Xpeng Cuts Q3 Losses 79%, Aims 1M Robot Sales Annually by 2030

Xpeng’s net losses saw a significant decline in the third quarter, as the Chinese electric vehicle startup reported its best quarter ever for revenue and deliveries. The company, aiming to rival Tesla in China, is also ramping up its development of humanoid robots and targets sales of over one million units annually by 2030, according to its CEO.

For the three months ending September 30, the company’s net loss decreased by 79% year-over-year to CNY380 million (approximately USD53 million), as announced yesterday. Revenue doubled to CNY20.4 billion (around USD2.9 billion), setting a new quarterly record.

“In the third quarter of 2025, we achieved another record-breaking performance. Vehicle deliveries, revenue, gross margin, and cash reserves all reached new highs,” stated the Chairman and CEO during the earnings call.

He added, “We are in the early stages of rapid growth in sales volume and market share. Our Robotaxi services and humanoid robots are progressing swiftly toward mass production. I am confident that we will develop into a global company specializing in embodied artificial intelligence.”

Earlier this month, the company introduced its self-developed humanoid robot Iron, which gained attention after mimicking a human model on the runway.

The company plans to commence mass production of humanoid robots by the end of next year and aims to sell more than one million units annually by 2030, the CEO said.

Looking further ahead, the potential market for robots is believed to surpass that of automobiles. The costs of building robots are expected to decrease to levels comparable to those of cars, and the company intends to pricing its robots similarly to vehicles to realize the vision of robots becoming a household staple, he added.

Elon Musk previously indicated that his U.S.-based EV company will launch a production line capable of manufacturing one million humanoid robots per year next year and will build a factory in Austin with an annual capacity of 10 million units.

For the upcoming quarter, the company expects total revenue to grow between 34% and 43% compared to last year, reaching between CNY21.5 billion (around USD3 billion) and CNY23 billion. Vehicle deliveries are forecasted to increase between 37% and 44%, amounting to approximately 125,000 to 132,000 units.

In the first ten months of the year, shipments surged 190% year-over-year to 355,209 vehicles, surpassing the annual sales target of 350,000 units ahead of schedule. October deliveries alone increased by 76% compared to last year, setting a new monthly record of 42,013 units, based on latest data.

The company’s stock dropped 10.6% today to HKD85.95 (about USD11), despite being up 84% on the year. Its U.S.-listed shares also fell 10.4% yesterday to USD22.43, though they have gained 90% over the year.