Operator
Hello, ladies and gentlemen. Thank you for standing by for the second quarter 2026 earnings conference call for Xpeng Inc. At this time, all participants are in listen-only mode. After management's remarks, there will be a question and answer session. Today's conference call is being recorded. I will now turn the call over to your host, Mr. Alex Z, Head of Capital Markets of the company. Please go ahead, Alex.
Thank you. Hello, everyone, and welcome to the Expo's second quarter 2026 earnings conference call. Our financial and operating results were issued by our news file services early today and available online. You can also view the earnings press release by visiting the IR section of our website at IR.xiafeng.com. Participants of today's call from our management team will include a co-founder, chairman, and CEO, Mr. He Xiaofeng, Life Chairman and President Dr. Brian Wu, Vice President of Finance and Accounting Mr. James Wu, and myself. Management will begin with propelled remarks and the call will conclude with a Q&A session. A webcast replay of this conference call will be available on the IR section of our website. Before we continue, please note that today's discussion will contain forward-looking statements made under the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Overlooking statements involve adherent risks and uncertainties. As such, the company's results may be materially different from the views expressed today. Further information regarding these and other risks and uncertainties is included in the relevant public filings of the company as filed with the U.S. Securities and Exchange Commission. The company does not assume any obligation to update any formal looking statements except as required under applicable law. Please also note that EXPON's earnings press release and this conference call includes the disclosure of unordited GAAP financial measures as well as unordited non-GAAP financial measures. EXPON's earnings press release contains a reconciliation of the unaudited non-GAAP measures to the unaudited GAAP measures. I will now turn the call over to our co-founder, chairman, and CEO, Mr. He Xiaoteng.
Please go ahead. 获得超过9亿美元的融资 这是刷新中国能营基层行业的私募的融资记录 本轮融资是由全球顶尖的投资机构主动发起 其中包括了IDG 领投 高龙 餐头 同时我们获得了腾讯和阿里两家战略投资者的大力支持 首轮的融资金额跟估值已经打破了行业的记录 所以充分体现了资本市场 对小虫在物理AI领域的领先地位 技术路线 以及规模量产力 和长期商业价值的高度 我相信农资不仅仅为高阶 通用能源技术 Iron的量产和研发 提供充裕的资金支持 更让我们向物理AI的 TGPT时刻加速前行 也会让基层业务的生态建设 和应用场景的拓展 It will bring more strategy and support. I believe that小鹏, as the world's main product company, is not only to take no fuel in the world's standard use and business use, but will also be built to build the most valuable fuel company. I am very happy that today, we have the most important step in the right direction.
Good evening, everyone. I am pleased to share with our shareholders and investors that we have just announced the first round of financing for Xpeng Robotics business. The business raised over U.S. dollars and $900 million at over U.S. $6.2 billion post-money valuation. This round was initiated by leading global investors led by IDG Capital with participation from Gaorong Ventures and support from Tencent and Alibaba as strategic investors. Both the size and valuation of the first round of financing have set a new private financing record in China's humanoid robotic industry, underscoring the capital market's strong endorsement of experts' leadership in physical AI, technology roadmap, ability to manufacture at scale and long-term commercial value. The financing will provide ample capital to support the mass production and continued development of our advanced general-purpose humanoid robots, IRAM. We will accelerate our progress towards the chat GPT moment for physical AI, whilst bringing additional strategic resources to strengthen the robotics ecosystem and expand real-world applications. As a global leader in physical AI, Xpone will not only lead the large-scale deployment and commercialization of autonomous driving worldwide, but also build the world's most valuable humanoid robots company.
Today, we're very happy to see that we have taken another important step towards that goal. 除了担任小鹏的CEO外 我还亲自负责机前业务的CEO 小鹏在过去12年始终坚持软件和硬件的权战资源 已经为物理AI时代构建了坚持的技术跟商业底座 那么我们现在能够调动全集团的优势资源 共同协助把汽车业务所积累的 例如供应链 车规矩的制造 全球布局 以及我们的自动驾驶业务积累的图灵AI芯片
Thanks June Alongside my responsibilities as CEO of Xpom I have also taken up on the role of the CEO of our robotics business Over the past 12 years Xpon has remained committed to full-stack in-house R&D across both software and hardware, building a solid technological and commercial foundation for the physical AI era. We are able to bring together and integrate the strengths and resources of the entire group. These include the supply chain, automotive-grade manufacturing capabilities, and global footprint developed through our automobile business, as well as the Turing AI chips, AI infrastructure, and world foundation models developed through our other business.
AI的音法 数据的底层能力 物理设计的基础模型 等整合应用到机身的业务板块
By applying these capabilities to our robotic business, I believe that we can accelerate the mass production and commercialization of Xpon's humanoid robots. 技术挑战跟创新难度,实际上是远高于智能汽车的难度了,我认为至少相差20倍,要做到如此大的创新, 我们必须在设计和造型 硬件和软件 硬件和芯片 软件跟AI 数据跟管理 品质跟制造上 都要做到兼具 广度和深度的正向研发 和整体继承 我相信才可能把继承做成功 我相信小鹏继承 可能是中国所有继承公司中间 唯一在全部体系 都进行自研的公式 正因为如此,小鹏的艾伦跟目前市面上的竞品 我相信有本质的差点
在多个方面,我们都具备独一无二的能力 跟整体的平衡艺术 We have been conducting our research and development in the area of robotics for more than eight years and I have always believed that the technological challenges and level of innovation required for advanced general purpose humanoid robots are far greater than those for smart EVs by at least 20 times. To accomplish something that is this difficult, we need to have a broad and deep R&D and system integration capabilities across design and styling, hardware and chips, software and AI, data and control systems, and quality in manufacturing. Only then can we succeed. Xpeng is the only robot company in China with such comprehensive in-house R&D capabilities across the entire technological stack. This is why Xpeng Iron fundamentally stands apart from other humanoid robots currently on the market with differentiated capabilities across multiple areas.
