Xpeng Reports First-Half Loss Widening, Raises Over $900 Million for Robot Unit

Xpeng Group reported first-half 2026 revenue of 32.78 billion yuan, down 3.8% year on year, and a net loss of 3.12 billion yuan, up about 173.7%, according to Jiemian News. The company also said its robot business completed a first financing round of more than $900 million at a post-investment valuation above $6.3 billion, or about 4.3 billion yuan. For the second quarter, revenue rose 8% year on year to 19.74 billion yuan and vehicle sales revenue increased 1% to 17.05 billion yuan. Gross margin reached 20.7%, while the automotive gross margin was 12.1% and service and other revenue climbed 93.9% to 2.7 billion yuan with a gross margin of 75.1%. R&D spending rose 32.1% to 2.91 billion yuan and selling, general and administrative expenses increased 15.2% to 2.5 billion yuan. Net loss widened to 1.34 billion yuan from 480 million yuan a year earlier, though it narrowed from 1.78 billion yuan in the first quarter. Xpeng said it delivered about 166,000 vehicles in the first half, down 15.8% year on year, including 62,682 in the first quarter and 103,295 in the second quarter. It forecast third-quarter deliveries of 115,000 to 121,000 vehicles and revenue of 21.7 billion yuan to 23.4 billion yuan, both below market expectations. The company said July deliveries reached 38,027 vehicles, up about 4% year on year, bringing year-to-date deliveries to 204,004.