(Yicai) Nov. 18 -- Xpeng’s net losses contracted sharply in the third quarter as the Chinese electric car startup logged a record-breaking quarter in terms of revenue and deliveries. The firm, which has set its sights on becoming the ‘Chinese Tesla,’ is also accelerating its push into humanoid robots and aims to sell more than one million units a year by 2030, its chief executive officer said.

Xpeng’s net loss narrowed 79 percent in the three months ended Sept. 30 from a year earlier to CNY380 million (USD53 million), the Guangzhou-based EV maker said yesterday. Revenue doubled to CNY20.4 billion (USD2.9 billion), hitting a new quarterly high.

 "In the third quarter of 2025, Xpeng delivered another set of record results. Vehicle deliveries, revenue, gross margin and cash on hand all reached new highs," Chairman and CEO He Xiaopeng said at the earnings call yesterday.

"We are in the early stages of rapid expansion in terms of sales volume and market share, with Robotaxi and humanoid robots advancing rapidly toward mass production. I firmly believe that Xpeng will evolve into a global embodied artificial intelligence company,” he added. 

Earlier this month, Xpeng unveiled its self-developed humanoid robot Iron, which drew widespread attention after imitating a human model on the catwalk. 

Xpeng plans to start mass producing humanoid robots by the end of next year and aims to sell more than one million units annually by 2030, He said.

In the long run, the market potential for robots is even greater than that of cars, He said. The cost of materials used to build robots will eventually drop to be similar to that of autos, and Xpeng will strive to price its robots close to vehicles to realize the vision of robots entering every household, he added. 

Tesla CEO Elon Musk said previously that the US electric car titan will begin running a production line with an annual capacity of one million humanoid robots next year, and will build a factory in Austin that can manufacture 10 million units a year. 

Looking ahead to the fourth quarter, Xpeng said it expects total revenue to jump between 34 percent and 43 percent from a year earlier to between CNY21.5 billion (USD3 billion) and CNY23 billion. Vehicle deliveries are projected to soar between 37 percent and 44 percent to between 125,000 and 132,000 units.

In the first 10 months, Xpeng’s shipments surged 190 percent year on year to 355,209 vehicles, achieving its annual sales goal of 350,000 units ahead of schedule. Deliveries in October rose 76 percent year-on-year to hit a new monthly record of 42,013 units, according to the latest data.

Xpeng’s share price [HKG:9868] tumbled 10.6 percent today to HKD85.95 (USD11), although the stock has gained 84 percent in value so far this year. Its US-listed stock [NASDAQ:XPEV] slumped 10.4 percent yesterday to USD22.43, but has already gained 90 percent this year.

Editors: Dou Shicong, Kim Taylor