小脑 数据和相关的音法 那么在本体方面 小鹏的Iron 具有行业最领先的理论状态与造型 我们首创全包裹覆盖 楼性的金格 兼具美观和安全 全身一共有76个自由度 其中单手 零巧手的自由度为21个 均处于行业的领先水平 小鹏基层围绕 巨生智能自主设计 開發了AI原生的硬件平台
並且我們基於當前已經完善了 智能電動車研發跟製造體系 打造車規級的機材品質 和大規模量產交付的整體能力
Currently, our full-in-house technology stack covers the iron's body, brain, cerebellum, data and infrastructure. On the hardware's front, Xpong IRM features the industry's most human-like form and design. Xpong pioneered the industry's first fully enclosed flexible lattice structure for IRM, combining aesthetic appeal with enhanced safety. With 76 degrees of freedom across the body and 21 degrees of freedom in each hand, both are at industry-leading levels. Xpont has independently designed and developed an AI-native hardware platform and all core components specifically for embodied intelligence, including chips, controllers, motion modules, and dexterous hands. Leveraging our established smart EVRMD and manufacturing capabilities, we can achieve automotive grade quality and build the capability to manufacture and deliver at scale. so
跟基本上全部的核心零部件 包括芯片控制器 運動的關鍵模組零巧手
高度理人的基层的硬件的平台又天然具备了更强的数据规模化的优势,它既可以最大程度复用学习能类日常生活产生的行为数据,又能够快速适配为人而设计的广泛应用场景,甚至工具的使用。 In terms of
intelligence, Xpon Iron is powered by three Turing AI chips, delivering effective computing power of up to 2,250 tops. With the industry's highest level of edge computing power, Xpon's physical AI foundation model runs directly on Iron, enabling it to autonomously perform complex work tasks without teleoperation whilst ensuring low-latency inference and data security. IRON's highly human-like hardware platform provides a natural advantage in scaling data. It allows us to maximize the reuse of behavioral data generated in people's everyday lives and rapidly adapt to a broad range of environments designed for humans. As Xpeng IRAN moves ahead to mass production and real-world deployment, we will gain access to vast amounts of real-world and human demonstration data, accelerating the training and iteration of our AI models. In turn, continued improvements in model capabilities will allow IRON to enter more scenarios and generate more high-quality data, creating a flywheel across data, models, and applications that will accelerate IRON's evolution in the real world.
那么这样的话Alan才会成为人类值得信赖的伙伴 走路大众的工作与生活 我们面向量产的版本 在近期已经达到了多个重要的里程碑 从下个月也就是9月份开始 我会逐步向大家展示跟介绍 Alan一系列与众不同的能力 我们并且计划从今年的年底 开始进入规模量产阶段 然后从小工的门店 园区开始落地商业场景 并且在2027年 小朋友会正式上市面向零售和服务业场景的外部客户 在中国和海外开始规模的交付 那么明年的月产人会根据市场的需求 迅速的提升到数千台美元 我认为高阶通用能行继承的技术门槛极高 供给也相当西圈 所以每一台Alan在全生命周期的收入跟毛利贡献 包括硬件销售和软件的AI模型能力的相关的销售服务 都将带来持续性的收入 因此它一定会大幅度高于当前汽车业务的单车军价和毛利 我期待能因机前在规模量产后 在国内跟海外的商业化快速落地 为我们带来可观的毛利增长
并且以支持我们的物理AI的更大的投入 持续扩大技术领先的优势 Expound Iron combines an exceptionally human-like design the most intelligent AI brain and the highest standards of safety and quality Only by doing so can Iron become a trusted companion to people and truly become part of everyday work and life We have recently achieved several major milestones in the development of the mass production version. Starting from September, we will unveil and demonstrate a series of distinctive capabilities. We plan to enter scaled production by year-end, with initial commercial deployments in Xpon stores and campuses. In 2027, Expo Aeron will officially launch and begin large-scale deliveries in China and overseas to external customers in the retail and service sectors. Next year, monthly production capacities can rapidly ramp up to several thousand units in response to market demand. I believe the technological barriers to advanced general-purpose humanoid robots are exceptionally high, while the supply of high-quality humanoid robots remain limited. As a result, the lifetime revenue and gross profit contribution of each IRM, including hardware sales and recurring revenue from upgrades to its AI model capabilities, will be substantially higher than the current average setting price and gross profit per vehicle of our automotive business.
