XPENG Q2 FY26 earnings call XPEV

XPeng Robotics secured over USD 900 million in its first financing round at a USD 6.2 billion post-money valuation, led by IDG Capital with strategic support from Tencent and Alibaba. This funding, a new private financing record in China's humanoid robotics industry, will support the mass production and continued development of the advanced general-purpose humanoid robot, IRON. Co-Founder, Chairman, and CEO He Xiaopeng has also taken on the role of CEO for the robotics business, aiming to leverage XPeng's full-stack R&D, supply chain, and automotive-grade manufacturing capabilities to build the world's most valuable humanoid robot company.

XPeng IRON features an industry-leading human-like design with 76 degrees of freedom across the body and 21 degrees of freedom in each hand, powered by three touring AI chips delivering 2,250 TOPS. It runs XPeng's physical AI foundation model directly on the robot, enabling autonomous complex tasks. Mass production is targeted by year-end 2026, with initial commercial deployments in XPeng stores and campuses. Large-scale deliveries to external retail and service customers in China and overseas are planned for 2027, with monthly production capacity rapidly ramping to several thousand units.

In Q2 FY26, vehicle deliveries reached 103,295 units, a 65% quarter-over-quarter increase. The GX model saw domestic deliveries exceed 7,000 units in July, making it a top-three model in China's premium MPV SUV segment. The MONA L03, a new SUV, received record orders, and despite supply chain disruption^🌐s, two-shift production has commenced. The flagship five-seat SUV, the G9L, will launch in September, and the MONA L05 will launch in Q4, completing coverage of all major SUV segments.

Overseas quarterly deliveries surpassed 20,000 units for the first time in Q2 FY26, growing 81% year-over-year and contributing over 25% of total revenues. The average selling price of XPeng's exports exceeded EUR 40,000. The MONA L03, globally launched in Munich, is expected to drive overseas deliveries to over 40,000 units in Q4 FY26. In 2027, XPeng plans to introduce multiple star models, including extended-range EV models, to further expand its global market share.

A significant upgrade to VLA 2.0 (version 6.3.0) will roll out from late August, increasing parameters by 3.5x and perception sensitivity by 300%. This version introduces ultra-long horizon reasoning and predictive capabilities, integrating L4 level features from Robotaxi into passenger vehicles, such as voice-activated park assist. On-road validation in Germany showed strong performance with minimal local training data, and regulatory approval for VLA 2.0 in Europe is targeted for H1 2027.

XPeng's pre-installed Robotaxi, powered by VLA 2.0, has completed over 2,000 internal test orders, validating the end-to-end process for trial passenger operations. The company aims to begin passenger operations without a safety operator next year (2027) and expand its Robotaxi business across key cities globally. XPeng is also establishing a group-level business development team to accelerate the global commercialization of its AI chips, VLA 2.0, Robotaxi, and humanoid robot technologies, fostering an open physical AI ecosystem.

Total revenues for Q2 FY26 were RMB 19.74 billion, an 8% increase year-over-year and 51.5% quarter-over-quarter. Vehicle sales revenue was RMB 17.05 billion, up 1% year-over-year and 55% quarter-over-quarter. Gross margin stood at 20.7%, with vehicle margin at 12.1%. R&D expenses increased 32.1% year-over-year to RMB 2.91 billion, and SG&A expenses rose 15.2% year-over-year to RMB 2.5 billion. The company reported a net loss of RMB 1.34 billion, and its cash position as of June 30, 2026, was RMB 40.48 billion.