Chinese electric vehicle maker Xpeng has sharply reduced its net loss in the third quarter (Q3), supported by a jump in deliveries and stronger margins.

The Guangzhou-based company posted a net loss of 380.9m yuan ($53.58m) for the three months to 30 September, compared with a loss of 1.81bn yuan a year earlier.

Total revenue rose 102% year-on-year to 20.38bn yuan, up from 10.10bn yuan in the same period of 2024.

Vehicle deliveries reached 116,007 units in Q3, a 149.3% increase from 46,533 a year earlier.

Revenue from vehicle sales came in at 18.05bn yuan, up 105.3% from the prior-year quarter.

Profitability measures also improved. Gross margin stood at 20.1%, up from 15.3% a year earlier.

Vehicle margin rose to 13.1% from 8.6% in the comparable period of 2024.

Xiaopeng He, chairman and CEO of Xpeng, said: "In the third quarter of 2025, Xpeng delivered another set of record results. Vehicle deliveries, revenue, gross margin and cash on hand all reached new highs.

"We are in the early stages of rapid expansion in terms of sales volume and market share, with Robotaxi and humanoid robots advancing rapidly toward mass production. I firmly believe Xpeng will evolve into a global embodied AI company.”

For the fourth quarter of 2025, the company expects deliveries of vehicles to be between 125,000 and 132,000, representing a year-over-year increase of approximately 36.6% to 44.3%.

It also expects its total revenues to be between 21.5bn yuan and 23bn yuan, representing a year-over-year increase of approximately 33.5% to 42.8%.

As of 30 September 2025, Xpeng's physical retail network comprised 690 stores across 242 cities.

Its self-operated charging network totalled 2,676 stations, including 1,623 XPENG S4 and S5 ultra-fast charging stations by the end of the quarter.