I expect the commercialization of humanoid robots to scale rapidly in China and overseas following mass production, generating meaningful gross profit growth, supporting our investment in physical AI R&D, and further widening our technological lead. 面对行业性的整体成本上升的压力 我们的经营继续保持了稳健 得益于在高端化和国际化的突破 二季度小鹏的毛利率继续超过20% 其中科技豪华旗舰小鹏GF从今年上市的一系列大六座SUV产品中间脱颖而出 我们在7月份的中国国内的交付量就超过了7000台 成为30万米上新能源SUV市场 排名前三的明星产品 那么MOLA系列的首款SUV产品L03 在上市后更成为现象级的爆款产品 它的订单打破了小鹏所有车型的历史记录 并且即使在三季度已经过去的7月份跟8月份 我们可以看到小鹏汽车的新增锁单量 环比增长超过50% 创了历史的新高 我相信由于极端的天气和供应链的影响 我们的产能爬坡节奏当前的确影响了交付速度 那么在此我特别特别感谢各位车主的耐心等待
我们已经开启了MOLA L03的双班生产 并且正在全力以赴和供应链伙伴一起加速提升产能 我相信L03的交付量在之后几个月一定会大幅度提高 持续向上 now i would like to come back to our automotive business in the second quarter our vehicle deliveries reached 103,295 units up 65 percent quarter over quarter and we achieved year-over-year growth ahead of the broader industry despite industry-wide cost pressures our operations remained resilient. Supported by our progress in the premium segment in international markets, companies' growth margin remained above 20% in the second quarter. Our tech-defined luxury flagship model GX stood out among a wave of large six-seat SUVs launched this year. Domestic deliveries exceeded 7,000 units in July, making it one of the top three models in China's NEV SUV segment priced above RMB 300,000. Mona L03, the first SUV in the Mona series, became a breakout hit immediately after its launch, with orders setting a new record for any expo model. In the third quarter, new uncancellable orders increased by 50% quarter over quarter to a record high. Extreme weather and supply chain disruptions affected our pace of ramping up in the delivery. Here, I would like to especially express my sincere appreciation to our customers for their patience. We have started two shift productions for the Mona L03 and are working closely with our supply chain partners to accelerate the capacity ramp. I expect that the L03 deliveries will increase substantially over the coming months and continue to trend upward. The success of the GX and the Mona L03 gives us more confidence in our upcoming models. We are translating our competitive strengths in the best-in-class intelligence and standout design into higher sales targets and stronger brand momentum. Our flagship five-seat SUV, the G9L, will officially launch and begin delivery in September. The Mona L05 will also launch in China in the fourth quarter. With the launch of four brand-new SUV models, we will cover all major SUV segments.
We believe X-Points' deliveries to increase significantly in the fourth quarter, with monthly deliveries targeting more than 60,000 units. 并且取得了很高的经营质量 平均售价超过4万欧元 单车收入和单车毛利 我相信都处于中国车企出海的领先水平 那么在7月份小鹏OLA M03在德国目的黑面向全球发布后 备受关注 那么其中智能化造型空间都获得了海外消费者的高度评价
我相信L03将会成为小鹏第一款在全球多个市场销量领先的大单品 并且我们预计在四季度开始交付 带动公司的海外季度销量突破四万台 那么在2027年我们还将在海外推出多款明星车型 包括真程车型 进一步扩大小鹏在海外的地域覆盖和市场份量 Our international business is the second growth engine for XPont's automotive business and also an important driver of improving profitability. Overseas quarterly deliveries exceeded 20,000 units for the first time in the second quarter, up 81% year-over-year. In the first half of the year, our international business accounted for more than 25% of total revenues. Furthermore, our overseas operations boast exceptional quality, with an average setting price of our export exceeding €40,000, placing our per-value revenue and gross profit at the forefront of Chinese automakers expanding globally. Since its global launch in Munich in July, the Mona L03 has attracted significant attention and earned high praise from overseas consumers for its intelligent technology, distinctive styling, and spacious interior. I believe Mona L03 will become Xpon's first major model to achieve leading sales across multiple international markets. Overseas delivery of the Mona L03 are expected to begin in the fourth quarter, driving firm-wide quarterly overseas deliveries to exceed 40,000 units.
In 2027, we will also introduce multiple star models, including extended-range EV models in overseas markets, further expanding our geographic coverage and market share. 再次验证的Scale-loi 为体验安全和泛化性带来的巨大的提升。 那么在这次全新的6.3的版本里面,我们的模型参数扩大了3.5倍,与行业内常见的小模型拉开了数量级的差距。 新的版本还提高了我们的感知灵敏度 提升了300% 并且引入了超长时序的推理预判能力 运行的真据也在行业做到了更加领先 让AI的司机做到了看得准 会思考反应快 那么并且这一次我们新版本还首次实现了VLA加VLM的自仓联合 将一部分小朋友Robotessi的L4GTA也下放 例如靠语音能够进行靠边停车 那么我相信这个第二代VLA可以在保持自驾状态下 自主安全地寻找靠边车位并且完成驳车
Starting from end of August, we will roll out a major upgrade to VLA 2.0, once again validating the stating law in ADOS and delivering substantial improvements in both user experience and safety. With the new 6.3.0 major version, the number of parameters in the VLA 2.0 on-device model will increase by 3.5 times, putting its parameter count in order of magnitude above that of small models commonly used in the industry. The new version delivers a 300% improvement in perception sensitivity, introduces ultra-long-horizon reasoning and predictive capabilities, and operates at an industry-leading frame rate. This enables the AI driver to see accurately, think ahead, and respond quickly. The new version will also integrate ADAS and smart cockpit capabilities powered by VLA and VLM, bringing selected L4-level capabilities developed for Xpeng RoboTaxi to our passenger vehicles. One example is voice-activated pullover parking. Users simply give a voice command, and VLA 2.0 will autonomously find a suitable roadside parking space and park the vehicle without exiting others' mode. 内部圆区小鹏新的VIA6.3的版本体验明显会更好
我们支持直接从导航到停车位全部可以做到高效很安全 我相信学的算力和模型的升级 我们在这一代VIA之后的几个大版本会涌现出更强大的综合能力 我们在量产车型上达到L4级别的自动驾驶体验 也会快速超越其他友商 实现综合的断代式的领线
in campuses and parking facilities the user experience delivered by vla 2.0 is even better it can navigate directly to a parking space with both efficiency and safety i believe that as we upgrade computing power and model capabilities vla 2.0 will develop even more powerful capabilities over the next several version upgrades delivering an l4 level others experience in mass produced vehicles, surpassing peers, and establishing a generational lead. 我认为这比友商的全球多区域的放货能力要明显领先
那么我们的目标是明年2027年的上半年率先能够在欧洲获得监管许可 并且同时开始向更多国家的海外用户交付第二代VLA 我们希望全球的用户享受到安全舒适便捷的自能出行体验 We continue to enhance VLA 2.0's model capabilities
while accelerating its global deployment. Recently, my team and I completed on-road validation of VLA 2.0 in Germany, and which was particularly encouraging was that the model primarily trained on data from China performed nearly as well on the European urban roads as it did in China, but almost no additional local training data. We aim to obtain regulatory approval for VLA 2.0 in Europe, first in the first half of next year and roll out VLA 2.0, bringing a safer, more comfortable, and more convenient driving experience to users worldwide. After deploying in the overseas market, VLA 2.0 will compete directly with the world's leading others and become experts' defining competitive advantage for our global products. At the same time, we will actively explore new software-based business models, creating a positive cycle in which commercialization and technology developments reinforce each other. As of now, our pre-installed mass-produced RoboTaxi powered by VLA 2.0, has completed more than 2,000 internal test orders in Guangzhou and validated the full end-to-end process for trial passenger operations, laying the groundwork for commercial operations. Recently, we have completed the development of our cloud remote takeover platform, and our goal is to begin passenger operations without a safety operator in the car next In 2027, Xpong will continue strengthening the technology and cost competitiveness of our robotaxi while partnering with leading domestic and international mobility platforms to expand our robotaxi business across key cities in China and around the world. This will create greater commercial value through vehicle sales, technological services, and revenue sharing from operations.
