0001193125-22-125161 | 20-F | XBRL Viewer

Recent Accounting Pronouncements

3.	Recent Accounting Pronouncements

Recently adopted accounting pronouncements

In December 2019, the FASB issued ASU

No. 2019-12,

Simplifying the Accounting for Income Taxes, as part of its initiative to reduce complexity in accounting standards. The amendments in the ASU are effective for fiscal years beginning after December 15, 2020, including interim periods therein. Early adoption of the standard is permitted, including adoption in interim or annual periods for which financial statements have not yet been issued. The Group adopted the ASU on January 1, 2021, which did not have a material impact on the Group’s financial results or financial position.

In January 2020, the FASB issued ASU

No. 2020-01,

Investments—Equity Securities (Topic 321), Investments—Equity Method and Joint Ventures (Topic 323), and Derivatives and Hedging (Topic 815)—Clarifying the Interactions between Topic 321, Topic 323, and Topic 815 (a consensus of the Emerging Issues Task Force). The amendments in this update clarify the interaction of the accounting for equity securities under Topic 321 and investments accounted for under the equity method of accounting in Topic 323 and the accounting for certain forward contracts and purchased options accounted for under Topic 815. For public business entities, the amendments in this Update are effective for fiscal years beginning after December 15, 2020, and interim periods within those fiscal years. For all other entities, the amendments are effective for fiscal years beginning after December 15, 2021, and interim periods within those fiscal years. Early adoption is permitted. The Group adopted the ASU on January 1, 2021, which did not have a material impact on the Group’s financial results or financial position.

Recently issued accounting pronouncements not yet adopted

In March 2020, the FASB issued ASU

No. 2020-04,

Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting. The amendments in this update are effective for all entities as of March 12, 2020 through December 31, 2022. The amendments in this update provide optional expedients and exceptions for applying generally accepted accounting principles (“GAAP”) to contracts, hedging relationships, and other transactions affected by reference rate reform if certain criteria are met. The ASU is currently not expected to have a material impact on the Group’s financial results or financial position.

In November 2021, the FASB issued ASU No. 2021-10, Government Assistance (Topic 832). This ASU requires business entities to disclose information about government assistance they receive if the transactions were accounted for by analogy to either a grant or a contribution accounting model. The disclosure requirements include the nature of the transaction and the related accounting policy used, the line items on the balance sheets and statements of operations that are affected and the amounts applicable to each financial statement line item and the significant terms and conditions of the transactions. The ASU is effective for annual periods beginning after December 15, 2021. The disclosure requirements can be applied either retrospectively or prospectively to all transactions in the scope of the amendments that are reflected in the financial statements at the date of initial application and new transactions that are entered into after the date of initial application. The ASU is currently not expected to have a material impact on the Group’s financial results or financial position.

The entire disclosure for change in accounting principle. Includes, but is not limited to, nature, reason, and method of adopting amendment to accounting standards or other change in accounting principle.

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Reference 30: http://www.xbrl.org/2003/role/disclosureRef
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Reference 32: http://www.xbrl.org/2003/role/disclosureRef
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Reference 33: http://www.xbrl.org/2003/role/disclosureRef
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Reference 34: http://www.xbrl.org/2003/role/disclosureRef
-Topic 848
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Deferred Revenue Disclosure [Abstract]

CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' (DEFICIT) EQUITY - CNY (¥) ¥ in Thousands	Total	IPO [Member]	Follow On Offering [Member]	Global Offering [Member]	Cumulative Effect, Period of Adoption, Adjustment [Member]	Ordinary Shares [Member]	Ordinary Shares [Member] IPO [Member]	Ordinary Shares [Member] Follow On Offering [Member]	Ordinary Shares [Member] Global Offering [Member]	Treasury Shares [Member]	Additional Paid-in Capital [Member]	Additional Paid-in Capital [Member] IPO [Member]	Additional Paid-in Capital [Member] Follow On Offering [Member]	Additional Paid-in Capital [Member] Global Offering [Member]	Statutory Reserve [Member]	Accumulated Other Comprehensive Loss [Member]	Accumulated Deficit [Member]	Accumulated Deficit [Member] IPO [Member]	Accumulated Deficit [Member] Cumulative Effect, Period of Adoption, Adjustment [Member]
Beginning balance at Dec. 31, 2018	¥ (2,185,225)					¥ 30				¥ (9)	¥ 0					¥ (2,980)	¥ (2,182,266)
Beginning balance (Shares) at Dec. 31, 2018						463,189,950				(113,775,900)
Share-based compensation, value	517										517
Share-based compensation, shares										13,333,325
Accretion on convertible redeemable Preferred Shares to redemption value as of the completion of the IPO	(961,050)										(10,486)						(950,564)
Deemed contribution from repurchase of Preferred Shares	9,969										9,969
Foreign currency translation adjustment, net of nil tax	(2,968)															(2,968)
Net loss	(3,691,673)																(3,691,673)
Ending balance at Dec. 31, 2019	(6,830,430)				¥ (2,074)	¥ 30				¥ (9)	0					(5,948)	(6,824,503)		¥ (2,074)
Ending balance (Shares) at Dec. 31, 2019						463,189,950				(100,442,575)
Share-based compensation, value	57,875									¥ 1	57,874
Issuance of ordinary shares, value		¥ 11,409,248	¥ 15,980,227			¥ 5	¥ 16	¥ 7		¥ (5)		¥ 11,409,232	¥ 15,980,220
Issuance of ordinary shares, shares						60,687,680	229,386,666	110,400,000		(60,687,680)
Accretion on convertible redeemable Preferred Shares to redemption value as of the completion of the IPO	(2,157,744)	¥ (2,157,744)										¥ (393,883)						¥ (1,763,861)
Deemed contribution from repurchase of Preferred Shares	0
Repurchase of ordinary shares, value						¥ (9)				¥ 9
Repurchase of ordinary shares, shares						(100,442,575)				100,442,575
Issuance of ordinary shares for the vested restricted share Units, value						¥ 1					(1)
Issuance of ordinary shares for the vested restricted share Units, shares						14,850,560
Share-based compensation due to vesting of restricted shares, shares										17,643,400
Share-based compensation due to vesting of restricted share Units	544,659										544,659
The immediate vesting of Restricted Share Units upon grant date	393,883										393,883
Conversion of Preferred Shares to ordinary shares upon the completion of the IPO, value	18,490,583					¥ 55					18,490,528
Conversion of Preferred Shares to ordinary shares upon the completion of the IPO, shares						801,733,385
Foreign currency translation adjustment, net of nil tax	(724,433)															(724,433)
Net loss	(2,731,985)																(2,731,985)
Ending balance at Dec. 31, 2020	34,429,809					¥ 105				¥ (4)	46,482,512				¥ 0	(730,381)	(11,322,423)
Ending balance (Shares) at Dec. 31, 2020						1,579,805,666				(43,044,280)
Share-based compensation, value	379,948										379,948
Issuance of ordinary shares, value				¥ 13,118,085					¥ 6					¥ 13,118,079
Issuance of ordinary shares, shares									97,083,300
Accretion on convertible redeemable Preferred Shares to redemption value as of the completion of the IPO	0
Deemed contribution from repurchase of Preferred Shares	0
Issuance of treasury shares, value						1				(1)
Issuance of treasury shares, shares						¥ 9,396,714				¥ (9,396,714)
Issuance of ordinary shares for the vested restricted share Units, value						¥ 1				¥ 4	(5)
Issuance of ordinary shares for the vested restricted share Units, shares						26,471,648				40,569,304
Foreign currency translation adjustment, net of nil tax	(918,168)															(918,168)
Net loss	(4,863,096)																(4,863,096)
Appropriations to statutory reserve															6,047		(6,047)
Ending balance at Dec. 31, 2021	¥ 42,146,578					¥ 113				¥ (1)	¥ 59,980,534				¥ 6,047	¥ (1,648,549)	¥ (16,191,566)
Ending balance (Shares) at Dec. 31, 2021						1,712,757,328				(11,871,690)

Deferred Revenue

12 Months Ended

Dec. 31, 2021

Deferred Revenue Disclosure

. Deferred Revenue

The following table shows a reconciliation in the current reporting period related to carried-forward deferred revenue.


	For the Year Ended December 31,
	2019			2020			2021
Deferred revenue - beginning of year		2,366			85,498			308,384
Additions		1,865,564			5,297,728			19,339,153
Recognition		(1,782,432	)		(5,074,842	)		(18,750,249	)

Deferred revenue - end of year		85,498			308,384			897,288

Deferred revenue represents the transaction price allocated to the performance obligations that are

not yet satisfied

, which primarily arises from the undelivered vehicles, charging piles, free

battery

charging within 4 years or 100,000 kilometers, the extended lifetime warranty, option between household charging pile and charging card, services of lifetime free

battery

charging in XPeng-branded charging station, lifetime warranty of battery as well as vehicle internet connection services, with unrecognized deferred revenue balance of RMB85,498, RMB308,384 and RMB897,288 as of December 31, 2019, 2020 and 2021, respectively.

The Group expects that 47% of the transaction price allocated to unsatisfied performance obligations which were accounted for as deferred revenue as of December 31, 2021 will be recognized as revenue during the period from January 1, 2022 to December 31, 2022. The remaining 53% will be substantially recognized during the period from January 1, 2023 to December 31, 2031.

Restricted Net Assets

12 Months Ended

Dec. 31, 2021

Restricted Net Assets [Abstract]

Restricted Assets Disclosure

29.	Restricted Net Assets

The Group’s ability to pay dividends is primarily dependent on the Group receiving distributions of funds from its subsidiaries. Relevant PRC statutory laws and regulations permit payments of dividends by the Group’s subsidiaries, consolidated VIEs and VIEs’ subsidiaries incorporated in the PRC only out of their retained earnings, if any, as determined in accordance with PRC accounting standards and regulations. The results of operations reflected in the financial statements prepared in accordance with U.S. GAAP differ from those reflected in the statutory financial statements of the Group’s subsidiaries.

In accordance with the PRC Regulations on Enterprises with Foreign Investment, a foreign invested enterprise established in the PRC is required to provide certain statutory reserve funds, namely general reserve fund, the enterprise expansion fund and staff welfare and bonus fund which are appropriated from net profits as reported in the enterprise’s PRC statutory financial statements. A foreign invested enterprise is required to allocate at least 10% of its annual

after-tax

profits to the general reserve fund until such reserve fund has reached 50% of its registered capital based on the enterprise’s PRC statutory financial statements. Appropriations to the enterprise expansion fund and staff welfare and bonus fund are at the discretion of the board of directors for all foreign invested enterprises. The aforementioned reserved funds can only be used for specific purposes and are not distributable as cash dividends.

Additionally, in accordance with the Company Law of the PRC, a domestic enterprise is required to provide statutory surplus fund at least 10% of its annual

after-tax

profits until such statutory surplus fund has reached 50% of its registered capital based on the enterprise’s PRC statutory financial statements. A domestic enterprise is also required to provide discretionary surplus fund, at the discretion of the board of directors, from the net profits reported in the enterprise’s PRC statutory financial statements. The aforementioned reserve funds can only be used for specific purposes and are not distributable as cash dividends.

As a result of these PRC laws and regulations that require annual appropriations of 10% of net

after-tax

profits to be set aside prior to payment of dividends as general reserve fund or statutory surplus fund, the Group’s PRC subsidiaries, consolidated VIEs and VIEs’ subsidiaries are restricted in their ability to transfer a portion of their net assets to the Company.

Amounts restricted include

paid-in

capital and statutory reserve funds, less accumulated deficit if as determined pursuant to PRC GAAP, totaling approximately RMB27,751,253 and RMB41,040,036 as of December 31, 2020 and 2021, respectively; therefore in accordance with Rules

4-08

(e) (3) of Regulation

S-X,

the condensed parent company only financial statements as of December 31, 2020 and 2021 and for the years ended December 31, 2019, 2020 and 2021 are disclosed in Note 3

Summary of Significant Accounting Policies - Additional Information (Detail)
¥ in Thousands

3 Months Ended

12 Months Ended

Dec. 31, 2020

CNY (¥)

Mar. 31, 2020

CNY (¥)

Dec. 31, 2021

CNY (¥)

Kilometers

Dec. 31, 2020

CNY (¥)

Dec. 31, 2019

CNY (¥)

Allowance for credit loss on accounts receivable charged to income statement

¥ 2,332,145

¥ 609,975

¥ 2,332,145

69,731

10,039

Allowance for credit loss on accounts receivable current

8,220

34,198

8,220

Allowance for credit loss on accounts receivable non current

4,287

32,898

4,287

Short-term investments

¥ 2,820,711

2,833,763

2,820,711

Inventory write-downs

162,433

92,612

¥ 109,505

Land use rights amortisation period

50 years

Research and development expenses

^[1]

4,114,267

1,725,906

2,070,158

Advertising costs

873,256

517,135

168,170

Selling and marketing expenses total

4,276,366

1,737,765

668,602

Employer contribution to defined contribution plan

466,444

152,361

215,046

Dividend declared

¥ 0

General and Administrative Expense

1,029,067

1,182,884

495,967

Short-term deposits

979,897

25,858,007

979,897

Long-term deposits

3,217,266

Impairment of indefinite-lived intangible assets

¥ 0

Other income other subsidies

350,596

86,830

12,294

Relocation and disposal costs

132,856

Other income government subsidies

214,486

Advance repayment of long term borrowing

¥ 700,000

License Of Maintenance And Overhauls [Member]

Finite-Lived Intangible Asset, Useful Life

26 months

Bank Deposits for Letter of Credit Bank Notes and a Forward Exchange Contract [Member]

Deposits Restriction Subject to Settlement of Dispute [Member]

2,296,560

¥ 600,058

2,296,560

General Reserve Fund [Member]

35,585

¥ 9,917

35,585

Percentage of the after tax profits allocatable to statutory general reserve fund

10.00%

Appropriations to general reserve fund and statutory surplus fund

¥ 6,047

Minimum [Member] | Software and Software Development Costs [Member]

Finite-Lived Intangible Asset, Useful Life

2 years

Minimum [Member] | Leaseholds and Leasehold Improvements [Member]

Property, Plant and Equipment, Useful Life

2 years

Minimum [Member] | General Reserve Fund [Member]

Statutory reserves as a percentage of the reserved capital of the company

50.00%

Maximum [Member] | Software and Software Development Costs [Member]

Finite-Lived Intangible Asset, Useful Life

10 years

Maximum [Member] | Leaseholds and Leasehold Improvements [Member]

Property, Plant and Equipment, Useful Life

10 years

Common Class A [Member] | Two Thousand And Nineteen Equity Incentive Plan [Member]

Share based compensation by share based payment arrangement number of shares authorised | shares

161,462,100

CHINA

Customer Upgrade Programme [Member]

Short-term deposits

¥ 979,897

¥ 25,858,007

979,897

Period of validity of loyalty scheme offered

5 years

Period within which customers have to accept the loyalty scheme offered

30 days

Vehicles [Member]

Distance for the vehicle used for which warranty is given | Kilometers

Product warranty period

4 years

100,000

Cost of Sales [Member]

Operating Expense [Member]

Inventory write-downs

¥ 162,433

92,612

109,505

Gain loss on the disposal of propery plant and equipment

¥ 36,508

¥ 6,167

¥ 1,191

[1]	Share-based compensation was allocated in operating expenses as follows:

Organization and Nature of Operations - Summary of Company's Principal Subsidiaries and VIEs (Parenthetical) (Detail) ¥ in Thousands			12 Months Ended
	Jan. 04, 2022 CNY (¥)	Feb. 13, 2020 CNY (¥)	Dec. 31, 2021 CNY (¥)	Dec. 31, 2020 CNY (¥)	Dec. 31, 2019 CNY (¥)	Feb. 13, 2020 $ / shares
Statement Lineitem [Line Items]
Percentage of Equity interest subscribed						50.00%
Capital contribution representing a notional amount		¥ 0	¥ 50,000	¥ 0	¥ 0
Subsequent Event [Member]
Statement Lineitem [Line Items]
Percentage of Equity Interest Transferred	50.00%
Cash Consideration	¥ 1
Share Transfer Agreement [Member]
Statement Lineitem [Line Items]
Percentage of equity interest agreed to transfer as per agreement						50.00%
Share price \| $ / shares						$ 1
Chengxing [Member]
Statement Lineitem [Line Items]
Equity interest acquired, percentage			100.00%

Organization and Nature of Operations

12 Months Ended

Dec. 31, 2021

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Organization and Nature of Operations

1.	Organization and Nature of Operations

(a) Principal activities

XPeng Inc. (“XPeng” or the “Company”) was incorporated under the laws of the Cayman Islands on December 27, 2018, as an exempted company with limited liability. The Company, its subsidiaries and consolidated variable interest entity (“VIE”) and VIE’s subsidiaries (“VIEs”, also refer to VIE and its subsidiaries as a whole, where appropriate) are collectively referred to as the “Group”.

