Xpeng's gross margin for the second quarter was 14%, the fourth consecutive quarterly increase, compared to -3.9% in the same period last year and 12.9% in the first quarter of this year. The company attributed the gross margin improvement to the realization of technology cost reductions as well as technology realization revenues from the Volkswagen strategic partnership.

According to data from CPCA, wholesale sales of new energy passenger vehicles in China reached 800,000 units in April, a year-on-year increase of 33% and a slight decrease of 2% compared to the previous month.