同时我们认为小鹏的物理AI的技术 不仅仅需要技术突破 更需要打造好开放合作 多方共鸣的技术和商业政策 那么为了加速物理AI的技术的商业化 我们在近期还组建了集团级的大BD团队 我们当前正在与海外和国内的合作伙伴 积极地洽谈 希望让我们的行业领先的 图灵AI芯片 VA的模型
In the meantime, we believe that the large-scale application of a physical AI requires more than technological breakthroughs. An open and collaborative technology and business ecosystem that creates a value for multiple participants is equally important. To accelerate the commercialization of physical AI, we recently established a group-level business development team within the group and are actively engaging with the partners in China and overseas to bring our industry-leading Turing AI chips, VLA 2.0, Robotaxi, and humanoid robots technologies to global markets more quickly.
234亿元 那么环比增长是9.9% 至18.5% 我相信小鹏从下半年开始 会进入多项业务 共振所带来的势能提升 不仅在汽车的 国内销量和海外的销量 都会再上新高 而且我们相信 我们的自动驾驶会形成 更大范围的领先 并且在全球开始 逐批落地高阶 自动驻驾驶技术
For the third quarter of 2026, we expect the deliveries to be approximately 115,000 to 121,000 units, representing quarter-over-quarter growth of 11.3% to 17.1%. Revenue is expected to be approximately R&B 21.7 billion to R&B 23.4 billion, representing quarter-over-quarter growth of 9.9% to 18.5%. I believe Expong is entering a period of accelerating momentum across multiple businesses in the second half of the year. Both domestic and overseas vehicle deliveries are expected to reach new highs. We are also expected to be among the first globally to achieve a scaled mass production and commercialization of advanced general purpose humanoid robots. We are also expected to be among the first to deploy advanced data technologies in overseas markets. and we will establish new business models around the physical AI ecosystem, creating greater value for customers and shareholders worldwide.
Thank you, everyone. Next is our VP, James, to introduce our second year of the second year of our business business.
Thank you, everyone. With that, I will now turn over the call to our VP of Finance, James, who will walk you through our financial performance for the second quarter of 2026.
Thank you, Xiaofeng. Now let me provide a brief overview of our financial results for the second quarter of 2026. I will reference RMB only in my discussion today, unless otherwise stated. Our total revenues were $19.74 billion for the second quarter of 2026, an increase of 8% year-over-year and an increase of 51.5% quote-over-quarter. Revenues from vehicle sales were $17.05 billion for the second quarter of 2026, an increase of 1% year-over-year and an increase of 55% quarter-over-quarter. The quarter-over-quarter increase was mainly attributable to higher vehicle deliveries. Revenues from services and others were $2.7 billion for the second quarter of 2026, representing an increase of 93.9% year-over-year and an increase of 32.6% quarter-over-quarter. The year-over-year and quarter-over-quarter increases were primarily attributable to the increased revenues from, first, technical R&D services rendered to the Volkswagen Group due to the successful achievements of certain key milestones, and secondly, parts and accessory sales. Gross margin was 20.7% for the second quarter of 2026, compared with 17.3% for the same period of 2025 and 20.6% for the first quarter of 2026. Vehicle margin was 12.1% for the second quarter of 2026, compared with 14.3% for the same period of 2025 and 12.1% for the first quarter of 2026 the year-over-year decrease was primarily due to the production generation transition r&d expenses were 2.91 billion for the second quarter of 2026 representing an increase of 32.1 percent year-over-year and an increase of 0.3 percent quarter-over-quarter the year-over-year increase was mainly due to higher expenses related to the development of new vehicle models, and AI-related technologies as the company expanded its product portfolio to support the future growth. SG&A expenses were $2.5 billion for the second quarter of 2026, representing an increase of 15.2% year-over-year and an increase of 32.5% quarter-over-quarter. The year-over-year increase was primarily due to higher marketing and advertising expenses. The quarter-over-quarter increase was primarily due to the higher commission to the franchise stores and higher marketing and advertising expenses. As a result of the foregoing, loss of operations was $1.14 billion for the second quarter of 2026, compared with $0.93 billion year-over-year and $1.87 billion quarter-over-quarter. Net loss was $1.34 billion for the second quarter of 2026, compared with net loss of $0.48 billion year-over-year and net loss of $1.7 billion quarter-over-quarter. As of June 30, 2026, our cash position was $40.48 billion. To be mindful of the length of the earnings call, I would encourage listeners to refer to our earnings press release for more details on our second quarter 2026 financial results. This concludes our prepared remarks. We'll now open the call to questions.