The Group designs and develops smart electric vehicles. It delivered its first model of smart electric vehicles, G3, commercially in December 2018, and delivered its second model of smart electric vehicles, a four-door sports sedan, P7, since May 2020. It delivered the G3i, the new

mid-cycle

facelift version of the G3, since August 2021, and delivered its third model of smart electric vehicles, a family sedan featured with LiDAR, P5, since September 2021. It manufactures the P7, the G3i and the P5 through its own plant in Zhaoqing. As of December 31, 2020 and 2021, its primary operations are conducted in the People’s Republic of China (“PRC”).

(b) History of the Group and Reorganization

The Group commenced its operation through Guangzhou Chengxing Zhidong Automotive Technology Co., Ltd. (“Chengxing”) since 2015, Chengxing was founded by Mr. Heng Xia, Mr. Tao He and Mr. Xiaopeng He (collectively the ‘‘Founders’’), and subsequently obtained financing from various third party investors (collectively ‘‘Third Party Investors’’) from 2016 through 2018.

In preparation for its IPO, the Group completed a reorganization (the ‘‘Reorganization’’) in September 2019, which involved the following steps:

•

On December 27, 2018, the Company was established under the laws of the Cayman Islands as an exempted company with limited liability.

•

On January 7, 2019, XPeng Limited was incorporated in British Virgin Islands as a wholly owned subsidiary of the Company.

•

On February 21, 2019, XPeng (HK) Limited was incorporated in Hong Kong as a wholly owned subsidiary of XPeng Limited.

•

On June 21, 2019, Guangdong Xiaopeng Motors Technology Co., Ltd. (‘‘WFOE’’) was established as a wholly owned subsidiary of XPeng (HK) Limited in the PRC.

•

In September 2019, the Company issued 17,897,478 ordinary shares, 2,021,635 Series A Preferred Shares, 1,859,082 Series A1 Preferred Shares, 23,343 Series A2 Preferred Shares, 3,198,839 Series B Preferred Shares, 4,361,678 Series B1 Preferred Shares, 1,045,497 Series B2 Preferred Shares, 3,183,626 Series C Preferred Shares and 7,612,147 warrants in aggregate, to the existing shareholders of Chengxing, based on their respective equity interests in Chengxing. Concurrently, as a transitional arrangement and part of the Reorganization, a series of contractual agreements were entered into among WFOE, Chengxing and its existing shareholders, including the exclusive business cooperation agreement, the equity pledge agreement, the exclusive option agreement and the power of attorney. Consequently, WFOE became the primary beneficiary of Chengxing. In May 2020, WFOE exercised its rights under the contractual

arrangements

and purchased 100% of Chengxing. Consequently, Chengxing became an indirect wholly owned subsidiary of XPeng Inc.

The equity interests held by the existing shareholders in the Company after the Reorganization are the same as the equity interests held by them in Chengxing before the Reorganization. Out of the equity interests issued, 43.44%, 38.09% and 18.47% were in the form of ordinary shares, Preferred Shares and warrants, respectively.

Prior to the Reorganization, the shareholders of Chengxing included individual shareholders and institutional shareholders. Pursuant to laws applicable to PRC residents and entities incorporated in the PRC, PRC individuals should complete registration of its outbound investments (i.e. the foreign exchange registration under State Administration of Foreign Exchange (“SAFE”) Circular 37), and PRC institutional investors should complete its statutory filings and foreign exchange registrations for outbound investment (i.e. ODI), respectively, before such PRC residents or entities’ can legally own offshore investments or equity interests in offshore entities. As such, all PRC individual shareholders and PRC institutional shareholders of Chengxing were required to complete their relevant registrations and/or statutory filings, as appropriate, before they could, in accordance with applicable PRC laws, hold directly or indirectly the ordinary shares of the Company, which is incorporated under the laws of the Cayman Islands. The warrants were to reflect the holder’s (indirect) rights, obligations and interest in the Company as if the holders were holding Preferred Shares of the Company before the holders complete their necessary registration for outbound investment to exercise their warrants into Preferred Shares of the Company. After the holders had completed the necessary registration for outbound investment, the holders were required to exercise the warrants immediately at a nil price per share. The warrants were also transferrable by the holder subject to approval of the Company’s board of directors. Accordingly, the warrants had been accounted for and presented based on the terms on the underlying Preferred Shares that the warrants were exercisable into (see Note 21).

The shareholders and their respective equity interest in the Company remained the same immediately before and after the Reorganization. Further, the Company, being the holding company after the Reorganization, is a newly established shell company. Accordingly, the Company determined that the Reorganization lacks substance and should be treated as a

non-substantive

merger with no change in the basis of assets, liabilities and shareholders’ deficits of Chengxing.

On March 20, 2020, the Company completed a 1:25 share split of all of its ordinary and Preferred Shares of the Company. All shares and per share amounts presented in the consolidated financial statements have been retrospectively adjusted to reflect the share split.

In August and December 2020, the Company completed its initial public offering (“IPO”) and follow-on offering (“FO”) on the New York Stock Exchange (“NYSE”) (Note 22).

In July 2021, the Company completed its global offering (“Global Offering”), including the Hong Kong Public Offering and the International Offering, on the Hong Kong Stock Exchange (“HKEX”) (Note 22).

As of December 31, 2021, the Company’s principal subsidiaries and VIEs are as follows:

Principal subsidiaries

Place of

incorporation

Date of
incorporation or
acquisition

Equity
interest
held

Principal activities

Chengxing

(1)

PRC

January 09,
2015

100

Investment holding

Guangzhou Xiaopeng Motors Technology Co., Ltd.(“Xiaopeng Technology”)

PRC

May 12,

2016

100

Design and technology
development

Guangzhou Xiaopeng Automobile Manufacturing Co.,
Ltd.

PRC

April 07,

2017

100

Manufacturing of vehicles

Zhaoqing Xiaopeng New Energy Investment Co., Ltd.(“Zhaoqing Xiaopeng New Energy”)

(2)

PRC

February 13,

2020

Manufacturing of vehicles

Zhaoqing Xiaopeng Automobile Co., Ltd.(“Zhaoqing
XPeng”)

PRC

May 18,

2017

100

Manufacturing of vehicles

Xiaopeng Automobile Sales Co., Ltd.

PRC

January 08,

2018

100

Vehicle wholesale and retail

Beijing Xiaopeng Automobile Co., Ltd.

(“Beijing Xiaopeng”)

PRC

April 28,

2018

100

Vehicle wholesale and retail,
design and technology
development

Shenzhen Xiaopeng Automobile Sales Service Co., Ltd.

PRC

August 06,

2018

100

Vehicle wholesale and retail

Shanghai Xiaopeng Automobile Sales Service Co., Ltd.

PRC

October 10,

2018

100

Vehicle wholesale and retail

Guangzhou Xiaopeng Automatic Driving Technology Co., Ltd

PRC

November 18,

2019

100

Technology development

Shanghai Xiaopeng Motors Technology Co., Ltd.

PRC

February 12,

2018

100

Technology development
and vehicle retail

Guangzhou Xiaopeng Smart Charging Technology Co. Ltd.

PRC

June 22,

2020

100

Smart charging technology
development

XSense. AI, Inc.

United States

November 27,

2018

100

Technology development

XMotors. AI, Inc.

United States

January 05,
2018

100

Technology development

XPeng (Hong Kong) Limited

Hong Kong

February 12,

2019

100

Investment holding

(1)

As a transitional arrangement and part of the Reorganization, a series of contractual agreements were entered into among WFOE, Chengxing and its existing shareholders, including the exclusive business cooperation agreement, the equity pledge agreement, the exclusive option agreement and the power of attorney. Consequently, WFOE became the primary beneficiary of Chengxing. In May 2020, WFOE exercised its rights under the contractual arrangement and purchased 100% of Chengxing. Consequently, Chengxing became an indirect wholly owned subsidiary of XPeng Inc.

(2)

On February 13, 2020, Zhaoqing Xiaopeng New Energy was established by (i) Zhaoqing XPeng, which is a wholly owned subsidiary of the Company, and (ii) Zhaoqing Kunpeng Motor Technology Co., Ltd. (“Zhaoqing Kunpeng”), which is jointly owned by two shareholders of the Company. Each of Zhaoqing XPeng and Zhaoqing Kunpeng subscribed for 50% of the equity interest of Zhaoqing Xiaopeng New Energy, with Zhaoqing Kunpeng’s capital contribution representing a nominal amount of RMB0 Yuan. Zhaoqing Xiaopeng New Energy holds a license for the manufacture of EVs and smart EVs which was approved by the Ministry of Industry and Information Technology (‘MIIT”). Pursuant to the terms of the arrangement, Zhaoqing Kunpeng does not have substantive participating rights to and is not entitled to any economic interest in Zhaoqing Xiaopeng New Energy. Therefore, Zhaoqing Xiaopeng New Energy has historically been consolidated by the Company as Zhaoqing XPeng substantially controls the entity’s assets and operating activities and bears fully all risks and rewards of ownership.

On February 13, 2020, Zhaoqing XPeng and Zhaoqing Kunpeng entered into a share transfer agreement, among which Zhaoqing Kunpeng agreed to transfer the 50% of the equity interest in Zhaoqing Xiaopeng New Energy to Zhaoqing XPeng at the price of the higher of (i) RMB1 Yuan or (ii) the capital injection actually paid by Zhaoqing Kunpeng upon the earlier of (i) the removal of the PRC foreign investment restrictions in whole-unit vehicle industry; or (ii) December 31, 2022.

Effective from January 1, 2022, the PRC foreign investment restrictions in whole-unit vehicle industry were removed. Therefore, on January 4, 2022, Zhaoqing Kunpeng transferred its 50% equity interest in Zhaoqing Xiaopeng New Energy to Zhaoqing XPeng for a total cash consideration of RMB1 Yuan, after which Zhaoqing Xiaopeng New Energy become the Company’s indirect wholly owned subsidiary (Note 28(a)). This transfer results in the continued consolidation of Zhaoqing Xiaopeng New Energy by the Company.

(3)

The English names of the subsidiaries and VIEs represent the best effort by the management of the Company in translating its Chinese names as they do not have official English name.

Place of

incorporation

Date of
incorporation
or acquisition

Principal activities

VIEs

Guangzhou Zhipeng IoV Technology Co., Ltd.(“Zhipeng IoV”) (Note 1(c)(i))

PRC

May 23,

2018

Business of development and the operation of an Internet of Vehicles network

Guangzhou Yidian Zhihui Chuxing Technology Co., Ltd.(“Yidian Chuxing”) (Note 1(c)(ii))

PRC

May 24,

2018

Business of provision of online-hailing services through online platform

Guangzhou Xintu Technology Co., Ltd. (“Xintu Technology”) (Note 1(c)(i))

PRC

April 27,

2021

Surveying and mapping

VIEs’ subsidiary

Jiangsu Zhipeng Kongjian Information Technology Co., Ltd. (“Zhipeng Kongjian”, formerly known as Jiangsu Zhitu Technology Co., Ltd.) (Note 1(c)(i))

PRC

June 23,

2021

Surveying and mapping

(i) Zhipeng IoV which is primarily engaged in the business of development and the operation of an Internet of Vehicles network was established by two shareholders of the Company (the “Zhipeng IoV’s Nominee Shareholders”) on May 23, 2018. On May 28, 2018, Xiaopeng Technology, Zhipeng IoV, and Zhipeng IoV’s Nominee Shareholders entered into a series of contractual agreements, including an equity interest pledge agreement, a loan agreement, exclusive service agreement, exclusive call option agreement and power of attorney that irrevocably authorized Xiaopeng Technology to exercise the equity owner’s rights over Zhipeng IoV. These agreements provide the Company, as the only shareholder of Xiaopeng Technology, with effective control over Zhipeng IoV to direct the activities that most significantly impact Zhipeng IoV’s economic performance and enable the Company to obtain substantially all of the economic benefits arising from Zhipeng IoV. Management concluded that Zhipeng IoV is a variable interest entity of the Company and the Company is the ultimate primary beneficiary of Zhipeng IoV and shall consolidate the financial results of Zhipeng IoV in the Group’s consolidated financial statements.

On April 27, 2021, Zhipeng IoV established Xintu Technology and became the only shareholder of Xintu Technology. On June 23, 2021, Xintu Technology acquired 100% of the equity interest of Zhipeng Kongjian which possesses surveying and mapping qualification certificate, which is determined to be an asset acquisition (Note

(ii)).

On August 12, 2021, Guangzhou Kuntu Technology Co., Ltd. (“Kuntu Technology”), a company controlled by the Zhipeng IoV’s Nominee Shareholders, acquired 100% of the equity interest of Xintu Technology from Zhipeng IoV. On the same day, Xiaopeng Technology, Xintu Technology and Kuntu Technology entered into a series of contractual agreements, including an equity interest pledge agreement, a loan agreement, exclusive service agreement, exclusive call option agreement and power of attorney that irrevocably authorized Xiaopeng Technology to exercise the equity owner’s rights over Xintu Technology. These agreements provide the Company, as the only shareholder of Xiaopeng Technology, with effective control over Xintu Technology to direct the activities that most significantly impact Xintu Technology’s economic performance and enable the Company to obtain substantially all of the economic benefits arising from Xintu Technology. Management concluded that Xintu Technology is a variable interest entity of the Company and the Company is the ultimate primary beneficiary of Xintu Technology and shall consolidate the financial results of Xintu Technology in the Group’s consolidated financial statements. As of December 31, 2021, Xintu Technology did not have significant operations, nor any material assets or liabilities.

On September 6, 2021, Xiaopeng Technology (wholly owned by the Company) acquired 50% equity interests in Zhipeng IoV from Zhipeng IoV’s Nominee Shareholders. At the same time, the aforementioned contractual agreements had been modified to reflect the change of equity interests in Zhipeng IoV. Xiaopeng Technology, Zhipeng IoV, and Zhipeng IoV’s Nominee Shareholders entered into a series of contractual agreements, including an equity interest pledge agreement, a loan agreement, exclusive service agreement, exclusive call option agreement and power of attorney that irrevocably authorized Xiaopeng Technology to exercise the equity owner’s rights over Zhipeng IoV. These agreements, coupled with its 50% equity interest, results in the Company, being the VIE’s primary beneficiary, with effective control over Zhipeng IoV, to direct the activities that most significantly impact Zhipeng IoV’s economic performance and enable the Company to obtain substantially all of the economic benefits arising from Zhipeng IoV. As of December 31, 2021, Zhipeng IoV did not have significant operations, nor any material assets or liabilities.

(ii) Yidian Chuxing which is primarily engaged in the business of provision of online-hailing services through online platform was established by two shareholders of the Company (the “Yidian Chuxing‘s Nominee Shareholders”) on May 24, 2018. On May 28, 2018, Guangzhou Xiaopeng Zhihui Chuxing Technology Co., Ltd, (“Xiaopeng Chuxing”), Yidian Chuxing, and Yidian Chuxing‘s Nominee Shareholders entered into a series of contractual agreements, including an equity interest pledge agreement, a loan agreement, exclusive service agreement, exclusive call option agreement and power of attorney that irrevocably authorized Xiaopeng Chuxing to exercise the equity owner’s rights over Yidian Chuxing. These agreements provide the Company, as the only shareholder of Xiaopeng Chuxing, with effective control over Yidian Chuxing to direct the activities that most significantly impact Yidian Chuxing’s economic performance and enable the Company to obtain substantially all of the economic benefits arising from Yidian Chuxing. Management concluded that Yidian Chuxing is a variable interest entity of the Company and the Company is the ultimate primary beneficiary of Yidian Chuxing and shall consolidate the financial results of Yidian Chuxing in the Group’s consolidated financial statements.

