XPeng conference call: Three Robotaxis that do not rely on lidar will be launched next year, entering large-scale trial operations

XPeng Motors released its Q3 2025 financial report on Monday, with key indicators reaching new highs across the board. Revenue doubled year-on-year, comprehensive gross margin surpassed 20%, setting a historical record, and net losses narrowed significantly by nearly 80% year-on-year. It is expected that Q4 deliveries and revenue will both grow by over 30% year-on-year. In the subsequent earnings call, He Xiaopeng stated, with the emergence of large models in the physical world, the era of autonomous driving is accelerating.

He indicated that only a deeply integrated physical world model can enable machines to gradually possess the ability to interact, communicate, change, and even create in the physical world, thereby reshaping travel and lifestyle.

Only front-end mass production and highly generalized Robotaxi can achieve large-scale popularity while simultaneously running a viable business model.

He Xiaopeng revealed that in 2026, XPeng Motors will launch three Robotaxi models. The Robotaxi technology route does not use lidar, which can effectively address the series of issues in the Robotaxi industry, particularly the high deployment costs and the limitations in travel and generalization capabilities. He believes this will accelerate the global deployment of Robotaxi at scale.

Additionally, XPeng plans to initiate trial operations of XPeng Robotaxi in China in 2026 and further refine the software, hardware, and operational ecosystem of Robotaxi.

Q3 Performance and Overall Strategy for Physical AI

He Xiaopeng stated that in Q3 2025, XPeng achieved historical highs in several operational metrics: quarterly deliveries reached 116,007 units, a year-on-year increase of 149%; revenue, gross margin, and cash reserves all hit new records, with gross margin exceeding 20% for the first time; net losses further narrowed. The company's goal is to achieve breakeven in Q4. These continuously improving operational performances have strengthened the company's commitment to further invest in physical AI research and development, accelerating the mass production and scaling of the second-generation VLA model, Robotaxi, and humanoid robots in 2026.

He pointed out that over the past 11 years, XPeng has adhered to full-stack self-research, evolving from "software-defined vehicles" to "physical AI," and has clearly felt that cars and humanoid robots share the same source models, chips, and infrastructure, enabling rapid iteration and evolution.

Our physical AI system has already begun to exhibit many emergent capabilities. In the new decade, our vision is to make XPeng Motors a globally-oriented "giant intelligent company."

I believe that the value created by physical AI must be maximized through an open ecosystem. To this end, we will open-source the physical world model, collaborate with travel platforms to launch Robotaxi services, and open hardware SDKs. Through cooperation with business and technology partners, we will further expand the physical AI ecosystem and accelerate value creation.

AI Vehicles: The "Dual Energy" Product Cycle Begins

He Xiaopeng stated that XPeng Motors is entering a new product cycle of "dual energy" (pure electric + super range extender), rapidly expanding sales and market share in the new energy sector through a more complete power combination On November 6th, XPeng launched the industry-leading "Large Battery Lithium Iron Phosphate 5C" super extended-range model - the XPeng G9 Super Journey, with a comprehensive range of 1,602 kilometers, making it the world's longest-range, highest AI computing power, smallest turning radius, and highest space utilization large 7-seater SUV. The super extended-range will significantly accelerate the migration of fuel vehicle users to new energy.

He revealed that after the pre-sale of the super extended-range was launched, attention in northern and inland cities significantly increased, attracting user groups that were previously difficult to reach with pure electric vehicles. The pre-sale orders for the X9 super extended-range reached nearly four times that of the previous generation during the same period. The XPeng G9 Super Smart will be launched on November 20th and delivered simultaneously, with the company expecting December sales to reach a new high.

2026 Product Plan: Multiple Super Journeys + Multiple Dual-Energy New Products

He Xiaopeng stated that the company plans to launch three brand new super journey models in the first quarter of 2026, addressing the core pain points of extended-range users with longer pure electric range and 5C ultra-fast charging. At the same time, four new "one vehicle, dual energy" models will be launched in 2026, including the first breakthrough product in important market segments - a blockbuster model similar to the M03.

