Xpeng reported unaudited second-quarter revenue of 19.74 billion yuan, up 8.0% year on year and 51.5% from the prior quarter, landing near the lower end of its guidance range. Gross margin improved to 20.7%. Net loss widened to 1.34 billion yuan, up 179% from a year earlier but narrower than the first quarter, while non-GAAP net loss was 1.24 billion yuan.

Xpeng delivered 38,027 vehicles globally in July 2024, up 3.57% year on year but down 5.23% from June. Deliveries for the first seven months totaled 204,004 units, down 12.78% from a year earlier. The company’s new lower-priced SUV, the Mona L03, debuted globally in Munich on July 16 and began first deliveries on July 22, but the production ramp has yet to materially lift monthly volumes. The update reflects operating momentum at a new-energy vehicle maker and is directly relevant to XPEV’s U.S.-listed shares, with no direct link to traditional assets such as SUS or ONUS.

The European Commission is preparing to impose countervailing duties on plug-in hybrid vehicles (PHEVs) imported from China in the coming weeks. The plan would extend the EU’s trade barriers beyond battery electric vehicles (BEVs), which have faced additional tariffs since October 31, 2024. PHEVs currently face only the standard 10% import tariff, while BEVs are subject to manufacturer-specific add-on rates of 17% to 35.3%, according to Handelsblatt.