On September 10, 2021, Xiaopeng Chuxing (wholly owned by the Company) acquired 50% equity interests in Yidian Chuxing from Yidian Chuxing‘s Nominee Shareholders. At the same time, the aforementioned contractual agreements have been modified to reflect the change of equity interests in Yidian Chuxing. Xiaopeng Chuxing, Yidian Chuxing, and Yidian Chuxing‘s Nominee Shareholders entered into a series of contractual agreements, including an equity interest pledge agreement, a loan agreement, exclusive service agreement, exclusive call option agreement and power of attorney that irrevocably authorized Xiaopeng Chuxing to exercise the equity owner’s rights over Yidian Chuxing. These agreements, coupled with its 50% equity interest, results in the Company, being the VIE’s primary beneficiary, with effective control over Yidian Chuxing, to direct the activities that most significantly impact Yidian Chuxing’s economic performance and enable the Company to obtain substantially all of the economic benefits arising from Yidian Chuxing. As of December 31, 2021, Yidian Chuxing did not have significant operations, nor any material assets or liabilities.

(d)

Liquidity

The Group has been incurring losses from operations since inception. The Group incurred net losses of RMB3,691,673, RMB2,731,985 and RMB4,863,096 for the years ended December 31, 2019, 2020 and 2021, respectively. Accumulated deficit amounted to RMB11,322,423 and RMB16,191,566 as of December 31, 2020 and 2021, respectively. Net cash used in operating activities was approximately RMB3,562,765, RMB139,766 and RMB1,094,591 for the years ended December 31, 2019, 2020 and 2021, respectively.

The Group’s liquidity is based on its ability to enhance its operating cash flow position, obtain capital financing from equity interest investors and borrow funds to fund its general operations, research and development activities and capital expenditures. The Group’s ability to continue as a going concern is dependent on management’s ability to execute its business plan successfully, which includes increasing market acceptance of the Group’s products to boost its sales volume to achieve economies of scale while applying more effective marketing strategies and cost control measures to better manage operating cash flow position and obtaining funds from outside sources of financing to generate positive financing cash flows. With the completion of its IPO and FO on NYSE in August and December 2020, the Group received the net proceeds, after deducting the underwriting discounts and commissions, fees and offering expenses, of RMB11,409,248 and RMB15,980,227, respectively. In July 2021, with the completion of its Global Offering on HKEX, the Group received the net proceeds, after deducting the underwriting discounts and commissions, of HKD15,823,315. As of December 31, 2021, the Group’s balance of cash and cash equivalents, restricted cash, excluding RMB9,917 restricted as to withdrawal or use for legal disputes, short-term deposits and short-term investments was RMB40,316,734.

Management has concluded, after giving consideration to its plans as transactions described above, the net proceeds received upon completion of IPO, FO and the Global Offering on HKEX, and existing balance of cash and cash equivalents, short-term deposits and short-term investments as of December 31, 2021, that the Group has sufficient funds for sustainable operations and it will be able to meet its payment obligations from operations and debt related commitments for the next twelve months from the issuance of the consolidated financial statements. Accordingly, the consolidated financial statements have been prepared on a going concern basis, which contemplates the realization of assets and liquidation of liabilities during the normal course of operations.

Long-Term Investments (Tables)

12 Months Ended

Dec. 31, 2021

Schedule of Long Term Investments [Abstract]

Schedule of Long-term investments

Long-term

investments consisted of the following:


	Equity investments without readily determinable fair values (i)			Debt investments (ii)			Total
Balance at December 31, 2020		1,000			—			1,000
Additons		209,900			749,955			959,855
Fair value change through earnings		—			591,506			591,506
Foreign currency translation		(546	)		(2,639	)		(3,185	)

Balance at December 31, 2021		210,354			1,338,822			1,549,176

Installment Payment Receivables, Net - Summary of sales type lease net investment in lease before allowance or credit loss (Detail) - CNY (¥) ¥ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Sales-Type Lease, Net Investment in Lease, before Allowance for Credit Loss, Alternative [Abstract]
Current portion of installment payment receivables, net	¥ 887,202	¥ 156,069
Non-current portion of installment payment receivables, net	1,863,492	397,467
Total	¥ 2,750,694	¥ 553,536

Subsequent events

12 Months Ended

Dec. 31, 2021

Subsequent Events [Abstract]

Subsequent events

28.	Subsequent events

(a) Transfer of Equity Interest in Zhaoqing Xiaopeng New Energy

On January 4, 2022, Zhaoqing Kunpeng transferred its 50% equity interest in Zhaoqing Xiaopeng New Energy to Zhaoqing XPeng for a total cash consideration of RMB1 Yuan, after which Zhaoqing Xiaopeng New Energy become the Company’s wholly owned subsidiary (Note 1(b)(2)).

(b) Investment in a business related to semiconductor

In January 2022, the Group entered into a share subscription agreement with a company to acquire its 3.71% equity interest for a total cash consideration of RMB65,000.

In February 2022, the Company, through its wholly owned subsidiary, completed the launch of ABS amounting to RMB

775,000

by issuing senior debt securities to investors.

(d) Investment in a limited partnership related to capital investment

In March 2022, the Group entered into a subscription agreement with a limited partnership to become a limited partner for a total consideration of US$150,000.

(e) Investment in a business related to battery

In March 2022, the Group entered into a share subscription agreement with a company to acquire its 0.40% equity interest for a total consideration of RMB50,000.

Borrowings - Additional Information (Detail) - CNY (¥) ¥ in Thousands		12 Months Ended
	Dec. 31, 2021	Dec. 31, 2021	Dec. 31, 2019	Sep. 30, 2021	Jul. 31, 2021	Dec. 31, 2020	May 31, 2017
Debt Disclosure [Line Items]
Short term borrowings payable to banks	¥ 0	¥ 0				¥ 127,900
Current portion of long-term borrowings	0	0				45,000
Line of credit non current portion	100,000	100,000				800,000
Long-term Debt			¥ 150,000
Long-term borrowings	1,575,106	1,575,106				845,000
Debt principal repayament	90,000	90,000
Zhaoqing Hightech Zone Construction Investment Development Co Ltd [Member]
Debt Disclosure [Line Items]
Line of credit non current portion	¥ 800,000	¥ 800,000				1,600,000
Long term line of credit stated interest rate	4.90%	4.90%
Line of Credit Facility Expiration Date		January 31, 2027 and January 31, 2028
Banks In Peoples Republic Of China [Member]
Debt Disclosure [Line Items]
Line of credit non current portion	¥ 800,000	¥ 800,000				800,000
Long-term borrowings	800,000	¥ 800,000
Line of Credit Facility Expiration Date		December 18, 2020 to December 17, 2028
Zhaoqing Hightech Zone Loan One [Member]
Debt Disclosure [Line Items]
Line of credit non current portion	200,000	¥ 200,000
Zhaoqing Hightech Zone Loan Two [Member]
Debt Disclosure [Line Items]
Line of credit non current portion	600,000	¥ 600,000
Guangzhou Xiaopeng New Energy Automobile Co Ltd [Member]
Debt Disclosure [Line Items]
Line of credit maximum borrowing capacity					¥ 1,120,000
Proceeds from Long-term Lines of Credit	¥ 408,446
Debt instrument, interest rate, stated percentage	5.42%	5.42%
Zhaoqing Hightech Zone [Member]
Debt Disclosure [Line Items]
Current portion of long-term borrowings	¥ 700,000	¥ 700,000
Debt principal repayament	8,000	¥ 8,000
Xiaopeng Automobile Central China [Member]
Debt Disclosure [Line Items]
Line of credit maximum borrowing capacity				¥ 3,000,000
Proceeds from Long-term Lines of Credit	¥ 374,660
Debt instrument, interest rate, stated percentage	4.65%	4.65%
Line of Credit [Member] \| Zhaoqing Hightech Zone Construction Investment Development Co Ltd [Member]
Debt Disclosure [Line Items]
Line of credit maximum borrowing capacity							¥ 1,600,000
Line of Credit [Member] \| Bank Loan [Member]
Debt Disclosure [Line Items]
Long term line of credit stated interest rate	4.98%	4.98%
Long Term Debt Agreement With Bank In Peoples Republic Of China [Member]
Debt Disclosure [Line Items]
Long term debt bearing variable interest rate percentage			4.99%
Long term debt maturity date start range			Jan. 22, 2020
Long term debt maturity date end range			Nov. 20, 2022
Current portion of long-term borrowings						¥ 45,000
Other Short Term Loans Payable To Banks [Member] \| Maximum [Member]
Debt Disclosure [Line Items]
Short term debt weighted average effective rate of interest at point of time						4.99%
Other Short Term Loans Payable To Banks [Member] \| Minimum [Member]
Debt Disclosure [Line Items]
Short term debt weighted average effective rate of interest at point of time						4.17%

Share-based Compensation - Summary of Vesting Schedule of the Restricted Shares (Detail) - $ / shares	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares, unvested	0	13,333,325
Number of shares, vested	(13,333,325)
Weighted average grant date fair value	$ 0	$ 10.16

Land Use Rights, Net (Tables)

12 Months Ended

Dec. 31, 2021

Land and Land Improvements [Abstract]

Summary of Land Use Rights And Related Accumulated Amortization

Land use rights and related accumulated amortization consisted of the following:


	As of December 31,
	2020			2021
Land use rights		264,886			620,065
Less: Accumulated amortization		(14,952	)		(24,594	)

Total land use rights, net		249,934			595,471

Installment Payment Receivables, Net - Summary of sales-type and direct financing leases, lease receivable, maturity (Detail) ¥ in Thousands	Dec. 31, 2021 CNY (¥)
Sales-type and Direct Financing Leases, Lease Receivable, Fiscal Year Maturity [Abstract]
Within 1 year	¥ 1,029,526
Between 1 and 2 years	920,142
Between 2 and 3 years	598,274
Between 3 and 4 years	382,075
Between 4 and 5 years	184,498
Thereafter	5,530
Total receivables of installment payments	3,120,045
Less: Unrealized finance income	(318,220)
Installment payment receivables, gross	2,801,825
Less: Allowance for installment payment receivables	(51,131)
Installment payment receivables - net	¥ 2,750,694

Share-based compensation - Summary of Restricted Stock and Restricted Stock Unit, Activity (Detail)	12 Months Ended
	Dec. 31, 2021 ¥ / shares shares	Dec. 31, 2020 ¥ / shares shares	Dec. 31, 2020 $ / shares shares	Dec. 31, 2019 $ / shares shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Outstanding balance		0	0	13,333,325
Vested				(13,333,325)
Outstanding balance				0
Weighted average grant-date \| $ / shares			$ 0	$ 10.16
Weighted average grant date fair value \| $ / shares				$ 0
Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Outstanding balance	48,288,134
Replacement		75,010,330	75,010,330
Granted	7,086,500	39,313,515	39,313,515
Vested	(18,577,032)	(63,314,483)	(63,314,483)
Forfeited	(2,937,374)	(2,721,228)	(2,721,228)
Outstanding balance	33,860,228	48,288,134	48,288,134
Expected to vest as of December 31, 2020,shares	30,900,145	44,425,083	44,425,083
Weighted average grant-date \| ¥ / shares	¥ 14.20
Replacement ,Weighted average grant-date \| ¥ / shares		¥ 4.87
Granted,Weighted average grant-date \| ¥ / shares	132.02	27.70
Vested,Weighted average grant-date \| ¥ / shares	11.51	11.66
Forfeited,Weighted average grant-date \| ¥ / shares	43.23	11.05
Weighted average grant date fair value \| ¥ / shares	¥ 38.75	¥ 14.20
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Replacement		17,643,400	17,643,400
Vested		(17,643,400)	(17,643,400)
Replacement ,Weighted average grant-date \| ¥ / shares		¥ 2.51
Vested,Weighted average grant-date \| ¥ / shares		¥ 2.51

Leases (Tables)

12 Months Ended

Dec. 31, 2021

Lessee Disclosure [Abstract]

Schedule Of Balance Sheet Information Related To Operating Leases

The balances for the operating leases where the Group is the lessee are presented as follows within the consolidated balance sheets:


	As of December 31,
	2020		2021
Operating lease right-of-use assets, net		461,184		1,561,175

Lease liabilities - current		119,565		373,488
Lease liabilities - non current		352,501		1,189,754

Total operating lease liabilities		472,066		1,563,242

Summary of Components of Operating Lease Expense

The components of operating lease expense are as follows within the consolidated statements of comprehensive loss:


	For the Year Ended December 31,
	2019		2020		2021
Operating lease expense		107,850		125,867		340,744
Short-term lease expense		15,033		30,201		102,901

Total lease expense s		122,883		156,068		443,645

Schedule of Other Information Related To Operating Leases

Other information related to operating leases where the Group is the lessee is as follows:


	For the Year Ended December 31,
	2019			2020			2021
Weighted-average remaining lease term		5.4 years			4.0 years			5.3 years
Weighted-average discount rate		4.48	%		4.43	%		4.71	%

Summary of Cash Flow Information Related To Operating Leases

Supplemental cash flow information related to leases where the Group is the lessee is as follows:


	For the Year Ended December 31,
	2019		2020		2021
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash outflows from operating leases		84,975		132,440		289,456
Leased assets obtained in exchange for operating lease liabilities		186,181		130,560		1,329,021

Summary of Maturities of The Group's Operating Lease Liabilities

As of December 31, 2021, the maturities of the Group’s operating lease liabilities (excluding short-term leases) are as follows:


	As of December 31,
	2021
Within 1 year		441,012
Between 1 and 2 years		357,303
Between 2 and 3 years		244,834
Between 3 and 4 years		191,500
Between 4 and 5 years		172,954
Thereafter		398,686

Total minimum lease payments		1,806,289

Less: Interest		(243,047	)

Present value of lease obligations		1,563,242
Less: Current portion		(373,488	)

Non - current portion of lease obligations		1,189,754

Property, Plant and Equipment, Net

12 Months Ended

Dec. 31, 2021

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment, Net

8 .	Property, Plant and Equipment, Net

Property, plant and equipment, net, consisted of the following:


	As of December 31,
	2020			2021
Construction in process		223,875			1,760,259
Mold s and tooling s		938,611			1,178,385
Machinery and equipment		1,047,461			1,123,512
Buildings		726,820			860,556
Vehicles		328,555			717,976
Leasehold improvements		216,923			376,219
Charging infrastructure		45,835			262,678
Computer and electronic equipment		87,304			147,273
Others		57,904			93,950

Sub-total		3,673,288			6,520,808

Less: Accumulated depreciation		(456,319	)		(1,002,246	)
Less: Impairment		(135,467	)		(93,786	)

Property, plant and equipment, net		3,081,502			5,424,776

The Group recorded depreciation expenses of RMB125,453, RMB302,974 and RMB573,247 for the years ended December 31, 2019, 2020 and 2021, respectively.

Vehicles represent the rides-qualified vehicles operated by the Group for the ride hailing services, certain vehicles under operating lease arrangement with customers, and the vehicles used for the Group’s daily internal operations.

Construction in progress primarily consists of the construction of Wuhan, Guangzhou and Zhaoqing manufacturing plant

and mold

, tooling

, machinery and equipment relat

ing

to the manufacturing of the Group’s vehicles. During the years ended December 31, 2019, 2020 and 2021, the Group capitalized RMB38,483, RMB26,351 and RMB10,598 of gross interest expenses, respectively.

Government subsidies related to capitalized interest expense were accounted for as a reduction of such amounts capitalized in connection with the construction of the manufacturing plants. The benefits of these subsidies will be reflected through reduced depreciation charges over the useful lives of these assets. Government subsidies relating to expensed interests are recognized as a liability if received in advance (of the incurrence of the interest expense). Such amounts, when recognized, will reduce the respective interest expenses to which the subsidies relate. In April 2020, the construction of Zhaoqing manufacturing plant had been completed and transferred to respective fixed assets.

The accumulated impairment loss was RMB135,467 and RMB93,786 as of December 31, 2020 and 2021, respectively, primarily due to the upgrade of the G3 in 2020 and the G3i in 2021.

