XPENG Reports February EV Deliveries

The February 2026 delivery figures represent a significant drop for XPENG, down from 20,011 vehicles delivered in January 2026 and a stark 49.9% year-over-year decline from February 2025. This downturn is part of a broader trend in the Chinese EV market, which saw its first decline in two years at the start of 2026. The slowdown in the world's largest auto market is attributed to a confluence of factors, including the Lunar New Year holiday, a period historically associated with slower sales, and changes in government subsidies. As of January 1, 2026, the full tax exemption for New Energy Vehicles (NEVs) was replaced with a 50% exemption, impacting the purchasing decisions of consumers. In a fiercely competitive domestic market, other Chinese EV makers also reported their February numbers. Li Auto announced it delivered 26,421 vehicles, while NIO reported deliveries of 20,797 for the month. While a specific February figure for global EV leader BYD was not released, it reported selling 210,051 new energy vehicles in January 2026. Despite the challenging start to the year, XPENG is pushing forward with its global expansion and technology roadmap. The company has begun global deliveries of its new P7+ model to 18 countries. This international push is a key part of XPENG's strategy, with the company aiming to double its overseas sales in 2026. Looking ahead, XPENG is heavily focused on its artificial intelligence capabilities. The company is set to unveil its second-generation Vision-Language-Action (VLA) model in March. This advanced driver-assistance system is a cornerstone of its strategy to differentiate itself in the crowded EV landscape. The company is also expanding its product line-up in 2026 with the introduction of new models, including an upgraded G6 SUV and the X9, a seven-seat flagship vehicle. These new offerings are part of XPENG's ambitious plan to reach an annual sales target of 550,000 to 600,000 vehicles for the year.