Operator
Operator, please go ahead. thank you if you wish to ask a question please press star 1 on your telephone and wait for your name to be announced if you wish to cancel your request please press star 2 if you're on a speaker phone please pick up the handset to ask your question for the benefit of all participants on today's call if you wish to ask your question to management in Chinese please immediately repeat your question in English. For the sake of clarity and order, please ask one question at a time. Management will respond, and then feel free to follow up with your next question. Your first question today comes from Tim Sal with Morgan Stanley.
Please go ahead. 我有两个问题都是跟机器人相关的 第一个问题 其实还是想跟进一下 可能刚才小鹏总在简报里面也提到 我们目前机器人RM计划是在今年年底 进入一个规模量产 那想请问一下整体产能 爬坡的一个计划 越快提到了 明年回到机器台 那另外的话 followed by 2027年 整体的交通目标是多少 因为我们可能也做了融资 所以想问一下基本假设是什么样的情况 so my first question is about volume in production target so what is the projected production capacity for expensed humanoid robot iron upon entering commercial mass production by late 2026 and what is the target delivery volume for physical year 2027 that's my first question 谢谢我是小鹏 我觉得机器人的产能跟汽车的产能 在我们角度来看还是有比较大的差异
那么汽车产能的供应链 广度跟深度都非常大 那么但是小鹏的Illand的机器人 我们实际上不光多个角度都全占自言 而且我们在自制方面 我们也做得非常的深 所以我相信真正的机器人 最后进入量产产能的挑战 前期肯定是在质量上面 后期肯定是在销售方面 我觉得基本上一定程度的产能 相比汽车的这个场景都会小很多 先帮我翻译第一段 谢谢 Thank you for your question This is Xiaophon speaking In terms of robots capacities
versus automobile capacities. From our perspective, we do think that there is quite a large difference between those two. I think that when it comes to the capacities of the supplying chain of robots, it is rather broad and deep. But in our company, we emphasize on multiple areas of full-stack research and development. And I think when it comes to about the challenges of capacities, in the early stage, it is about the quality. And in the later stage, it is about sales. In terms of mass production for 2026, And we expect that by year end of 2026, we will see mass production at scale kicking in. For iron, this product, we believe that we will see the commercialization of the robot itself first starting with our stores. And in 2027, we will see that the commercialization will take place in the different areas of our own self-operated scenarios. and rolling out as well as picking up the speed to external commercialization and the user case scenarios. In terms of R&D, and I think that we are looking at starting from the mid and the second half of next year in 2027, we will pick up the R&D development and the mass production units will be at multiple of several thousand units per month and further picking up the speed.
So I believe that these capabilities of real communication will quickly see that there are more in different sectors of the industry in different sectors, and will go to a more efficient company. Thank you.
One final part that I would like to supplement, which is that for the IRON robot deliveries, and this will mainly be rolled out in the areas of retail and services, both in China and abroad, and same as our automotive business the delivery of our robots and sales will be authentic and genuine data and the figures that we will share in terms of the quality of our robots the services that it can provide i believe that versus the other peers out there in the market when it comes to either the shopping assistance perspective or the intelligence level we will definitely be better and stronger than the others
as well as to be able to be used in a more wider and broader more adaptive environment 感谢小峰总详细的分享 那我第二个问题 因为刚才您也提到的 就是说除了质量之外 就是需求端嘛 所以想请教一下 就是机器人 我目前量产版本 可能预计的一个单台成本 会处于一个什么水平 那计划后续采取 什么样的一个定价策略 My second question is about the unit economics and margin profile. So, what is the estimated unit cost for the mass production variant of iron? And what go-to market pricing strategy does management intend to deploy? And what is the anticipated gross profit margin trajectory, especially after the full-scale ramp? That's my second question.
Thank you. 最终小红的机型的成本竞争力在行业里面肯定是领先的 那么当前中国我们看到机型行业的产品定价通常它跟汽车是不一样的 它是通常差不多是BOM的2.5到3倍 而Alan本身定位在通用能型机型 我相信它具有非常广阔的定价空间 它的供给也相当的稀缺 所以我相信它的硬件的毛利会大幅度高于当前我们的汽车业务的毛利的能力 并且我们在机程里面一定会除了硬件销售之外 我们还会增加对AI模型能力和软件的相关的收入 会提高整体的收入能力 谢谢 Thank you for your question
with respect to the massive produced robots and i think that so we are looking at from the perspective of innovation quality capacity and all of these for both our hardware and the software we're looking at doing the rmd research all in-house and when it comes to the supply chain of all these parts actually over 85 percent of the supply chain partners that we work with actually overlap with the existing supply chain partners for our automotive business. I believe the cost of our robots, iron robots, competitiveness will definitely be leading in this area. At the moment, in terms of the pricing for robots in the market, generally speaking, it's about 2.5 to 3 times of the bomb material. For iron, given that this is a general purpose robot, hence there is a very limited supply apply in the market, and I do believe that for our growth margins of the hardware will definitely be better than the existing automotive business. In the meantime, not only that we are relying on the sales of the hardware, there will also be sales of our different models, and the software services, subscriptions, etc.