Deferred Revenue - Additional Information (Detail) ¥ in Thousands	12 Months Ended
	Dec. 31, 2021 CNY (¥) Kilometers	Dec. 31, 2020 CNY (¥)	Dec. 31, 2019 CNY (¥)	Dec. 31, 2018 CNY (¥)
Capitalized Contract Cost [Line Items]
Deferred revenue \| ¥	¥ 897,288	¥ 308,384	¥ 85,498	¥ 2,366
Performance obligation satisfied over time percentage	47.00%
Performance obligation satisfied over time explanation	January 1, 2022 to December 31, 2022
Remaining performance obligation percentage	53.00%
Remaining performance obligation expected timing of satisfaction explanation	January 1, 2023 to December 31, 2031
Vehicle [Member]
Capitalized Contract Cost [Line Items]
Free charging period	4 years
Free charging kilometers \| Kilometers	100,000

Summary of Significant Accounting Policies - Summary of Cash and Cash Equivalents (Details) ¥ in Thousands, $ in Thousands	Dec. 31, 2021 CNY (¥)	Dec. 31, 2021 USD ($)	Dec. 31, 2020 CNY (¥)	Dec. 31, 2020 USD ($)
Cash and Cash Equivalents [Line Items]
Cash, Cash Equivalents, and Short-term Investments	¥ 11,024,906		¥ 29,209,388
China, Yuan Renminbi [Member]
Cash and Cash Equivalents [Line Items]
Cash, Cash Equivalents, and Short-term Investments	8,513,644	$ 8,513,644	4,428,120	$ 4,428,120
United States of America, Dollars [Member]
Cash and Cash Equivalents [Line Items]
Cash, Cash Equivalents, and Short-term Investments	1,788,100	281,083	24,781,268	3,793,451
Hong Kong, Dollars [Member]
Cash and Cash Equivalents [Line Items]
Cash, Cash Equivalents, and Short-term Investments	695,738	$ 852,743	0	0
Other Currency [Member]
Cash and Cash Equivalents [Line Items]
Cash, Cash Equivalents, and Short-term Investments	¥ 27,424		¥ 0	$ 0

CONSOLIDATED BALANCE SHEETS - CNY (¥) ¥ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Current assets
Cash and cash equivalents	¥ 11,024,906	¥ 29,209,388
Restricted cash	609,975	2,332,145
Short-term deposits	25,858,007	979,897
Short-term investments	2,833,763	2,820,711
Accounts and notes receivable, net	2,673,494	1,128,892
Current portion of installment payment receivables, net	887,202	156,069
Inventory	2,661,921	1,343,025
Amounts due from related parties	32,785	682
Prepayments and other current assets	2,248,683	1,708,469
Total current assets	48,830,736	39,679,278
Non-current assets
Property, plant and equipment, net	5,424,776	3,081,502
Right-of-use assets, net	1,561,175	461,184
Intangible assets, net	878,724	607,781
Land use rights, net	595,471	249,934
Installment payment receivables, net	1,863,492	397,467
Other non-current assets	1,730,486	228,633
Long-term investments	1,549,176	1,000
Long-term deposits	3,217,266	0
Total non-current assets	16,820,566	5,027,501
Total assets	65,651,302	44,706,779
Current liabilities
Short-term borrowings	0	127,900
Accounts and notes payable	12,362,186	5,111,745
Amounts due to a related party	24,919	12,062
Current portion of lease liabilities	373,488	119,565
Current portion of deferred revenue	418,227	163,617
Current portion of long-term borrowings	0	45,000
Accruals and other liabilities	4,811,107	2,256,165
Income taxes payable	22,737	1,209
Total current liabilities	18,012,664	7,837,263
Non-current liabilities
Long-term borrowings	1,675,106	1,645,000
Lease liabilities	1,189,754	352,501
Deferred revenue	479,061	144,767
Other non-current liabilities	2,148,139	297,439
Total non-current liabilities	5,492,060	2,439,707
Total liabilities	23,504,724	10,276,970
Commitments and contingencies
SHAREHOLDERS' (DEFICIT) EQUITY
Additional paid-in capital	59,980,534	46,482,512
Statutory reserve	6,047	0
Accumulated deficit	(16,191,566)	(11,322,423)
Accumulated other comprehensive loss	(1,648,549)	(730,381)
Total shareholders' (deficit) equity	42,146,578	34,429,809
Total liabilities, mezzanine equity and shareholders' (deficit) equity	65,651,302	44,706,779
Common Class A [Member]
SHAREHOLDERS' (DEFICIT) EQUITY
Common Stock, Value, Issued	87	63
Common Class B [Member]
SHAREHOLDERS' (DEFICIT) EQUITY
Common Stock, Value, Issued	25	26
Common Class C [Member]
SHAREHOLDERS' (DEFICIT) EQUITY
Common Stock, Value, Issued	¥ 0	¥ 12

Leases

12 Months Ended

Dec. 31, 2021

Leases Disclosure [Abstract]

Leases

As a lessee

The Group has entered into various operating lease agreements for certain offices, retail and service centers, warehouses for finished goods, parking areas for charging infrastructure, and factories for R&D activities which are substantially located in PRC. The Group determines if an arrangement is a lease, or contains a lease, at inception and record the leases in the consolidated financial statements upon lease commencement, which is the date when the lessor makes the underlying asset available for use by the lessee.

The Group’s leases, where the Group is the lessee, may include options to extend the lease term and options to terminate the lease prior to the end of the agreed upon lease term. For purposes of calculating lease liabilities, lease terms include options to extend or terminate the lease when it is reasonably certain that the Group will exercise such options.

The balances for the operating leases where the Group is the lessee are presented as follows within the consolidated balance sheets:


	As of December 31,
	2020		2021
Operating lease right-of-use assets, net		461,184		1,561,175

Lease liabilities - current		119,565		373,488
Lease liabilities - non current		352,501		1,189,754

Total operating lease liabilities		472,066		1,563,242

The components of operating lease expense are as follows within the consolidated statements of comprehensive loss:


	For the Year Ended December 31,
	2019		2020		2021
Operating lease expense		107,850		125,867		340,744
Short-term lease expense		15,033		30,201		102,901

Total lease expense s		122,883		156,068		443,645

Short-term leases primarily consist of the parking area

and

pop-up

stores leases with a term of 12 months or less.

Both operating lease expense and short-term lease expense are recognized as cost of sales, selling, general and administrative expenses and research and development expenses.

Other information related to operating leases where the Group is the lessee is as follows:


	For the Year Ended December 31,
	2019			2020			2021
Weighted-average remaining lease term		5.4 years			4.0 years			5.3 years
Weighted-average discount rate		4.48	%		4.43	%		4.71	%

Because most of the leases do not provide an implicit rate of return, the Group used the incremental borrowing rate based on the information available at lease commencement date in determining the present value of lease payments.

Supplemental cash flow information related to leases where the Group is the lessee is as follows:


	For the Year Ended December 31,
	2019		2020		2021
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash outflows from operating leases		84,975		132,440		289,456
Leased assets obtained in exchange for operating lease liabilities		186,181		130,560		1,329,021

As of December 31, 2021, the maturities of the Group’s operating lease liabilities (excluding short-term leases) are as follows:


	As of December 31,
	2021
Within 1 year		441,012
Between 1 and 2 years		357,303
Between 2 and 3 years		244,834
Between 3 and 4 years		191,500
Between 4 and 5 years		172,954
Thereafter		398,686

Total minimum lease payments		1,806,289

Less: Interest		(243,047	)

Present value of lease obligations		1,563,242
Less: Current portion		(373,488	)

Non - current portion of lease obligations		1,189,754

Ordinary Shares	12 Months Ended
Ordinary Shares	Dec. 31, 2021
Stockholders' Equity Note [Abstract]
Ordinary Shares	2 2 . Ordinary Shares Upon closing of the issuance of Series C Preferred Shares on December 2, 2019, the Company adopted a dual voting structure on its shares and the Company’s ordinary shares were divided into Class A and Class B ordinary shares, accordingly. Holders of Class A ordinary shares and Class B ordinary shares have the same rights, except for voting rights. Holders of Class A ordinary shares are entitled to one vote per share in all shareholders’ meetings, while holders of Class B ordinary shares are entitled to five votes per share. After a share split effective on March 30, 2020, the Company authorized 3,492,799,650 Class A and 750,000,000 Class B ordinary shares of par value US$0.00001. The Company repurchased and cancelled 100,442,575 Class A ordinary shares with a par value of US$0.00001 per share which were currently held by Success Sharing Development Holding Limited on June 28, 2020. On the same day, 17,643,400 of Class A ordinary shares at par value of US$0.00001 per share was issued to Quack Holding Limited and 33,349,070 Class A Ordinary Shares at par value of US$0.00001 per share was issued to XPeng Fortune Holding Limited. On August 6, 2020, 9,695,210 Class A Ordinary Shares at par value of US$0.00001 per share was issued to XPeng Fortune Holding Limited. On the same day, 14,850,560 of Class A ordinary shares at par value of US$0.00001 per share was issued to Quack Holding Limited for the vested of RSU. On August 27, 2020, the Group consummated its IPO on the NYSE, where 229,386,666 ordinary shares were newly issued with the total net proceeds of RMB11,409,248 (US$1,655,678). Upon closing of the IPO, the Company’s ordinary shares were divided into Class A, Class B and Class C ordinary shares. Holders of Class A ordinary shares, Class B ordinary shares and Class C ordinary shares have the same rights, except for voting rights. Holders of Class A ordinary shares are entitled to one vote per share, holders of Class B ordinary shares are entitled to ten votes per share, while holders of Class C ordinary shares are entitled to five votes per share in all shareholders’ meetings. Upon the completion of the IPO, the Company authorized 8,850,000,000 Class A ordinary shares, 750,000,000 Class B ordinary shares and 400,000,000 Class C ordinary shares of par value US$0.00001. On December 14, 2020, the Group consummated its FO on the NYSE, where 110,400,000 Class A ordinary shares were newly issued with the total net proceeds of RMB15,980,227 (US$2,444,930). As of December 31, 2020, 971,341,066 Class A ordinary shares had been issued, 928,296,786 Class A ordinary shares outstanding, 429,846,136 Class B ordinary shares and 178,618,464 Class C ordinary shares had been issued and outstanding. The Group issued 35,868,362 Class A ordinary shares for the year ended December 31, 2021, out of which, 26,471,648 Class A ordinary shares are outstanding and transferred to employees for the vested RSUs and 9,396,714 Class A ordinary shares are treasury shares held by XPeng Inc. XPeng Inc. and XPeng Fortune Holding Limited transferred 7,804,566 and 32,764,738 Class A treasury shares to employees for the vested RSUs for the year ended December 31, 2021, respectively. The Company completed its Global Offering, including the Hong Kong Public Offering and the International Offering, on July 7, 2021. In connection with the Global Offering, 97,083,300 new Class A ordinary shares of the Group were issued and allotted at the offer price of HKD165 per Class A ordinary share. All Class B ordinary shares held by Mr. Tao He and all Class C ordinary shares were converted into Class A ordinary shares on a one-on-one basis upon the completion of the Global Offering. As of December 31, 2021, 1,302,911,192 Class A ordinary shares had been issued, 1,291,039,502 Class A ordinary shares outstanding, 409,846,136 Class B ordinary shares and nil Class C ordinary shares had been issued and outstanding.

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

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Accounts Payable and Accrued Liabilities, Current [Abstract]

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Dec. 31, 2021	Dec. 31, 2020	Aug. 27, 2020	Aug. 06, 2020	Jun. 28, 2020	Mar. 30, 2020
Common stock par or stated value per share				$ 0.00001	$ 0.00001
Common Class A [Member]
Common stock par or stated value per share	$ 0.00001	$ 0.00001	$ 0.00001
Common Stock Shares Authorized	9,250,000,000	8,850,000,000	8,850,000,000			3,492,799,650
Common Stock Shares Issued	1,302,911,192	971,341,066
Common Stock Shares Outstanding	1,291,039,502	928,296,786
Common Class B [Member]
Common stock par or stated value per share	$ 0.00001	$ 0.00001	$ 0.00001			$ 0.00001
Common Stock Shares Authorized	750,000,000	750,000,000	750,000,000			750,000,000
Common Stock Shares Issued	409,846,136	429,846,136
Common Stock Shares Outstanding	409,846,136	429,846,136
Common Class C [Member]
Common stock par or stated value per share	$ 0.00001	$ 0.00001	$ 0.00001
Common Stock Shares Authorized	0	400,000,000	400,000,000
Common Stock Shares Issued	0	178,618,464
Common Stock Shares Outstanding	0	178,618,464

Accruals and Other Liabilities (Tables)

12 Months Ended

Dec. 31, 2021

Summary of Accruals And Other Liabilities

Accruals and other liabilities consisted of the following:


	As of December 31,
	2020		2021
Payables for R&D expenses		197,751		939,488
Payables for purchase of property, plant and equipment		596,527		843,732
Employee compensation payable		326,081		810,730
Payables for marketing events		362,570		679,120
Accrued expenses		145,174		364,647
Deposits from third parties		108,301		241,468
Advance from customers		5,437		208,281
Non-controlling interests (i)		98,010		106,596
Warranty provi sions		31,594		105,068
Interest payables		61,997		54,191
Derivative liabilities (Note 5)		—		48,605
Refundable deposit from customers		213,928		18,752
Others		108,795		390,429

Total		2,256,165		4,811,107

Leases - Summary of Components of Operating Lease Expense (Detail) - CNY (¥) ¥ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Lease, Cost [Abstract]
Operating lease expense	¥ 340,744	¥ 125,867	¥ 107,850
Short-term lease expense	102,901	30,201	15,033
Total lease expenses	¥ 443,645	¥ 156,068	¥ 122,883

Prepayments and Other Current Assets - Summary of Prepayments and Other Current Assets (Detail) - CNY (¥) ¥ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Prepaid Expense and Other Assets, Current [Abstract]
Prepayments	¥ 1,300,805	¥ 909,327
Deductible input value-added tax	484,257	521,630
Deposits	83,939	30,006
Receivables from third party online payment service providers	78,620	16,988
Derivative assets (Note 5)	0	105,183
Others	301,062	125,335
Total	¥ 2,248,683	¥ 1,708,469

Summary of Significant Accounting Policies -Summary of Useful Lives of Property Plant and Equipment (Details)	12 Months Ended
	Dec. 31, 2021
Building [Member]
Property, Plant and Equipment [Line Items]
Estimated Useful Lives	20 years
Charging Infrastructure [Member]
Property, Plant and Equipment [Line Items]
Estimated Useful Lives	5 years
Computer And Electronic Equipment [Member]
Property, Plant and Equipment [Line Items]
Estimated Useful Lives	3 years
Maximum [Member] \| Machinery and Equipment [Member]
Property, Plant and Equipment [Line Items]
Estimated Useful Lives	10 years
Maximum [Member] \| Vehicles [Member]
Property, Plant and Equipment [Line Items]
Estimated Useful Lives	5 years
Maximum [Member] \| Others [Member]
Property, Plant and Equipment [Line Items]
Estimated Useful Lives	5 years
Minimum [Member] \| Machinery and Equipment [Member]
Property, Plant and Equipment [Line Items]
Estimated Useful Lives	5 years
Minimum [Member] \| Vehicles [Member]
Property, Plant and Equipment [Line Items]
Estimated Useful Lives	4 years
Minimum [Member] \| Others [Member]
Property, Plant and Equipment [Line Items]
Estimated Useful Lives	2 years

