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Xpeng shares sink as weak delivery forecast overshadows $6.3 billion robot unit valuation

Xpeng shares fell over 9% in Hong Kong after a weak Q3 delivery forecast, even as its robotics unit raised $900 million at a $6.3 billion valuation.

AI News Feed · 2026-08-25 18:13

The company's U.S.-listed shares closed 8.5% lower on Monday. In the second quarter, Xpeng reported a net loss of 1.34 billion yuan ($0.20 billion), wider than a year earlier, while revenue rose 8% to 19.74 billion yuan. The company expects to deliver between 115,000 and 121,000 vehicles in the third quarter.

Citi said the delivery guidance fell short of investor expectations, largely due to supply chain constraints that disrupted the ramp-up of Xpeng's MONA L03 model. The bank slightly lowered its price targets for Xpeng's U.S.- and Hong Kong-listed shares after the results.

Separately, Xpeng's robotics business raised more than $900 million in its first funding round, giving the unit a post-transaction valuation of more than $6.3 billion. The round was led by IDG Capital, with participation from Gaorong Ventures and support from Tencent and Alibaba as strategic investors.

Brian Gu, Xpeng vice chairman and co-president, said the company aims to usher in "a new phase of global mass production and commercial deployment for advanced humanoid robots," in a LinkedIn post about the funding round. Citi estimates that if Xpeng's current valuation fully reflects the robotics unit's post-transaction valuation, its EV business has an implied value of around $6.5 billion, roughly the same level as the nascent robotics business. The bank described the robotics financing as a long-term positive, saying the EV maker could apply its existing strengths in algorithms, AI models and chips to humanoid robots.

Xpeng CEO He Xiaopeng said in November that the company would sell more robots than cars in the next 10 years. The Guangzhou-based startup revealed its second-generation humanoid robot at the time and has also built out a flying vehicles business unit. While Xpeng recovered market share last year on the back of its lower-priced mass market brand Mona, it has struggled to maintain sales momentum amid an overall slump in China's electric car market.