These we believe will all bring in profits for our business. 对,以上就是我的对这个问题的答复,谢谢 Those conclude my answers to your question, so thank you Thank you, your next question comes from Ming Sun-Lei with Bank of America Please go ahead 喂,小彭总,您好 那我这边有两个问题也是跟机器人相关 那第一个问题呢,就是我们的机器人的模型 哪些部分可与自动驾驶高度的协同 另外有哪些模块是共同的 然后还有另外是相对独立开发 但我翻译一下我第一个问题 Which part of your robot foundation model can be highly synergistic with automa driving? Which modules are shared and which are developed relatively independently?
Thank you. 比如说一秒钟大概10帧到20帧,例如自动驾驶的能力的模型,另外一个就是慢模型是一个思考的模型,例如一秒钟一帧,那么当前小鹏的汽车里面的模型像VLA,像我们的这一个多模态的模型VLM,都是和基层里面基本上绝大部分都是类似的。 比如说举例,我们的VOA现在正在所研发的在非老航道路,例如地下停车场的漫游功能,那它跟机器人将来在四类的漫游功能上是一个逻辑,那么同时我们也看到机器人里面也有一些模型将来会对汽车里面有产生价值,例如机器人里面的思考的VOT模型,开放平台的系列的模型。 这些在明年或以后也会反过来放到小朋友的汽车体系里面起 那么机程里面上还有很多有趣的模型 比如说全身运控的模型 比如说有多个安全体系的模型 例如针对于数据隐私的安全模型 针对于摔倒或者停快没有电的安全模型等 那么这些是一些独特的模型 整体来说互相都有可共通的点 Thank you for your question.
And in order to answer this question, in our industry, for instance, many people will say that in robots, generally, all they need is one brain and one large model, that will be enough. Perhaps this is possible many years later, but I don't think that is viable as of now. In terms of the different large models, and there are different types. For instance, we have the super-fast models, and those are operating at 100 frames per second or even several hundred frames per second. There are these medium-speed models, large models, which are operating at 10 frames to 20 frames per second. And there are also the slow ones and slow large models. We call them the thinking large models. They operate at one frame per second. When it comes to the VLA and VLM, and for instance, those are the ones adopted in our automotive business, I believe that there are similarities, and for instance, the currently VLA adopted in the automotive business when it comes to the roaming in non-planned roads, and that will be quite similar to the roaming or moving around of the robots. For robots, on the other hand, I also believe that some of the thinking capabilities of robots such as on the open platform next year can also be put into use for our expensive automotive business so you can see that there are definitely some synergistic commonalities there in the meantime there are also some unique perspective and the point of the robots again such as the different mode for safety. And for instance, there are the models of safety such as data privacy and the safety about prevention of folding and data safety about the lack of running out of electricity, etc. So as you can see, there are commonalities and all of these features we are developing under the large X-PONES system altogether. Hence, even so, if we look at the further underlying system, and there are many other areas that are quite dissimilar, for instance, the generation of the generative models, as well as the mimicking and the simulation models, etc.
So those are the similarities. 谢谢,那我的第二个问题 我补充一句,除了模型之外,实际上,无论是AI的音法,数据的管控和组织的音法,实际上在我们这两条线也是共用的。 OK,好,谢谢。 Sorry, before you move on to your second question, and I would also like to supplement that.
Apart from the models in hand, whether it is about the AI applications or the applications of the overall architecture and structure, and these are also the ones that we do share across the two different parts of the business.
That's my second question. It's still related to the machine. If it's compared to other machine companies, the small companies in data collection and training 还有闭环迭代等有哪一些差异化的优势? 我翻译一下 What differentiated advantages does Xperl have in robot data collection training and close-loop iteration? 对 谢谢 非常好的问题 我认为数据将来是物理AI一个非常重要核心 并且取得差异化的一个核心的价值
那么很多人说 如果机场有了足够的数据 他就可以做到很好 他可能是必要条件 但一定不是充分条件 他今天做自动驾驶的 汽车的公司非常多 但是能够做好自动驾驶的很少 所以我相信 如何把数据 进行好的使用 包括他的质量 多样性管理 以及训练 是最重要的一个事情 那么我觉得小鹏在机器人的数据 跟小鹏的自动驾驶的数据 实际上我觉得一个非常核心 重要的事情是小鹏 是拥有长达十年的自动驾驶 研发的经验 数据的经验 并且我们已经形成了 我认为在从这个月底 我们的版本做到了 在行业里面最领先的能力 我觉得这是最重要的 其次我们机器人的数据的管理 数据的训练 数据的整个的应发体系也跟小空的汽车是完全在一个体系里面一个体系内进行研发的 我们仅仅在数据的采集数据的采集的硬件等系列的事情跟汽车不一样 所以我是非常相信我们的数据的从采集到使用的全闭环的能力都是很强 所以随着小鹏Iran率先的量产 我反而会认为后面小鹏会收集到更多真实场景的数据 和人类使用Iran他所需要的视角数据 那么这一系列数据我们全部都是高质量数据 我认为今天很多低质量的数据的价值会使整个的精度下降
我们需要用高质量的数据形成数据模型应用的非能效应 Thank you, that is a great question, and I do believe that in terms of the physical AI and in the future, and data is of course the key. Many people say that as long as you have enough data, and that will help with the integration of the services. It is a necessary condition, however, it is not yet the full condition, and what we would see is that But for Xpeng, what we are good at is that we have much better data, and the training of the data, we also have a higher quality of the data. For Xpeng, for instance, we have been in the area of autonomous driving for over 10 years. Within not only our R&D for the past over a decade of experience, as well as the data that we have collected, we are absolutely leading in the industry among our peers. In terms of the robots, it is the same. For the robots, data management, data training, and data quality, all of these are being developed under the same ecosystem at our company. And I believe that apart from the hardware being different in terms of the collection of the data and all the way to the application of the data at our company for our two different lines of business, it would be the same. For IRAN, again, once these products become mass-produced and launched into the market, not only that, we will be further continuing to collect real-world data, as well as the human-demonstrated data, which are both sets of high-quality data, and this will further drive the development and R&D of our products. and this is different from the low-quality data and which are not helpful at all. So I believe that by having all of these, we'll actually be able to create a flywheel of the high-quality data and the R&D that we are conducting and continue to contribute to the development of our products. That's all my answer for your question.