Other Non-Current Liabilities - Summary of Other Non-Current Liabilities (Parenthetical) (Detail) - CNY (¥) ¥ in Thousands					12 Months Ended
	Mar. 30, 2021	Mar. 12, 2021	Dec. 31, 2020	Dec. 20, 2020	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Mar. 31, 2021
Other Liabilities Noncurrent [Line Items]
Proceeds from non-controlling interests					¥ 1,660,000	¥ 0	¥ 98,010
Guangdong U Trust [Member]
Other Liabilities Noncurrent [Line Items]
Payment to acquire interest in limited liability partnership					¥ 11,856
Interest rate on limited liability partnership investment					3.00%
Guangdong U Trust [Member] \| Chengxing [Member]
Other Liabilities Noncurrent [Line Items]
Payable to non controlling interest non current					¥ 500,000
Proceeds from non-controlling interests					500,000
Guangzhou GET Investment [Member]
Other Liabilities Noncurrent [Line Items]
Payment to acquire interest in limited liability partnership					¥ 29,973
Interest rate on limited liability partnership investment					4.00%
Guangzhou GET Investment [Member] \| Chengxing [Member]
Other Liabilities Noncurrent [Line Items]
Proceeds from non-controlling interests					¥ 1,000,000
Maximum [Member] \| Guangdong U Trust [Member] \| Chengxing [Member]
Other Liabilities Noncurrent [Line Items]
Non controlling interest common stock strike price interest rate payable percentage					6.00%
Minimum [Member] \| Guangdong U Trust [Member] \| Chengxing [Member]
Other Liabilities Noncurrent [Line Items]
Non controlling interest common stock strike price interest rate payable percentage					4.00%
Call Option [Member] \| Guangzhou GET Investment [Member] \| Chengxing [Member]
Other Liabilities Noncurrent [Line Items]
Non controlling interest common stock strike price interest rate payable percentage					4.00%
Chengxing [Member] \| Guangdong U Trust [Member]
Other Liabilities Noncurrent [Line Items]
Proceeds from non-controlling interests		¥ 500,000
Non controlling interest ownership percentage		0.3067%
Chengxing [Member] \| Guangzhou GET Investment [Member]
Other Liabilities Noncurrent [Line Items]
Payable to non controlling interest non current	¥ 1,000,000
Proceeds from non-controlling interests	¥ 1,000,000
Non controlling interest ownership percentage	1.064%
Chengxing [Member] \| Maximum [Member] \| Guangdong U Trust [Member]
Other Liabilities Noncurrent [Line Items]
Non controlling interest common stock strike price interest rate payable percentage								6.00%
Chengxing [Member] \| Minimum [Member] \| Guangdong U Trust [Member]
Other Liabilities Noncurrent [Line Items]
Non controlling interest common stock strike price interest rate payable percentage								3.00%
Chengxing [Member] \| Call Option [Member] \| Guangdong U Trust [Member]
Other Liabilities Noncurrent [Line Items]
Non controlling interest strike price redeemable stock redemption requirement		¥ 500,000
Non controlling interest common stock strike price interest rate payable percentage								3.00%
Chengxing [Member] \| Call Option [Member] \| Guangzhou GET Investment [Member]
Other Liabilities Noncurrent [Line Items]
Non controlling interest strike price redeemable stock redemption requirement	¥ 1,000,000
Non controlling interest common stock strike price interest rate payable percentage	4.00%
Guangzhou GET Investment [Member]
Other Liabilities Noncurrent [Line Items]
Term of the operating agreement with limited liability partnership					9 years
Payment to acquire interest in limited liability partnership					¥ 6,233
Interest rate on limited liability partnership investment					4.00%
Kunpeng Chuangye LLP [Member]
Other Liabilities Noncurrent [Line Items]
Term of the operating agreement with limited liability partnership				9 years	9 years
Kunpeng Chuangye LLP [Member] \| Chengxing [Member]
Other Liabilities Noncurrent [Line Items]
Payment to acquire interest in limited liability partnership				¥ 200,000
Percentage of investment in limited liability partnership			55.554%
Kunpeng Chuangye LLP [Member] \| Guangzhou Xiaopeng Automatic Driving Technology Co Ltd [Member]
Other Liabilities Noncurrent [Line Items]
Payment to acquire interest in limited liability partnership				10
Percentage of investment in limited liability partnership			0.0028%
Kunpeng Chuangye LLP [Member] \| Guangzhou GET Investment [Member]
Other Liabilities Noncurrent [Line Items]
Payment to acquire interest in limited liability partnership				¥ 160,000	¥ 160,000
Percentage of investment in limited liability partnership			44.4432%
Payable to non controlling interest non current					¥ 160,000			¥ 160,000
Interest rate on limited liability partnership investment								4.00%

Share-based Compensation (Tables)

12 Months Ended

Dec. 31, 2021

Share based Compensation [Line Items]

Summary of stock option activity

Activities of the Group’s share options during the years ended December 31, 2019 and 2020 were as follows:


	Number of Options Outstanding			Weighted Average Exercise Price		Weighted Average Remaining Contractual Life
				RMB		In Years
Outstanding as of December 31, 2018		75,091,640			0.0004		5.56
Granted		23,599,310			0.0004
Forfeited		(7,552,250	)
Outstanding as of December 31, 2019		91,138,700			0.0004		4.98
Granted		3,788,750			0.0004
Forfeited		(2,273,720	)
Replacement		(92,653,730	)
Outstanding as of December 31, 2020		—					—

Summary of fair value of each share options granted

The fair value of each share options granted was estimated on the date of each grant using the Binomial option-pricing model with the assumptions (or ranges thereof) in the following table:


	For the Year Ended December 31,
	2019		2020
Expected term (years) (i)		7		7
Exercise price (RMB)		0.0004		0.0004
Fair value of the ordinary shares on the date of option grant (RMB)		8.36 ~ 8.60		8.36 ~ 8.53
Risk-free interest rate (ii)		2.66% ~ 3.31%		3.10% ~ 3.31%
Expected dividend yield (iii)		0.00%		0.00%
Expected volatility (iv)		33.32% ~ 33.56%		33.35% ~ 33.56%

Summary of vesting schedule of the Restricted Shares

Vesting schedule of the Restricted Shares for the year ended December 31, 2019 was as follow:


	Number of shares			Weighted average grant date fair value
				RMB
Unvested as of December 31, 2018		13,333,325			10.16
Vested		(13,333,325	)		—

Unvested as of December 31, 2019		—			—

Restricted Stock Units (RSUs) [Member]

Share based Compensation [Line Items]

Summary of Restricted Stock and Restricted Stock Unit, Activity

Activities of the Group’s RSUs for the years ended December 31, 2020 and 2021 were as follows:


	Number of restricted share units			Weighted average grant- date fair value
				RMB
Outstanding as of December 31, 2019		—			—
Replacement		75,010,330			4.87
Granted		39,313,515			27.70
Vested		(63,314,483	)		11.66
Forfeited		(2,721,228	)		11.05
Outstanding as of December 31, 2020		48,288,134			14.20

Expected to vest as of December 31, 2020		44,425,083


	Number of restricted share units			Weighted average grant- date fair value
				RMB
Outstanding as of December 31, 2020		48,288,134			14.20
Granted		7,086,500			132.02
Vested		(18,577,032	)		11.51
Forfeited		(2,937,374	)		43.23
Outstanding as of December 31, 2021		33,860,228			38.75

Expected to vest as of December 31, 2021		30,900,145

Restricted Stock [Member]

Share based Compensation [Line Items]

Summary of Restricted Stock and Restricted Stock Unit, Activity

Activities of the Group’s restricted share for the year ended December 31, 2020 were as follow:


	Number of restricted shares			Weighted average grant- date fair value
				RMB
Outstanding as of December 31, 2019		—			—
Replacement		17,643,400			2.51
Vested		(17,643,400	)		2.51
Outstanding as of December 31, 2020		—

Related Parties (Tables)

12 Months Ended

Dec. 31, 2021

The principal related parties with which the Group had transactions during the years presented are as follows:


Name of Entity or Individual		Relationship with the Company
Mr. Xiaopeng He		Principal Shareholder of the Company, Chairman of the Board and Chief Executive Officer
Guangzhou Huitian Aerospace Technology Co., Ltd. (“Guangzhou Huitian”)		A Company Significantly Influenced by the Principal Shareholder
Guangdong Huitian Aerospace Technology Co., Ltd. (“Guangdong Huitian”)		A Company Significantly Influenced by the Principal Shareholder
Guangzhou Zhongpeng Investment and Development Co., Ltd.		A Company Controlled by the Principal Shareholder
Dogotix		A Company Controlled by the Principal Shareholder
Shenzhen Pengxing Smart Co., Ltd		A Company Controlled by the Principal Shareholder
Shenzhen Pengxing Smart Research Co., Ltd.		A Company Controlled by the Principal Shareholder

CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS - CNY (¥)
¥ in Thousands

12 Months Ended

Dec. 31, 2021

Dec. 31, 2020

Dec. 31, 2019

Revenues

Total revenues

¥ 20,988,131

¥ 5,844,321

¥ 2,321,219

Cost of sales

Total cost of sales

(18,365,576)

(5,578,332)

(2,879,360)

Gross (loss) profit

2,622,555

265,989

(558,141)

Operating expenses

Research and development expenses

^[1]

(4,114,267)

(1,725,906)

(2,070,158)

Fair value gain on derivative liabilities

^[1]

(5,305,433)

(2,920,649)

(1,164,569)

Total operating expenses

^[1]

(9,419,700)

(4,646,555)

(3,234,727)

Other income, net

217,740

86,830

12,294

Loss from operations

(6,579,405)

(4,293,736)

(3,780,574)

Interest income

743,034

133,036

88,843

Interest expenses

(55,336)

(22,451)

(32,017)

79,262

1,362,025

27,679

Fair value gain on long-term investments

591,506

Other non-operating income, net

383,833

90,364

4,397

Loss before income tax expenses

(4,837,106)

(2,730,762)

(3,691,672)

Income tax expenses

(25,990)

(1,223)

(1)

Net loss

(4,863,096)

(2,731,985)

(3,691,673)

Deemed contribution from repurchase of Preferred Shares

(2,157,744)

(961,050)

9,969

Net loss attributable to ordinary shareholders of XPeng Inc.

(4,863,096)

(4,889,729)

(4,642,754)

Other comprehensive loss

Foreign currency translation adjustment, net of nil tax

(918,168)

(724,433)

(2,968)

Total comprehensive loss attributable to XPeng Inc.

(5,781,264)

(3,456,418)

(3,694,641)

Deemed contribution from repurchase of Preferred Shares

(2,157,744)

(961,050)

9,969

Comprehensive loss attributable to ordinary shareholders of XPeng Inc.

¥ (5,781,264)

¥ (5,614,162)

¥ (4,645,722)

Weighted average number of ordinary shares used in computing net loss per ordinary share

Basic and diluted

1,642,906,400

754,270,914

349,450,580

Net loss per ordinary share attributable to ordinary shareholders

Basic and diluted

¥ (2.96)

¥ (6.48)

¥ (13.29)

Vehicle [Member]

Revenues

Total revenues

¥ 20,041,955

¥ 5,546,754

¥ 2,171,231

Cost of sales

Total cost of sales

(17,733,036)

(5,350,479)

(2,733,531)

Service, Other [Member]

Revenues

Total revenues

946,176

297,567

149,988

Cost of sales

Total cost of sales

¥ (632,540)

¥ (227,853)

¥ (145,829)

[1]	Share-based compensation was allocated in operating expenses as follows:

Organization and Nature of Operations - Summary of Company's Principal Subsidiaries and VIEs (Detail)	12 Months Ended
	Dec. 31, 2021	Feb. 13, 2020
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Equity interest held		50.00%
United States [Member]
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Equity interest held	100.00%
Principal activities	Technology development
CHINA [Member]
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Equity interest held	100.00%
Principal activities	Smart charging technologydevelopment
VIE -Date of incorporation or acquisition	May 23, 2018
VIA -Principal activities	Surveying and mapping
HONG KONG
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Equity interest held	100.00%
Principal activities	Investment holding

Accruals and Other Liabilities

12 Months Ended

Dec. 31, 2021

Accounts Payable and Accrued Liabilities, Current [Abstract]

Accruals and Other Liabilities

14.	Accruals and Other Liabilities

Accruals and other liabilities consisted of the following:


	As of December 31,
	2020		2021
Payables for R&D expenses		197,751		939,488
Payables for purchase of property, plant and equipment		596,527		843,732
Employee compensation payable		326,081		810,730
Payables for marketing events		362,570		679,120
Accrued expenses		145,174		364,647
Deposits from third parties		108,301		241,468
Advance from customers		5,437		208,281
Non-controlling interests (i)		98,010		106,596
Warranty provi sions		31,594		105,068
Interest payables		61,997		54,191
Derivative liabilities (Note 5)		—		48,605
Refundable deposit from customers		213,928		18,752
Others		108,795		390,429

Total		2,256,165		4,811,107

Accrued expenses primarily included receipts of goods and services that the Group had not been invoiced yet. As the Group are invoiced for these goods and services, this balance will decrease and accounts payable will increase.

(i) On September 19, 2019, the Group entered into a partnership agreement with Guangzhou Industrial Transformation and Upgrading
Development Fund Co., Limited (“Industrial Fund”) and Shenzhen Antuo Hengyuan Fund management Co., Limited (“Shenzhen Antuo”) to set
up a limited liability partnership entity (the “Kunpeng Kechuang LLP”). Industrial Fund and Shenzhen Antuo subscribed for

RMB98,000 and RMB10

paid in capital in Kunpeng Kechuang LLP in return for

24.5% and 0.0025%,

of the interests in the partnership, respectively. On
October 22, 2019 and October 24, 2019, Industrial Fund and Shenzhen Antuo injected

RMB98,000 and RMB10

in cash to Kunpeng Kechuang LLP, respectively. Pursuant to the investment agreement, Industrial Fund and Shenzhen Antuo do not have substantive participating rights in Kunpeng Kechuang LLP nor they are able to transfer their interests in Kunpeng Kechuang LLP to other third party. In addition, at any time within three years, the Group is entitled to, upon its request or is obligated to, or upon Industrial Fund’s request, to purchase from Industrial Fund all of its interests in Kunpeng Kechuang LLP at its investment amount paid plus interest calculated at the current annual interest rate of the 3-year Treasury Bond in the PRC. Upon the exit of Industrial Fund, Kunpeng Kechuang LLP will be dissolved and Shenzhen Antuo will be entitled to its investment amount paid amounted to RMB10. Based on such arrangements, the Group consolidates Kunpeng Kechuang LLP. The investments by Industrial Fund and Shenzhen Antuo are accounted for as a liability because liability classification is required when the Group enters into a purchased call and written put with the non-controlling interests holders, and the put and call have the same fixed exercise price and exercise date.

The interest payable for the investment by Industrial Fund calculated at the current annual interest rate of the

3-year

Treasury Bond in the PRC amounted to RMB8,586 as of December 31, 2021.

Restricted Net Assets - Additional Information (Detail) - CNY (¥) ¥ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Restricted Net Assets	¥ 41,040,036	¥ 27,751,253
Percentage of after-tax profits for appropriations prior to dividend payment	10.00%
Maximum [Member]
Percentage of general reserve fund on registered capital	50.00%
Percentage of statutory surplus fund on registered capital	50.00%
Minimum [Member]
Percentage of profits after tax to general reserve fund	10.00%
Percentage of statutory surplus fund on profits after tax	10.00%

Other Non-current Assets (Tables)

12 Months Ended

Dec. 31, 2021

Other Assets, Noncurrent [Abstract]

Summary of Other Non-current Assets

Other

non-current

assets consisted of the following:


	As of December 31,
	2020		2021
Prepayment for purchase of land use rights(i)		130,260		1,507,170
Long-term deposits(ii)		60,655		128,791
Prepayments for subscription of equity securities(iii)		—		50,000
Prepayments for purchase of property and equipment		37,212		20,888
Others		506		23,637

Total		228,633		1,730,486

(i)

As of December 31, 2020 and 2021, prepayment for purchase of land use rights represent the cash considerations paid to acquire the land use rights for the constructions of manufacturing plants and R&D buildings.

(ii)

Long-term deposits primarily consist of deposits for offices and retail and service centers whose lease expiration dates are not within one year.

(iii)

In December 2021, the Group prepaid RMB50,000

to subscribe certain common shares of a company engaged in research, development, production and sales of semiconductors, which was subsequently converted into common shares in January 2022.

