Shares of Chinese electric vehicle maker Xpeng tumbled more than 9% in Hong Kong on Tuesday, as investors focused on a weaker-than-expected third-quarter delivery forecast rather than a blockbuster funding round for the company’s robotics business.
The stock slide followed a similarly sharp drop in U.S. trading, where Xpeng’s American depositary shares closed 8.5% lower on Monday.
Q2 results and guidance
The Guangzhou-based automaker reported a second-quarter net loss of 1.34 billion yuan (about $0.20 billion), wider than the year-ago period, even as revenue climbed 8% to 19.74 billion yuan.
For the third quarter, Xpeng guided for deliveries of between 115,000 and 121,000 vehicles — a range that disappointed investors. Citi noted that the guidance fell short of expectations, largely due to supply chain constraints that disrupted the ramp-up of the company’s MONA L03 model. The bank trimmed its price targets for Xpeng’s U.S.- and Hong Kong-listed shares following the results.
Robotics unit valuation
Separately, Xpeng’s robotics business raised more than $900 million in its first funding round, giving the unit a post-transaction valuation of over $6.3 billion. The round was led by IDG Capital, with participation from Gaorong Ventures, and included Tencent and Alibaba as strategic investors.
Brian Gu, Xpeng’s vice chairman and co-president, said in a LinkedIn post that the funding would help usher in “a new phase of global mass production and commercial deployment for advanced humanoid robots.”
Citi described the robotics financing as a long-term positive, noting that Xpeng could apply its strengths in algorithms, AI models and chips to humanoid robots. The bank calculates that if Xpeng’s current valuation fully reflects the robotics unit’s post-money valuation, the EV business has an implied value of around $6.5 billion — roughly the same as the robotics arm.
Broader pressures
Xpeng CEO He Xiaopeng said in November that the company would sell more robots than cars in the next decade. The company unveiled its second-generation humanoid robot at that time and has also developed a flying vehicles unit.
Despite regaining market share last year with its lower-priced Mona brand, Xpeng has struggled to sustain sales momentum amid a broader downturn in China’s electric vehicle market.
Source: www.cnbc.com — https://www.cnbc.com/2026/08/25/xpeng-shares-robot-valuation-china.html
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