Thank you, Xiaopong. That's all my question.
Operator
The next question comes from Jeff Chang with Citi. Please go ahead.
My first question is about the why I did expand robotics, select the salesperson, the tour guide scenario as an initial real-world deployment, who are the target customers, why would customers buy ION, and most importantly, are there follow-up plans to expand into industrial and home use cases?
Thank you. 很多人会说他可能是从工厂进入,或者从家庭进入,并且是以2B的角度,我们认为实际上目标客户是大C中小B,我们先认为是从商业进入,当然商业进入之后我们也会进入工业和家庭,我们会用非常非常少的SKU来实现这样一个场景。 那么为什么从商业从刚开始从三岛进入 我觉得一个最重要的一个能力 就是我们把我们的机器人的全面的综合能力分为四大能力 我们认为在中国和海外商业的体系里面 最容易的是将整个的这四个我们小红的 包括了本体的能力 包括了我们的环境的能力 包括我们的业务的能力 和我们的整个的情绪价值的综合的能力 把这四个能力的融合 我们认为在商业化是最有可能服务于千行百业 当然首先从少部分的行业开始 同时我们会开放 我们的Ellen在使用之后 我们会开放SDK 支持S开发和生态功能的拓展 所以这些都是我们在下一个阶段也做的事情 那么通过商业上的合作 So we will see that 小鹏的机器人
那么我们的客户 希望是通过线上跟线下的 直接的大11和中小P的客户 我相信这会是一个非常有价值的 全新的跟现在其他机器人 也不一样的一个商业的销售逻辑
Thank you very much for your question For Xpon's robots Yes, indeed. When it comes to commercialization, we have gone down a different route versus other competitors. Many other competitors, they are focusing on breaking into the market by ways of entering into factories, home usage, and mainly for to-be business. What we are looking at is that we are focusing on the large-scale Cs as well as the small and medium Bs. And that is, so to speak, we start entering into the market with business commercialization cases followed by industries and home uses at a later stage with a smaller SKUs. The reason we have picked the salespersons and tour guides, etc., it is because we believe both in China and abroad there are four major comprehensive capabilities of our robots that are very helpful and would be able to be reflected very well in these sectors. And the four comprehensive capabilities are as follows. Number one is the main body and the main hardware of the robot itself. Number two, the environment. Number three, the business that it provides. And number four, the emotional values that it brings. Therefore, starting from commercial usage cases, and starting from the smaller type of business, and the smaller and medium type of business industries that we go in, And later on with IRON, of course, when it starts opening up the market and we will also open up SDKs to enable secondary development as well as further expand its user cases. With these commercial use scenarios for collaboration, and we believe that this will also open up more channels for expensive robots business, not only for offline sales, but as well as for online sales, so that our customers would be able to see the use cases for our robots and not only for the big customers, but as well as for the small and medium business. So this is our thinking in the regard and which is different from our peers.
可以共享小鹏的整体渠道 并且会创造新的线上销售的渠道
The second question is about the latest progress on the company's self-developed death stress hand, what overall design approach has been adopted, and how does it compare with peers in terms of performance and cost? Thank you, 小分钟.
我们会在今年年底跟艾伦的整机 一样进行规模量产 而且我们不光研发 我们还在林乔手的生产制造里面 投入了大量的工艺跟装备的相关的工作 那么我们的林乔手会用直取 每只手有21个自由度 我们的尺寸厚度 与成年的真能的手基本上一样 那么 我相信我们的 凝加手在负重抓握 能力等都 处于行业的领先 我们并没有用 行业里面现在有很多人在 讨论的健身手 我们认为他在当前 并不是一个优秀的 选择 所以我们在做手的时候 我们并不追求 很高的力量 或者很强的精度 我们是关注更平衡的能力 例如安全 我们甚至连凝巧手的手的皮肤 都正在做研发 我们关注了成本 关注了可靠性 关注了可维修性快换 关注了量产的一次性 包括我们做生产制造 所以我们期望是在平衡的基础上 把凝巧手能够进行规模量产 谢谢 Thank you very much for your question And yes, indeed, Dexter's hand is an extremely important part for robots.
And for our robots, we have one set of hardware, one set of software, as well as three sets of different perceptive systems. In terms of the specific mass production plans, we will be communicating with the analyst by year end. And we are not only just conducting the R&D of a dexterous hand, and we have also invested greatly into the manufacturing of the processing of dexterous hands as well as the equipment in this regard. The dexterous hand for our robot's hand, we have 21 degrees of freedom, as mentioned earlier. In terms of the size of the product, of the dexterous hand, it is the exact same size as the hand of an adult. And when it comes to the load-bearing capabilities as well as grasping and gripping, we believe that our dexterous hand is in the leading position versus the other peers. I know that in the industry that people often talk about another type of hand, and we do not think that is the smart choice to go for. We are not focusing on the force or the accuracy itself of a dexterous hand, and what we are focusing on rather is on striking a good balance of safety, reliability, easy to maintain, and cost. And for instance, our Dexter's hand also has a very nice set of skin that is very similar to the human hand.