Property, Plant and Equipment, Net - Additional Information (Detail) - CNY (¥) ¥ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Property, Plant and Equipment [Line Items]
Depreciation expenses	¥ 573,247	¥ 302,974	¥ 125,453
Accumulated impairment loss	34,589	63,251	79,185
Construction In Progress [Member]
Property, Plant and Equipment [Line Items]
Interest expenses capitalized	10,598	26,351	¥ 38,483
Tools, Dies And Molds [Member]
Property, Plant and Equipment [Line Items]
Accumulated impairment loss	¥ 93,786	¥ 135,467

Taxation - Summary of Composition of Income Tax Expenses (Detail) - CNY (¥) ¥ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Components of Income Tax Expense (Benefit), Continuing Operations [Abstract]
Current income tax expenses	¥ 25,990	¥ 1,223	¥ 1
Deferred income tax expenses	0
Income tax expenses	¥ 25,990	¥ 1,223	¥ 1

Disaggregation of Revenue [Abstract]

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

Inventory (Tables)

12 Months Ended

Dec. 31, 2021

Inventory Disclosure [Abstract]

Summary of Inventory

Inventory consisted of the following:


	As of December 31,
	2020		2021
Finished goods		943,945		1,042,719
Raw materials		387,524		1,605,197
Work-in-process		11,556		14,005

Total		1,343,025		2,661,921

Convertible Redeemable Preferred Shares - Summary of Preferred Shares Activities (Details) - CNY (¥) ¥ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Disclosure Of Preferred Shares Activities [Line Items]
Beginning balance (Shares)	566,893,175	489,500,425
Beginning balance	¥ 9,693,478	¥ 6,979,473
Issuance of Preferred Shares post extinguishment,Shares		79,590,650
Issuance of Preferred Shares post extinguishment		¥ 1,801,402
Accretion on Preferred Shares to redemption value post extinguishment	¥ 2,157,744	¥ 961,050
Repurchase of the Preferred Shares,Shares		(2,197,900)
Repurchase of the Preferred Shares		¥ (48,447)
Issuance of Preferred Shares of Series C,Shares	234,840,210
Issuance Of Preferred Shares Of Series C Value	¥ 6,639,361
Conversion of Preferred Shares to Ordinary Shares upon the completion of the IPO,Shares	(801,733,385)
Conversion of Preferred Shares to Ordinary Shares upon the completion of the IPO	¥ (18,490,583)
Ending balance (Shares)	0	566,893,175
Ending balance	¥ 0	¥ 9,693,478
Redeemable Preferred Stock [Member]
Disclosure Of Preferred Shares Activities [Line Items]
Beginning balance (Shares)		0
Beginning balance		¥ 0
Ending balance (Shares)	0
Ending balance	¥ 0
Series A Preferred Stock [Member]
Disclosure Of Preferred Shares Activities [Line Items]
Beginning balance (Shares)	78,108,625	78,108,625
Beginning balance	¥ 597,559	¥ 532,353
Accretion on Preferred Shares to redemption value post extinguishment	¥ 64,863	¥ 65,206
Conversion of Preferred Shares to Ordinary Shares upon the completion of the IPO,Shares	(78,108,625)
Conversion of Preferred Shares to Ordinary Shares upon the completion of the IPO	¥ (662,422)
Ending balance (Shares)	0	78,108,625
Ending balance	¥ 0	¥ 597,559
Series A1 Preferred Stock [Member]
Disclosure Of Preferred Shares Activities [Line Items]
Beginning balance (Shares)	67,802,375	67,802,375
Beginning balance	¥ 559,654	¥ 498,581
Accretion on Preferred Shares to redemption value post extinguishment	¥ 60,854	¥ 61,073
Conversion of Preferred Shares to Ordinary Shares upon the completion of the IPO,Shares	(67,802,375)
Conversion of Preferred Shares to Ordinary Shares upon the completion of the IPO	¥ (620,508)
Ending balance (Shares)	0	67,802,375
Ending balance	¥ 0	¥ 559,654
Series A2 Preferred Stock [Member]
Disclosure Of Preferred Shares Activities [Line Items]
Beginning balance (Shares)	11,671,400	11,671,400
Beginning balance	¥ 121,257	¥ 108,002
Accretion on Preferred Shares to redemption value post extinguishment	¥ 13,635	¥ 13,255
Conversion of Preferred Shares to Ordinary Shares upon the completion of the IPO,Shares	(11,671,400)
Conversion of Preferred Shares to Ordinary Shares upon the completion of the IPO	¥ (134,892)
Ending balance (Shares)	0	11,671,400
Ending balance	¥ 0	¥ 121,257
Series B Preferred Stock [Member]
Disclosure Of Preferred Shares Activities [Line Items]
Beginning balance (Shares)	160,481,700	160,481,700
Beginning balance	¥ 2,562,098	¥ 2,274,403
Accretion on Preferred Shares to redemption value post extinguishment	¥ 332,743	¥ 287,695
Conversion of Preferred Shares to Ordinary Shares upon the completion of the IPO,Shares	(160,481,700)
Conversion of Preferred Shares to Ordinary Shares upon the completion of the IPO	¥ (2,894,841)
Ending balance (Shares)	0	160,481,700
Ending balance	¥ 0	¥ 2,562,098
Series B1 Preferred Stock [Member]
Disclosure Of Preferred Shares Activities [Line Items]
Beginning balance (Shares)	133,272,750	133,272,750
Beginning balance	¥ 3,080,443	¥ 2,685,499
Accretion on Preferred Shares to redemption value post extinguishment	¥ 586,803	¥ 394,944
Conversion of Preferred Shares to Ordinary Shares upon the completion of the IPO,Shares	(133,272,750)
Conversion of Preferred Shares to Ordinary Shares upon the completion of the IPO	¥ (3,667,246)
Ending balance (Shares)	0	133,272,750
Ending balance	¥ 0	¥ 3,080,443
Series B2 Preferred Stock [Member]
Disclosure Of Preferred Shares Activities [Line Items]
Beginning balance (Shares)	35,965,675	38,163,575
Beginning balance	¥ 952,068	¥ 880,635
Accretion on Preferred Shares to redemption value post extinguishment	¥ 186,043	¥ 119,880
Repurchase of the Preferred Shares,Shares		(2,197,900)
Repurchase of the Preferred Shares		¥ (48,447)
Conversion of Preferred Shares to Ordinary Shares upon the completion of the IPO,Shares	(35,965,675)
Conversion of Preferred Shares to Ordinary Shares upon the completion of the IPO	¥ (1,138,111)
Ending balance (Shares)	0	35,965,675
Ending balance	¥ 0	¥ 952,068
Series C Preferred Stock [Member]
Disclosure Of Preferred Shares Activities [Line Items]
Beginning balance (Shares)	79,590,650	0
Beginning balance	¥ 1,820,399	¥ 0
Issuance of Preferred Shares post extinguishment,Shares		79,590,650
Issuance of Preferred Shares post extinguishment		¥ 1,801,402
Accretion on Preferred Shares to redemption value post extinguishment	¥ 912,803	¥ 18,997
Issuance of Preferred Shares of Series C,Shares	234,840,210
Issuance Of Preferred Shares Of Series C Value	¥ 6,639,361
Conversion of Preferred Shares to Ordinary Shares upon the completion of the IPO,Shares	(314,430,860)
Conversion of Preferred Shares to Ordinary Shares upon the completion of the IPO	¥ (9,372,563)
Ending balance (Shares)	0	79,590,650
Ending balance	¥ 0	¥ 1,820,399

Share-based Compensation - Additional Information (Detail)			3 Months Ended	12 Months Ended
	Mar. 26, 2018	Jan. 05, 2018 shares	Mar. 31, 2020 ¥ / shares shares	Dec. 31, 2021 CNY (¥) shares	Dec. 31, 2020 CNY (¥) shares	Dec. 31, 2020 $ / shares shares	Dec. 31, 2019 CNY (¥) shares	Dec. 31, 2019 $ / shares shares	Dec. 31, 2021 $ / shares	Aug. 06, 2020 $ / shares	Jun. 28, 2020 $ / shares	Jan. 05, 2020 shares	Jan. 09, 2019 shares	Jan. 08, 2019 shares	Jan. 05, 2019 shares	Dec. 31, 2018 shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation , options, exercise price \| $ / shares						$ 0.0004		$ 0.0004
Share-based compensation \| ¥				¥ 379,948,000	¥ 996,417,000		¥ 517,000
Common stock par or stated value per share \| $ / shares										$ 0.00001	$ 0.00001
Share Based Compensation Expense \| ¥				¥ 379,948,000	¥ 996,417,000
Number of options outstanding				0	0	0	91,138,700	91,138,700								75,091,640
Share-based Payment Arrangement [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation , options, exercise price \| ¥ / shares			¥ 0.0004
Share-based compensation \| ¥				¥ 0	¥ 0		¥ 0
Share-based Payment Arrangement [Member] \| Share-based Payment Arrangement, Tranche One [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based payment award, award vesting rights, percentage			25.00%
Share-based payment award, award vesting period			4 years
Share-based Payment Arrangement [Member] \| Share-based Payment Arrangement, Tranche Two [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based payment award, award vesting rights, percentage			15.00%
Share-based payment award, award vesting period			4 years
Share option vesting rights percentage			40.00%
Share-based Payment Arrangement [Member] \| Share-based Payment Arrangement, Tranche Three [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based payment award, award vesting rights, percentage			3.75%
Share-based payment award, award vesting period			4 years
Share option vesting rights percentage			85.00%
Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based payment award, award vesting rights, percentage				75.00%
Share-based payment award, award vesting period				3 years
Share option vesting rights percentage				25.00%
Nonvested award, excluding option, cost not yet recognized, amount \| ¥				¥ 840,075,000
Number of shares replaced			75,010,330
Common stock par or stated value per share \| $ / shares									$ 0.00001
Nonvested award, cost not yet recognized, period for Recognition				2 years 21 days
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based payment award, award vesting rights, percentage	50.00%	50.00%
Share-based payment award, award vesting period	2 years	2 years
Share-based compensation \| ¥				¥ 0	¥ 0		¥ 517,000
Number of shares replaced			17,643,400
Share based compensation Arrangement by share based payment award number of shares modified		26,666,675
Percent of number of shares vested		50.00%
Number of shares vested		40,000,000
Number of unvested restricted shares		40,000,000											20,000,000	20,000,000	40,000,000
Number of unvested restricted shares upon modification		26,666,675										13,333,325			13,333,325
Nonvested award, cost not yet recognized, period for Recognition				2 years

Concentration and Risks

12 Months Ended

Dec. 31, 2021

Concentration Risk [Abstract]

Concentration and Risks

4.	Concentration and Risks

(a)	Concentration of credit risk

Assets that potentially subject the Group to significant concentrations of credit risk primarily consist of cash and cash equivalents, restricted cash, short-term deposits, long-term deposits and short-term investment. The maximum exposure of such assets to credit risk is their carrying amounts as of the balance sheet dates. As of December 31, 2020 and 2021, substantially all of the Group’s cash and cash equivalents, restricted cash, short-term deposits, long-term deposits and short-term investments were placed with certain reputable financial institutions in the PRC and overseas. Management chooses these institutions because of their reputations and track records for stability, and their known large cash reserves, and management periodically reviews these institutions’ reputations, track records, and reported reserves. Management expects that any additional institutions that the Group uses for its cash and bank deposits would be chosen with similar criteria for soundness. Bank failure is uncommon in the PRC and the Group believes that those Chinese banks that hold the Group’s cash and cash equivalents, restricted cash, short-term deposits, long-term deposits and short-term investments are financially sound based on publicly available information.

(b)	Foreign currency exchange rate risk

The revenues and expenses of the Group’s entities in the PRC are generally denominated in RMB and their assets and liabilities are denominated in RMB. The Group’s oversea financing activities are denominated in U.S. dollars. The RMB is not freely convertible into foreign currencies. Remittances of foreign currencies into the PRC or remittances of RMB out of the PRC as well as exchange between RMB and foreign currencies require approval by foreign exchange administrative authorities and certain supporting documentation. The State Administration for Foreign Exchange, under the authority of the People’s Bank of China, controls the conversion of RMB into other currencies.

Revenues (Tables)

12 Months Ended

Dec. 31, 2021

Summary of Revenues

Revenues by source consisted of the following:


	For the Year Ended December 31,
	2019		2020		2021
Vehicle sales		2,171,231		5,546,754		20,041,955
Services and others		149,988		297,567		946,176

Total		2,321,219		5,844,321		20,988,131

Leases - Summary of Maturities of The Group's Operating Lease Liabilities (Detail) - CNY (¥) ¥ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Lessee, Operating Lease, Liability, Payment, Due [Abstract]
2020 and 2021	¥ 441,012
2021 and 2022	357,303
2022 and 2023	244,834
2023 and 2024	191,500
2024 and 2025	172,954
Thereafter	398,686
Total minimum lease payments	1,806,289
Less: Interest	(243,047)
Total operating lease liabilities	1,563,242	¥ 472,066
Less: Current portion	(373,488)	(119,565)
Non - current portion of lease obligations	¥ 1,189,754	¥ 352,501

Commitments and Contingencies - Summary of Capital Expenditures (Details) - CNY (¥) ¥ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Long-term Purchase Commitment [Line Items]
Long-term Purchase Commitment, Amount	¥ 1,261,759	¥ 303,809
Property, plant and equipment [Member]
Long-term Purchase Commitment [Line Items]
Long-term Purchase Commitment, Amount	1,241,759	259,417
Investments [Member]
Long-term Purchase Commitment [Line Items]
Long-term Purchase Commitment, Amount	¥ 20,000	¥ 44,392

Subsequent Events - Additional Information (Detail) - CNY (¥) ¥ in Thousands			1 Months Ended				12 Months Ended
	Jan. 04, 2022	Feb. 13, 2020	Mar. 31, 2022	Feb. 28, 2022	Mar. 31, 2021	Jan. 31, 2021	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Subsequent Event [Line Items]
Equity method investment ownership percentage		50.00%
Equity Method Investments Consideration Transferred		¥ 0					¥ 50,000	¥ 0	¥ 0
Subscription Agreement [Member]
Subsequent Event [Line Items]
Business Combination, Consideration Transferred					¥ 150,000
A Business Related to Flight Vehicles [Member]
Subsequent Event [Line Items]
Equity method investment ownership percentage						3.71%
Business Combination, Consideration Transferred						¥ 65,000
Subsequent Event [Member]
Subsequent Event [Line Items]
Stock Issued During Period, Value, New Issues				¥ 775,000
Subsequent Event [Member] \| Share Subscription Agreement [Member] \| A Business Related To Battery [Member]
Subsequent Event [Line Items]
Equity method investment ownership percentage			0.40%
Equity Method Investments Consideration Transferred			¥ 50,000
Subsequent Event [Member] \| A Business Related to Flight Vehicles [Member] \| Zhaoqing Xiaopeng New Energy [Member]
Subsequent Event [Line Items]
Equity method investment ownership percentage	50.00%
Business Combination, Consideration Transferred	¥ 1

Taxation (Tables)

12 Months Ended

Dec. 31, 2021

Income Tax Disclosure [Abstract]

Summary of Composition of Income Tax Expenses

Composition of income tax expenses for the periods presented are as follows:


	For the Year Ended December 31,
	2019		2020		2021
Current income tax expenses		1		1,223		25,990
Deferred income tax expenses		—		—		—

Income tax expenses		1		1,223		25,990

Summary of Reconciliations of the Income Tax Expenses

Reconciliations of the income tax expenses computed by applying the PRC statutory income tax rate of 25% to the Group’s income tax expenses of the years presented are as follows:


	For the Year Ended December 31,
	2019			2020			2021
Loss before income tax expenses		(3,691,672	)		(2,730,762	)		(4,837,106	)
Income tax credit computed at the PRC statutory income tax rate of 25 % (i)		(922,918	)		(682,691	)		(1,209,277	)
Effect of preferential tax rate (ii)		271,242			111,756			254,061
Tax-free income		—			—			(25,000	)
Effect of change in tax rate		213,331			13,920			33,454
Effect of different tax rate of different jurisdictions		(9,853	)		(393,384	)		(323,601	)
Effect of additional deduction for qualified R&D expenses		(236,704	)		(156,713	)		(217,395	)
Non-deductible expenses		2,050			234,328			163,980
Changes in valuation allowance		682,853			874,007			1,349,768

Income tax expenses		1			1,223			25,990

Summary of Components of Deferred Tax Assets


	As of December 31,
	2019			2020			2021
Deferred tax assets:
Net operating loss carry-forwards		1,256,218			2,036,152			3,051,082
Government grants		11,579			43,145			41,565
Impairment of property, plant and equipment		11,878			21,802			12,239
Inventory reserve		27,341			11,233			7,221
Accruals and others		33,928			102,619			452,612
Valuation allowance		(1,340,944	)		(2,214,951	)		(3,564,719	)

