renminbi a year earlier, topping market expectations for 15.1 billion renminbi. The company reported an adjusted loss of 0.45 renminbi per American depositary share, narrowing from a 1.49 renminbi loss the year before. Five analysts polled by FactSet expected a per-share loss of 1.30 renminbi.

XPeng's ( XPEV ) New York Stock Exchange-listed ADRs soared 12% in midday trading.

Vehicle sales climbed 159% to 14.37 billion renminbi mainly due to higher deliveries.

"We have made significant improvements in cost reduction," co-President Hongdi Brian Gu said. "Our vehicle gross margin increased for seven consecutive quarters."

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