Operator
Your next question comes from Nick Lay with JP Morgan. Please go ahead.
好的,谢谢,让我提问题. 我提问题有关这个ADIS的DLA的业务, 那刚刚小朋友有提到说DLA的业务就是2.0年在海外会不会上市, 那想知道说是在初步是哪些车型的规划, 还是说明年在海外推送的事情都会有A2.0的技术 同时当然有提到说商业模式海外会考虑订阅跟单独收费 这个是特别是可以跟我们分享一下 同时今天在海外的运动 仍有机会中长期我们这个技术 使用驾驶技术的能力可以跟其他主机场合作 更创造这个收入跟获利的潜在的上行空间 And the first question is really about the data technology. Chairman mentioned that in the first half of 2017, we'll start to deploy a model in overseas market, potentially starting from Germany with VLA 2.0 technology. I wonder how many models will be equipped with such technology in overseas market and also can we deliberate a bit more about our business models, including subscription and one-time payment strategy in a long-term in all the system markets.
Thank you. Because the signal is not very clear, so I can probably hear it. And I'll quickly repeat it. I want to say that the L03 is equipped with the L03 currently in the海外. So after all of the cars that are released, we will all have our OCHER in the海外. This is what I want to say. 第一个是那么也就意味着我们的具备VA的硬件能力会覆盖L03跟之后所有的车型跟市场 我们目前的进展是非常的顺利的 实际上包括刚刚所说的法规的准备以及我们在本地化的开始相关的测试 我们的确正在探索商业软件订阅的商业模式 那么我们会在折击开始会宣布
在跟我们探讨如何将我们的VLA 甚至其他相关的能力走向全球 谢谢
Thank you very much for your question Given that the signal wasn't coming through very clearly and I could only hear some keywords of your questions So, I'll try my best to answer your question based on what I have heard. Number one, with respect to the Turing AI chips, hence, this has already been deployed to our L03 vehicles for the ones that are launched to the overseas market as well. And all of these will have the ultra version. For VLA, hence, this will be deployed in L03 models across all different markets. And in the meantime, we're also catching up and working with the compliance and local laws and regulations and localization work, testing. All of these are being done at the same time in tandem. And in the meantime, we are looking at, for instance, about the subscription service of the softwares for our customers and such updates will be announced and shared with you all in due course. We have also established another BD team, and this team is actively discussing with our partners and with respect to the VLA usage or even further expanded into other areas. Thank you.
并且我们也正在成立了相关的BD团队 当前已经有多家的合作伙伴
Operator
Your next question comes from Tina Hu with Goldman Sachs. Please go ahead.
Thank you for your question. 把这个人型机器人和车的业务,两个业务的一个就是利润可能未来后续拆开来报,这样的话可能能给到投资人和市场可能有更清晰的对两个业务的一个财务方面的一个认知吧。 So my first question is regarding, so with the volume production of our humanoid robot product and also congratulations on the announced equity raising today. Just wondering what would be the expected timeline of profitability for humanoid robot business? Or in other words, what level of sales volume should we achieve in order to become profitable? Also related to that, do we have any plans to report our profit level separately for the humanoid robot as well as the auto business so that I think the market investors could have a better understanding of the profitability of these two separate businesses? Thank you.
Hey, Tina, it's Brian. Let me address your question. With regard to the financial outlook of the robotic business, I think it's a bit too early for us to comment. I would say we are now focused on the milestones that Xiaofeng shared, which is reach SOP for our robots for volume production capability capability by the end of this year and also start deploying first in our internal scenarios and gradually offer to external customers starting, I would say, the first half of next year and gradually ramp up from that. So that's our goal. I would say it's too early for us to provide a volume prediction guidance. On the probability, we anticipate the product of a human robot will achieve much higher gross profit potential compared to the automotive business. In fact, I would say the hardware is already much higher than the automotive business. In addition to that, we think there will be significant opportunities to add on future AI model, training, upgrade, software capability, related revenues, which is much higher margin as well. So given the high profitability, I would say expectation, as well as I would say much smaller investment and capex requirements for robotic business, I would say once volume rampant is achieved, I would say probability can become reality much faster than the auto business. So that's our projection. And also to answer your question regarding the potential separation of the businesses, at the moment, actually, the businesses are operating together. In fact, we have not started any separation of the business. We obviously, According to the announcement you saw, we actually have a period of 18 months that gradually allows us to achieve a separation. But in the meantime, what we're going to be focused on is still achieving high degrees of synergy because we talked about leveraging the capabilities in AI, the capability of advanced manufacturing, powertrain, supply chain, so forth. So, actually, the two businesses can both achieve high efficiency and greater capabilities. So, with that, I think the near-term expectation is it will still be mostly viewed as together, as business. And also, as the volume production and also as the commercialization scenarios become more clear, we'll probably think about more likely separations. But in any event, given the ownership structure, this business will be 100% consolidated. It will not impact our financials going forward, even though the business may start to separate based on the plan. So I think in short, we still see the group consolidating all the financials of the robotic business. and at the same time we'll really think about the most efficient and also most synergistic way to run the business. Thank you.
Operator
Thank you. That concludes the question and answer session. Now I'd like to turn the call back over to the company for closing remarks.
Thank you once again for joining us today. If you have further questions, please feel free to contact Expo's IR team through the contact information provided on our website for the piece of financial communications.
Operator
This concludes today's conference call. You may now disconnect your line. Thank you.