Total deferred tax assets, net		—			—			—

Summary of Movement in Valuation Allowance

Full valuation allowances have been provided where, based on all available evidence, management determined that deferred tax assets are not more likely than not to be realizable in future tax years. Movement of valuation allowance is as follow:


	For the Year Ended December 31,
	2019			2020			2021
Valuation allowance
Balance at beginning of the year		658,091			1,340,944			2,214,951
Additions		901,491			889,877			1,511,434
Loss utilized		(5,307	)		(1,950	)		(128,212	)
Effect of change in tax rate		(213,331	)		(13,920	)		(33,454	)
Balance at end of the year		1,340,944			2,214,951			3,564,719

Summary of Tax Loss Carryforwards

The Group has tax losses arising in Mainland China of RMB15,546,804 that will expire in one to ten years for deduction against future taxable profits


Loss expiring in 2022			8,902
Loss expiring in 2023			105,208
Loss expiring in 2024			591,759
Loss expiring in 2025			1,656,578
Loss expiring in 2026			3,455,514
Loss expiring in 2027			310,939
Loss expiring in 2028			1,627,910
Loss expiring in 2029			4,400,603
Loss expiring in 2030			1,406,957
Loss expiring in 2031			1,982,434

Total			15,546,804


Hong Kong			476,572
Others			79,949

Total			556,521

Share-based Compensation - Summary of Fair Value of Each Share Options Granted (Detail) - ¥ / shares	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected term (years)	7 years	7 years
Exercise price	¥ 0.0004	¥ 0.0004
Risk-free interest rate, Minimum	3.10%	2.66%
Risk-free interest rate, Maximum	3.31%	3.31%
Expected dividend yield	0.00%	0.00%
Expected volatility, Minimum	33.35%	33.32%
Expected volatility, Maximum	33.56%	33.56%
Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Fair value of the ordinary shares on the date of option grant	¥ 8.53	¥ 8.60
Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Fair value of the ordinary shares on the date of option grant	¥ 8.36	¥ 8.36

Other Non-Current Liabilities - Summary of Other Non-Current Liabilities (Detail) - CNY (¥) ¥ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Other Liabilities, Noncurrent [Abstract]
Non-controlling interests	¥ 1,708,062	¥ 0
Government grants	174,005	217,682
Warranty provisions	266,072	79,757	¥ 26,217
Total	¥ 2,148,139	¥ 297,439

Long-Term Investments - Additional Information (Detail) ¥ in Thousands, $ in Thousands	Dec. 31, 2021 CNY (¥)	Oct. 31, 2021 CNY (¥)	Oct. 31, 2021 USD ($)	Apr. 30, 2021 CNY (¥)	Jan. 31, 2021 CNY (¥)
Schedule Of LongTermInvestments [Line Items]
Other equity investments	¥ 100,000
Dogotix [Member]
Schedule Of LongTermInvestments [Line Items]
Equity Method Investments				¥ 19,900
Other equity investments	¥ 190,000
Investments, Fair Value Disclosure \| $			$ 6,440
Huitian [Member]
Schedule Of LongTermInvestments [Line Items]
Equity Method Investments		¥ 574,146	90,000		¥ 24,551
Equity Method Investments, Fair Value Disclosure		¥ 591,506
Huitian [Member] \| Convertible Bond [Member]
Schedule Of LongTermInvestments [Line Items]
Equity Method Investments \| $			20,000
Huitian [Member] \| Preferred Stock [Member]
Schedule Of LongTermInvestments [Line Items]
Equity Method Investments \| $			$ 70,000

Land Use Rights, Net

12 Months Ended

Dec. 31, 2021

Land and Land Improvements [Abstract]

Land Use Rights, Net

10.	Land Use Rights, Net

Land use rights and related accumulated amortization consisted of the following:


	As of December 31,
	2020			2021
Land use rights		264,886			620,065
Less: Accumulated amortization		(14,952	)		(24,594	)

Total land use rights, net		249,934			595,471

In November 2017, February 2018, May 2018, January 2021 and July 2021, the Group acquired land use rights to build factories for manufacturing vehicles of the Group in Zhaoqing and Guangzhou of Guangdong province, and Wuhan of Hubei province, the PRC.

The Group recorded amortization expenses for land use rights of RMB5,323, RMB5,323 and RMB9,642 for the years ended December 31, 2019, 2020 and 2021, respectively.

Inventory - Summary of Inventory (Detail) - CNY (¥) ¥ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Inventory Disclosure [Abstract]
Finished goods	¥ 1,042,719	¥ 943,945
Raw materials	1,605,197	387,524
Work-in-process	14,005	11,556
Total	¥ 2,661,921	¥ 1,343,025

Taxation - Summary of Reconciliations of the Income Tax Expenses (Detail) - CNY (¥) ¥ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Effective Income Tax Rate Reconciliation, Amount [Abstract]
Loss before income tax expenses	¥ (4,837,106)	¥ (2,730,762)	¥ (3,691,672)
Income tax expenses computed at the PRC statutory income tax rate of 25%	(1,209,277)	(682,691)	(922,918)
Effect of preferential tax rate	254,061	111,756	271,242
Tax-free income	(25,000)
Effect of change in tax rate	33,454	13,920	213,331
Effect of different tax rate of different jurisdictions	(323,601)	(393,384)	(9,853)
Effect of additional deduction for qualified R&D expenses	(217,395)	(156,713)	(236,704)
Non-deductible expenses	163,980	234,328	2,050
Changes in valuation allowance	1,349,768	874,007	682,853
Income tax expenses	¥ 25,990	¥ 1,223	¥ 1

Leases - Schedule Of Balance Sheet Information Related to Operating Leases (Detail) - CNY (¥) ¥ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Lessee Disclosure [Abstract]
Operating lease right-of-use assets	¥ 1,561,175	¥ 461,184
Lease liabilities - current	373,488	119,565
Lease liabilities - non current	1,189,754	352,501
Total operating lease liabilities	¥ 1,563,242	¥ 472,066

Intangible Assets, Net - Additional Information (Detail) - CNY (¥) ¥ in Thousands			1 Months Ended		3 Months Ended	12 Months Ended
	Jun. 23, 2021	May 20, 2021	Jun. 30, 2020	Mar. 31, 2020	Mar. 31, 2020	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Feb. 13, 2020
Schedule Of Finite Lived And Indefinite Lived Intangible Assets Excluding Goodwill Line Items [Line Items]
Equity method investment ownership percentage									50.00%
Impairment Of Intangible Assets					¥ 0	¥ 0		¥ 0
Manufacturing License [Member]
Schedule Of Finite Lived And Indefinite Lived Intangible Assets Excluding Goodwill Line Items [Line Items]
Impairment Of Intangible Assets						0	¥ 0
Zhipeng Kongjian [Member]
Schedule Of Finite Lived And Indefinite Lived Intangible Assets Excluding Goodwill Line Items [Line Items]
Business combination indfeinitely lived intangible assets acquired	¥ 250,000
Impairment Of Intangible Assets						¥ 0
Related Party Of The Acquiree [Member]
Schedule Of Finite Lived And Indefinite Lived Intangible Assets Excluding Goodwill Line Items [Line Items]
Equity method investment ownership percentage				100.00%	100.00%
Business combination intangible asset acquistion cash consideration payable				¥ 510,000
Cash consideration			¥ 16,000
Related Party Of The Acquiree [Member] \| Zhipeng Kongjian [Member]
Schedule Of Finite Lived And Indefinite Lived Intangible Assets Excluding Goodwill Line Items [Line Items]
Equity method investment ownership percentage		100.00%
Business combination intangible asset acquistion cash consideration payable		¥ 250,000
Share Transfer Agreement [Member] \| Including Manufacturing License Subject To Regulatory Approval [Member]
Schedule Of Finite Lived And Indefinite Lived Intangible Assets Excluding Goodwill Line Items [Line Items]
Business combination intangible assets acquired				¥ 494,000	¥ 494,000

Intangible Assets, Net (Tables)

12 Months Ended

Dec. 31, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Intangible Assets and Goodwill

Intangible assets and related accumulated amortization consisted of the following:


	As of December 31, 2020							As of December 31, 2021
	Gross Carrying Amount		Accumulated amortization			Net Carrying Amount		Gross Carrying Amount		Accumulated amortization			Net Carrying Amount
Finite-lived intangible assets
Software		114,118		(29,264	)		84,854		158,589		(55,052	)		103,537
License of maintenance and overhauls		2,290		(2,290	)		—		2,290		(2,290	)		—

Total finite-lived intangible assets		116,408		(31,554	)		84,854		160,879		(57,342	)		103,537

Indefinite-lived intangible assets
Manufacturing license (i)		494,000		—			494,000		494,000		—			494,000
Surveying and mapping qualification (ii)		—		—			—		250,000		—			250,000
License plates		28,927		—			28,927		31,187		—			31,187

Total indefinite-lived intangible assets		522,927		—			522,927		775,187		—			775,187

Total intangible assets		639,335		(31,554	)		607,781		936,066		(57,342	)		878,724

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense

Total future amortization expenses for finite-lived intangible assets were estimated as follows:


Within 1 year			28,402
Between 1 and 2 years			27,877
Between 2 and 3 years			25,960
Between 3 and 4 years			15,800
Between 4 and 5 years			5,168
Thereafter			330

Total			103,537

Loss Per Share

12 Months Ended

Dec. 31, 2021

Earnings Per Share [Abstract]

Loss Per Share

Basic loss per share and diluted loss per share have been calculated in accordance with ASC 260 on computation of earnings per share for the years ended December 31, 2019, 2020 and 2021 as follows:


	For the Year Ended December 31,
	2019			2020			2021
Numerator:
Net loss		(3,691,673	)		(2,731,985	)		(4,863,096	)
Accretion on Preferred Shares to redemption value		(961,050	)		(2,157,744	)		—
Deemed contribution from repurchase of Preferred Shares		9,969			—			—

Net loss attributable to ordinary shareholders of XPeng Inc.		(4,642,754	)		(4,889,729	)		(4,863,096	)

Denominator:
Weighted average number of ordinary shares outstanding-basic and diluted		349,450,580			754,270,914			1,642,906,400

Basic and diluted net loss per share attributable to ordinary shareholders of XPeng Inc.		(13.29	)		(6.48	)		(2.96	)

For the years ended December 31, 2019, 2020 and 2021, the Company had potential ordinary shares, including

non-vested

share options and RSUs granted and Preferred Shares. As the Group incurred losses for the years ended December 31, 2019, 2020 and 2021, these potential ordinary shares were anti-dilutive and excluded from the calculation of diluted net loss per share of the Company. The weighted-average numbers of

non-vested

share options excluded from the calculation of diluted net loss per share of the Company were 100,442,575 as of December 31, 2019, nil as of December 31, 2020 and 2021. The weighted-average numbers of

non-vested

RSUs excluded from the calculation of diluted net loss per share of the Company were nil as of December 31, 2019, 20,841,866 as of December 31, 2020 and 44,422,384 as of December 31, 2021. Preferred Shares to be converted into ordinary shares were 500,059,108 as of December 31, 2019, nil as of December 31, 2020 and 2021 on a weighted average basis.

Revenues

12 Months Ended

Dec. 31, 2021

Revenue from Contract with Customer [Abstract]

Revenues

. Revenues

Revenues by source consisted of the following:


	For the Year Ended December 31,
	2019		2020		2021
Vehicle sales		2,171,231		5,546,754		20,041,955
Services and others		149,988		297,567		946,176

Total		2,321,219		5,844,321		20,988,131

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-URI http://asc.fasb.org/topic&trid=49130388

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130551-203045

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130556-203045

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130550-203045

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130558-203045

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045

Property, Plant and Equipment [Abstract]

Taxation - Summary of Tax Loss Carryforwards (Detail) ¥ in Thousands	Dec. 31, 2021 CNY (¥)
Operating Loss Carryforwards [Line Items]
Loss	¥ 15,546,804
Tax losses	556,521
Loss expiring in 2022 [Member]
Operating Loss Carryforwards [Line Items]
Loss	8,902
Loss expiring in 2023 [Member]
Operating Loss Carryforwards [Line Items]
Loss	105,208
Loss expiring in 2024 [Member]
Operating Loss Carryforwards [Line Items]
Loss	591,759
Loss expiring in 2025 [Member]
Operating Loss Carryforwards [Line Items]
Loss	1,656,578
Loss expiring in 2026 [Member]
Operating Loss Carryforwards [Line Items]
Loss	3,455,514
Loss expiring in 2027 [Member]
Operating Loss Carryforwards [Line Items]
Loss	310,939
Loss expiring in 2028 [Member]
Operating Loss Carryforwards [Line Items]
Loss	1,627,910
Loss expiring in 2029 [Member]
Operating Loss Carryforwards [Line Items]
Loss	4,400,603
Loss expiring in 2030 [Member]
Operating Loss Carryforwards [Line Items]
Loss	1,406,957
Loss expiring in 2031 [Member]
Operating Loss Carryforwards [Line Items]
Loss	1,982,434
United States [Member]
Operating Loss Carryforwards [Line Items]
Tax losses	79,949
Hong Kong [Member]
Operating Loss Carryforwards [Line Items]
Tax losses	¥ 476,572

Property, Plant and Equipment, Net (Tables)

12 Months Ended

Dec. 31, 2021

Summary of Property, Plant and Equipment, Net

Property, plant and equipment, net, consisted of the following:


	As of December 31,
	2020			2021
Construction in process		223,875			1,760,259
Mold s and tooling s		938,611			1,178,385
Machinery and equipment		1,047,461			1,123,512
Buildings		726,820			860,556
Vehicles		328,555			717,976
Leasehold improvements		216,923			376,219
Charging infrastructure		45,835			262,678
Computer and electronic equipment		87,304			147,273
Others		57,904			93,950

Sub-total		3,673,288			6,520,808

Less: Accumulated depreciation		(456,319	)		(1,002,246	)
Less: Impairment		(135,467	)		(93,786	)

Property, plant and equipment, net		3,081,502			5,424,776

Installment Payment Receivables, Net (Tables)

12 Months Ended

Dec. 31, 2021

Lessor Disclosure [Abstract]

Summary of Sales Type Lease Net Investment In Lease Before Allowance For Credit Loss

Installment payment receivables relating to the installment payments for vehicles

and

batteries from customers consisted of the following:


	As of December 31,
	2020		2021
Current portion of installment payment receivables, net		156,069		887,202
Non-current portion of installment payment receivables, net		397,467		1,863,492

Total		553,536		2,750,694

Summary of Sales-type and Direct Financing Leases, Lease Receivable, Maturity

Payment maturity analysis of installment payment receivables for vehicles and batteries for each of the next five years and a reconciliation of the gross receivables to the present value are as follows:


	As of December 31,
	2021
Within 1 year		1,029,526
Between 1 and 2 years		920,142
Between 2 and 3 years		598,274
Between 3 and 4 years		382,075
Between 4 and 5 years		184,498
Thereafter		5,530

Total receivables of installment payments		3,120,045

Less: Unrealized finance income		(318,220	)

Installment payment receivables , gross		2,801,825
Less: Allowance for installment payment receivables		(51,131	)

Installment payment receivables , net		2,750,694

Borrowings (Tables)

12 Months Ended

Dec. 31, 2021

Debt Disclosure [Abstract]

Summary Of Borrowings

Borrowings consisted of the following:


	As of December 31,
	2020		2021
Current
Short-term borrowings:
Bank loans		127,900		—

Current portion of long-term borrowings		45,000		—

Total current borrowings		172,900		—


Non-Current
Long-term borrowings:
Bank loans		845,000		1,575,106
Other loans		800,000		100,000

Total non-current borrowings		1,645,000		1,675,106

Total borrowings		1,817,900		1,675,106

Share-based Compensation

12 Months Ended

Dec. 31, 2021

Share-based Payment Arrangement [Abstract]

Share-based Compensation

. Share-based Compensation

(a) Share options

During the period between 2015 and the first quarter of 2020, the Group granted share options to the employees to purchase its shares. One share option represents a right to purchase one Class A ordinary share of the Group with exercise price of RMB0.0004. The share options include both service condition and performance condition. For service condition, there are three types of vesting schedule, which are: (i) 25% of the share options shall become vested on each anniversary of the vesting commencement date for four years thereafter; (ii) 40% of the share options shall become vested on the grant date and 15% of the share options become vested on each anniversary of the vesting commencement date for four years thereafter; (iii) 85% of the share options shall become vested on the grant date and 3.75% of the share options become vested on each anniversary of the vesting commencement date for four years thereafter. In addition to the services condition, employees are also required to provide continued service through the satisfaction of the occurrence of Liquidity Event that occurs within seven years after the vesting commencement date. If no Liquidity Event occurs prior to the seventh anniversary of the vesting commencement date, all share options, even those for which the service condition have been satisfied, shall be forfeited.

