According to Qichacha, Guangdong XPeng Automobile Technology Co., Ltd. has officially changed its name to "Guangdong XPeng Automobile Technology Group Co., Ltd." on March 21.

Founded in June 2019 with a registered capital of 40 billion yuan, the company is headed by He Xiaopeng and is a wholly-owned subsidiary of XPeng (Hong Kong) Limited. Its industrial portfolio, centered around Guangzhou Chengxing Intelligent Automobile Technology Co., Ltd. – the listed entity of XPeng Automobile – encompasses diverse sectors such as smart cars, XPeng Hui Tian manned aircraft, and Pengxing intelligent robots.

This renaming signifies the commencement of XPeng Automobile's strategic transformation from a single automobile enterprise into a comprehensive technology group, fueled by technological advancements and business expansion. It opens up more versatile strategic avenues for future capital operations, technological collaborations, and global expansions.

Qichacha Screenshot

The 2024 financial report reveals that XPeng Automobile generated revenue of 40.87 billion yuan, marking a 33.2% year-on-year increase. Net losses were substantially reduced to 5.79 billion yuan, a 44.2% decrease compared to 2023, while the gross margin significantly improved to 14.3%, a 12.8% year-on-year increase.

In sales, XPeng Automobile delivered a total of 190,068 new vehicles in 2024, representing a 34.2% year-on-year growth. Notably, the sales of the MONA M03 and P7+ models surged, becoming key drivers of overall delivery volumes.

For the first quarter of 2025, XPeng Automobile anticipates delivering 91,000 to 93,000 vehicles, reflecting a year-on-year increase of 317% to 326.2%. During the same period, total revenue is expected to range between 15 billion and 15.7 billion yuan, representing a year-on-year growth of 129.1% to 139.8%.

Last August, He Xiaopeng, the founder and chairman of XPeng Automobile, announced plans to rename the company "XPeng AI Automobile Company." He stated, "In the coming decade, XPeng will concentrate on integrating AI technology with large-scale manufacturing, aiming to become a pioneer among AI automobile companies."

This renaming is a pivotal move towards realizing XPeng Automobile's ambition of becoming a "leader in AI automobile companies," hinting at potential new layouts and adjustments in the company's future endeavors.