Just now, XPeng’s 2023Q1 financial report conference call has ended – the following is the main content of XPeng’s management in the financial report conference call, and we have edited it without changing the original intention.
Q: What is the pricing strategy for XPeng G6 and subsequent products?
A: Due to the fluctuations in the price of lithium carbonate materials and intense industry competition, we adopt a scale-first balanced pricing approach. However, we will strive to maintain price stability after the announcement – overall, we emphasize the priority of scale.
Q: What is the supply chain situation for XPeng G6?
A: G6 will start delivery in July after being launched in June. The ramp-up speed of G6 in the third quarter will far exceed that of G9, and we also expect G6 to quickly deliver a large volume in the third quarter. In addition, the integrated die-casting technology used by G6 has undergone more than a year of testing, and the yield rate is in line with expectations, which will not cause a bottleneck in production capacity increase.
Q: Will XPeng maintain last year’s sales growth target?
A: This year, we still expect sales growth. With the delivery of new products, we expect to achieve a monthly delivery volume of 15,000 units in the third quarter and over 20,000 units in the fourth quarter.
Q: What adjustments have been made to the sales level since Wang Fengying joined the company?
A: Wang Fengying has been at XPeng for four months, and has made adjustments to various aspects of the company. For example, at an organizational level, combining automotive trade and sales into one, transforming the large middle platform into a small front desk; at the same time, integrating service teams, improving marketing efficiency, and promoting internal flat management; there are also corresponding changes in sales and channel aspects.
Q: What is XPeng’s expectation for the price of lithium battery raw materials?
A: Overall, it is difficult to judge fluctuations in lithium battery prices. At present, this round of lithium battery raw material price increases seems temporary, and a subsequent decline is expected. I personally think that a reasonable price for battery-grade lithium carbonate is within 200,000 per ton.
Q: What is the current situation of XPeng’s XNGP?
A: In fact, XNGP is in the process of moving towards urban scenarios, and its performance and realization difficulty in high-speed scenarios are incomparable. In the absence of mapping data, any company takes at least twelve months from conducting urban gray tests to becoming functional. Therefore, we are more confident that XPeng is twelve months ahead of other competitors in XNGP.
Currently, XPeng has sufficient initialization data needed for the development of XNGP. Of course, the presence of more cars on the road is useful for car companies’ data validation in intelligent driving, but we have not seen a turning point yet.
Q: What kind of expectations does XPeng have for sales performance in the fourth quarter?
A: In short, we expect G6 to reach twice the sales volume of P7, which is a reasonable level; at the same time, G9’s sales volume will be higher than it is now.
Q: What is XPeng’s product matrix and plan for 2025?A: We will still be thinking about our products from the same platform, and by 2025, there will be approximately ten models. Our main product focus will be in the range of ¥200,000 to ¥300,000; however, we will also have some offerings above ¥300,000 and below ¥200,000.
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