I believe that the seven models equipped with super extended-range launching next year will greatly expand our total addressable market (TAM) and bring significant sales growth.

Global Market Expansion

He Xiaopeng indicated that the company's overseas sales continue to grow rapidly. In September 2025, overseas monthly deliveries surpassed 5,000 vehicles for the first time, a year-on-year increase of 79%. In the third quarter, 56 new overseas stores were added, with the sales service network covering 52 countries and regions worldwide.

The localized production project in Europe has officially launched at Magna's factory in Graz, Austria, with the first batches of G6 and G9 rolling off the production line. The Munich R&D center has also been put into operation.

He revealed that the company plans to launch at least three new models for overseas markets in 2026, including the globally anticipated small and medium-sized SUV to meet diverse global demands.

Second Generation VLA Model: Parameter Count Increased by 10 Times, Full Rollout in 2026

XPeng's AI computing power and data are being transformed into the capability of large models in the physical world. He Xiaopeng stated that the parameter count of the second-generation VLA model is ten times that of the previous generation, achieving significant generational improvements in the safety and experience of intelligent driving.

He Xiaopeng mentioned that he recently personally test-drove VLA 2.0, and its performance in complex road conditions was "extremely impressive, unmatched by any end-to-end model in the same class." He expects to open the co-creation experience for pioneer users by the end of December; in the first quarter of 2026, VLA 2.0 will be pushed to all O7 and above models.

The mass production of this generation of models will be a significant leap, bringing a generational upgrade experience, allowing more people to choose XPeng due to its leading autonomous driving capabilities.

He revealed that XPeng will open-source VLA 2.0 to global business partners, with Volkswagen becoming the first customer. At the same time, XPeng's self-developed Turing AI chip has been designated by Volkswagen, and the cooperative models will begin mass production in early 2026.

We will generate licensing revenue from external technical cooperation, which will feed back into R&D, investing in the iteration and upgrade of Turing chips, VLA models, etc., forming a positive cycle. We welcome more automakers and Tier 1 suppliers to collaborate with us based on Turing chips and the second-generation VLA model to jointly promote the popularization of intelligent technology in China and globally

Robotaxi: Trial Operation to Begin in China in 2026

He Xiaopeng pointed out that traditional end-to-end large models can at most achieve the best L2 assisted driving, while physical world large models truly accelerate the arrival of the autonomous driving era. He believes that only mass-produced Robotaxis with strong generalization capabilities can achieve success in scale and business models.

He revealed that XPeng will launch three Robotaxi models in 2026. Their routes will not rely on high-precision maps or lidar, significantly reducing industry costs and deployment difficulties, enhancing urban generalization capabilities, and reducing travel restrictions. In 2026, XPeng will begin trial operations of Robotaxis in China while continuously refining software, hardware, and operational ecosystems.

He stated that the Robotaxi SDK will be fully open, with Amap becoming the first ecological partner, and XPeng welcomes more mobility companies to join the collaboration.

Humanoid Robot: Mass Production by the End of 2026, Sales Target Exceeding 1 Million Units by 2030

He Xiaopeng stated that the company's humanoid robot (Iron) adopts the same physical world large model approach. Supported by the vehicle and powertrain teams, XPeng showcased the next-generation Iron robot at the Technology Day, whose light gait and humanoid performance sparked cross-industry discussions.

He mentioned that the capabilities currently displayed by Iron are only a small part. The company plans to achieve full capability integration across domains by the second quarter of 2026 and to initiate mass production of advanced humanoid robots by the end of 2026. The first commercial scenarios will include guiding, shopping assistance, inquiries, and security. By the end of 2026, Iron will enter XPeng stores, parks, and factories, becoming a "new classmate."

XPeng will open the robot SDK to global developers, promoting Iron to gain stronger capabilities in more long-tail scenarios.

I believe the market potential for humanoid robots is greater than that of cars. Once we cross the tipping point of intelligence and electrification, we will see explosive growth. I look forward to XPeng's robot models achieving annual sales exceeding 1 million units by 2030