Share options granted are measured at the grant date fair value of the awards and recognized as expenses using graded vesting method, net of estimated forfeitures, if any, over the requisite service period. Given the vesting of the share options granted is contingent upon the occurrence of the Liquidity Event, there is no share-based compensation expense being recognized before the Replacement (Note 2(z)).

Activities of the Group’s share options during the years ended December 31, 2019 and 2020 were as follows:


	Number of Options Outstanding			Weighted Average Exercise Price		Weighted Average Remaining Contractual Life
				RMB		In Years
Outstanding as of December 31, 2018		75,091,640			0.0004		5.56
Granted		23,599,310			0.0004
Forfeited		(7,552,250	)
Outstanding as of December 31, 2019		91,138,700			0.0004		4.98
Granted		3,788,750			0.0004
Forfeited		(2,273,720	)
Replacement		(92,653,730	)
Outstanding as of December 31, 2020		—					—

After the Replacement mentioned in Note 2(z), all share options granted during the period between 2015 and the first quarter of 2020 were replaced by 75,010,330 RSUs and 17,643,400 restricted shares. Therefore, no share options

were

outstanding as of December 31, 2020 and 2021.

No share-based compensation expenses were recognized for share options during the years ended December 31, 2019, 2020 and 2021. As of December 31, 2020 and 2021, there were

unrecognized share-based compensation expenses in relation to the share options granted to the Group’s employees.

The fair value of each share options granted was estimated on the date of each grant using the Binomial option-pricing model with the assumptions (or ranges thereof) in the following table:


	For the Year Ended December 31,
	2019		2020
Expected term (years) (i)		7		7
Exercise price (RMB)		0.0004		0.0004
Fair value of the ordinary shares on the date of option grant (RMB)		8.36 ~ 8.60		8.36 ~ 8.53
Risk-free interest rate (ii)		2.66% ~ 3.31%		3.10% ~ 3.31%
Expected dividend yield (iii)		0.00%		0.00%
Expected volatility (iv)		33.32% ~ 33.56%		33.35% ~ 33.56%

Notes:

(i)

Expected term is the contract life of the options.

(ii)

The risk-free interest rate of periods within the contractual life of the share option based on the market yield of US Treasury Curve adjusted with the China country risk premium.

(iii)

The dividend yield was estimated by the Company based on its expected dividend policy over the contractual term of the options.

(iv)

The volatility of the underlying ordinary shares during the life of the options was estimated based on the historical stock price volatility of comparable listed companies over a period comparable to the contractual term of the options.

(b) Restricted share units and restricted shares upon and subsequent to the Replacement

After the Replacement mentioned in Note 2(z), all share options granted during the period between 2015 and the first quarter of 2020 were replaced by 75,010,330 RSUs and 17,643,400 restricted shares.

The Replacement did not change the classification and vesting condition of Share-based Awards as equity instruments. No additional share-based compensation expenses were recognized as there was no incremental fair value change immediately before and after the Replacement. Therefore, the replacement awards should be accounted for in the same way as its original awards.

Additional RSUs were granted to the employees in 2020. One RSU represents a right relating to one class A ordinary share of the Group with a par value of US$0.00001 per share.

The RSUs primarily include both service condition and performance condition. For service condition, vesting schedules include: (i) vesting schedules mentioned in Note

(a); (ii) 25% of the RSUs shall become vested on the first anniversary of the vesting commencement date, and the remaining 75% of the RSUs shall become vested in equal installments on each quarterly anniversary of the vesting commencement date for three years thereafter. In addition to the services condition, employees are also required to provide continued service through the satisfaction of the occurrence of Liquidity Event that occurs within seven or ten years after the vesting commencement date. If no Liquidity Event occurs prior to the seventh or tenth anniversary of the vesting commencement date, all RSUs, even those for which the service condition has been satisfied, shall be forfeited.

The Group granted RSUs in 2020 with only performance condition and the RSUs would be vested upon the occurrence of the Liquidity Event. The Group also granted RSUs in 2020 with no conditions and the RSUs would be vested upon grant.

The RSUs granted prior to the completion of the IPO are measured at the grant date fair value of the awards and recognized as expenses using graded vesting method, net of estimated forfeitures, if any, over the requisite service period.

Subsequent to the completion of the IPO, the Group granted RSUs with only service condition to employees and the RSUs would be vested on a straight-line basis over the requisite service period.

Activities of the Group’s RSUs for the years ended December 31, 2020 and 2021 were as follows:


	Number of restricted share units			Weighted average grant- date fair value
				RMB
Outstanding as of December 31, 2019		—			—
Replacement		75,010,330			4.87
Granted		39,313,515			27.70
Vested		(63,314,483	)		11.66
Forfeited		(2,721,228	)		11.05
Outstanding as of December 31, 2020		48,288,134			14.20

Expected to vest as of December 31, 2020		44,425,083


	Number of restricted share units			Weighted average grant- date fair value
				RMB
Outstanding as of December 31, 2020		48,288,134			14.20
Granted		7,086,500			132.02
Vested		(18,577,032	)		11.51
Forfeited		(2,937,374	)		43.23
Outstanding as of December 31, 2021		33,860,228			38.75

Expected to vest as of December 31, 2021		30,900,145

Activities of the Group’s restricted share for the year ended December 31, 2020 were as follow:


	Number of restricted shares			Weighted average grant- date fair value
				RMB
Outstanding as of December 31, 2019		—			—
Replacement		17,643,400			2.51
Vested		(17,643,400	)		2.51
Outstanding as of December 31, 2020		—

Share-based compensation expenses amounting to RMB996,417 and RMB379,948 were recognized for restricted share units and restricted shares upon and subsequent to the Replacement for the years ended December 31, 2020 and 2021, respectively. As of December 31, 2021, there was RMB840,075 of unrecognized compensation expense relating to the restricted share units and restricted shares upon and subsequent to the Replacement. The expense is expected to be recognized over a weighted average period of 2.06 years.

On January 5, 2018, two

co-founders

entered into an arrangement with other investors of the Company, and the number of Restricted Shares is modified to

one-third

of their ordinary shares held as of January 5, 2018, which is 26,666,675 shares. 50% of the Restricted Shares shall become vested on each anniversary of January 5, 2018 for 2 years thereafter.

As of January 5, 2018, only 50% of the Restricted Shares, which is 40,000,000 shares, were vested. Before the modification, there were 40,000,000 unvested Restricted Shares, among which 20,000,000 Restricted Shares to be vested on January 9, 2018 and 20,000,000 Restricted Shares to be vested on January 9, 2019. Upon the modification, there were 26,666,675 unvested Restricted Shares, and each 13,333,325 Restricted Shares to be vested on January 5, 2019 and January 5, 2020, respectively. There were effectively two modifications in the arrangement. Since the Restricted Shares after modifications are still subject to the service condition, excess of the fair value of the modified awards over the fair value of the original awards immediately before the terms are modified at the modification date is considered immaterial. For the reduction of 13,333,325 shares, which is the difference of unvested 40,000,000 shares and 26,666,675 shares, it is effectively a modification to shorten the requisite service period ending from January 9, 2018 to January 5, 2018. Share-based compensation expenses were recognized immediately. Given there is no future requisite service period for the 13,333,325 shares, there is no incremental expense to be further recognized. For the remaining 26,666,675 unvested Restricted Shares, the requisite service period was extended. Unrecognized share-based compensation expenses was recognized over the remaining two years of modified requisite service period.

On March 26, 2018, two

co-founders

entered into an arrangement with other investors of the Company, and Restricted Shares would be subject to requisite service conditions. 50% of the Restricted Shares shall become vested on each anniversary of January 1, 2018 for 2 years thereafter. Pursuant to the arrangement, the vesting commencement date is changed from January 5, 2018 to January 1, 2018, and it is effectively a modification to shorten the requisite service period. Share-based compensation expenses were recognized over the modified requisite service period.

The restricted shares granted to two

co-founders

were measured at the grant date fair value of the awards and recognized as expenses using graded vesting method, net of estimated forfeitures, if any, over the requisite service period.

Vesting schedule of the Restricted Shares for the year ended December 31, 2019 was as follow:


	Number of shares			Weighted average grant date fair value
				RMB
Unvested as of December 31, 2018		13,333,325			10.16
Vested		(13,333,325	)		—

Unvested as of December 31, 2019		—			—

All the Restricted Shares have been vested as of December 31, 2019. No Vesting Schedule of the Restricted Shares during the years ended December 31, 2020 and 2021 was presented

Share-based compensation expenses amounting to RMB517, nil and nil in relation to the Restricted Shares was recognized during years ended December 31, 2019, 2020 and 2021, respectively.

Loss Per Share - Additional Information (Detail) - shares	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Impairment Effects on Earnings Per Share [Line Items]
Convertible preferred stock, shares issued upon conversion	0	0	500,059,108
Share-based Payment Arrangement, Option [Member]
Impairment Effects on Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of EPS	0	0	100,442,575
Restricted Stock Units (RSUs) [Member]
Impairment Effects on Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of EPS	44,422,384	20,841,866	0

Convertible Redeemable Preferred Shares - Additional Information (Detail) ¥ / shares in Units, $ / shares in Units, ¥ in Thousands, $ in Thousands																					12 Months Ended
	Aug. 06, 2020	Jul. 29, 2020 CNY (¥) ¥ / shares shares	Jul. 29, 2020 USD ($) shares	Jul. 24, 2020 CNY (¥) ¥ / shares shares	Jul. 24, 2020 USD ($) shares	Jul. 22, 2020 CNY (¥) ¥ / shares shares	Jul. 22, 2020 USD ($) shares	May 26, 2020 CNY (¥) ¥ / shares shares	May 26, 2020 USD ($) shares	May 11, 2020 CNY (¥) ¥ / shares shares	May 11, 2020 USD ($) shares	Apr. 10, 2020 CNY (¥) ¥ / shares shares	Apr. 10, 2020 USD ($) shares	Dec. 02, 2019 CNY (¥) ¥ / shares shares	Dec. 02, 2019 USD ($) shares	Aug. 01, 2018 CNY (¥) ¥ / shares shares	Mar. 26, 2018 CNY (¥) ¥ / shares shares	Jan. 05, 2018 CNY (¥) ¥ / shares shares	Nov. 27, 2017 CNY (¥) ¥ / shares shares	Jun. 09, 2017 CNY (¥) ¥ / shares shares	Dec. 31, 2021 CNY (¥)	Jul. 29, 2020 $ / shares	Jul. 24, 2020 $ / shares	Jul. 22, 2020 $ / shares	May 26, 2020 $ / shares	May 11, 2020 $ / shares	Apr. 10, 2020 $ / shares	Dec. 02, 2019 $ / shares	Aug. 01, 2018 $ / shares	Mar. 26, 2018 $ / shares	Jan. 05, 2018 $ / shares	Nov. 27, 2017 $ / shares	Jun. 09, 2017 $ / shares
Convertible Redeemable Preferred Shares [Line Items]
Sale of stock, consideration received on transaction														¥ 94	$ 300,000
Sale of stock, price per share \| ¥ / shares																	¥ 343
Stockholders' equity note, stock split, conversion ratio																					1:1
Percent of holders for series																					80.00%
Preferred stock liquidation percent																					50.00%
Dividend right percent																					4.00%
Fund redemption price \| ¥																					¥ 300,000
Fund redemption price annualized interest rate																					8.00%
Liquidation one [Member]
Convertible Redeemable Preferred Shares [Line Items]
Stock liquidation percent																					120.00%
Liquidation two [Member]
Convertible Redeemable Preferred Shares [Line Items]
Debt instrument, interest rate, stated percentage																					12.00%
Stock liquidation percent																					100.00%
Preferred stock redemption one [Member]
Convertible Redeemable Preferred Shares [Line Items]
Preferred stock redemption price percent																					120.00%
Debt instrument, interest rate, stated percentage																					12.00%
Preferred stock redemption two [Member]
Convertible Redeemable Preferred Shares [Line Items]
Preferred stock redemption price percent																					100.00%
Series A Preferred Stock [Member]
Convertible Redeemable Preferred Shares [Line Items]
Sale of stock, number of shares issued in transaction																			2,021,635	1,102,710
Sale of stock, consideration received on transaction \| ¥																			¥ 308,000	¥ 168,000
Sale of stock, price per share \| ¥ / shares																			¥ 152	¥ 152
Stock issued during period, shares, stock splits																			50,540,875	27,567,750
Preferred stock, par or stated value per share \| $ / shares																																$ 0.00001	$ 0.00001
Stockholders' equity note, stock split, conversion ratio																			1:25	1:25
Series A1 Preferred Stock [Member]
Convertible Redeemable Preferred Shares [Line Items]
Sale of stock, number of shares issued in transaction																		2,712,095
Sale of stock, consideration received on transaction \| ¥																		¥ 460,000
Sale of stock, price per share \| ¥ / shares																		¥ 170
Stock issued during period, shares, stock splits																		67,802,375
Preferred stock, par or stated value per share \| $ / shares																															$ 0.00001
Stockholders' equity note, stock split, conversion ratio																		1:25
Series A2 Preferred Stock [Member]
Convertible Redeemable Preferred Shares [Line Items]
Sale of stock, number of shares issued in transaction																		466,856
Sale of stock, consideration received on transaction \| ¥																		¥ 100,000
Sale of stock, price per share \| ¥ / shares																		¥ 214
Stock issued during period, shares, stock splits																		11,671,400
Preferred stock, par or stated value per share \| $ / shares																															$ 0.00001
Stockholders' equity note, stock split, conversion ratio																		1:25
Series B Preferred Stock [Member]
Convertible Redeemable Preferred Shares [Line Items]
Sale of stock, number of shares issued in transaction																	6,419,268
Sale of stock, consideration received on transaction \| ¥																	¥ 2,200,000
Stock issued during period, shares, stock splits																	160,481,700
Preferred stock, par or stated value per share \| $ / shares																														$ 0.00001
Stockholders' equity note, stock split, conversion ratio																	1:25
Series B1 Preferred Stock [Member]
Convertible Redeemable Preferred Shares [Line Items]
Sale of stock, number of shares issued in transaction																5,330,910
Sale of stock, consideration received on transaction \| ¥																¥ 2,900,000
Sale of stock, price per share \| ¥ / shares																¥ 544
Stock issued during period, shares, stock splits																133,272,750
Preferred stock, par or stated value per share \| $ / shares																													$ 0.00001
Stockholders' equity note, stock split, conversion ratio																1:25
Series B2 Preferred Stock [Member]
Convertible Redeemable Preferred Shares [Line Items]
Sale of stock, number of shares issued in transaction																1,526,543
Sale of stock, consideration received on transaction \| ¥																¥ 955,000
Sale of stock, price per share \| ¥ / shares																¥ 626
Stock issued during period, shares, stock splits																38,163,575
Preferred stock, par or stated value per share \| $ / shares																													$ 0.00001
Stockholders' equity note, stock split, conversion ratio																1:25
Series C Preferred Stock [Member]
Convertible Redeemable Preferred Shares [Line Items]
Sale of stock, number of shares issued in transaction		207,588,515	207,588,515	207,588,515	207,588,515	207,588,515	207,588,515	318,363	318,363	795,907	795,907	26,137,425	26,137,425	3,183,626	3,183,626
Sale of stock, consideration received on transaction		¥ 6,271,720	$ 900,000	¥ 6,271,720	$ 900,000	¥ 6,271,720	$ 900,000	¥ 8,555	$ 1,200	¥ 21,231	$ 3,000	¥ 693,123	$ 98,519	¥ 2,107,860
Sale of stock, price per share \| (per share)		¥ 30		¥ 30		¥ 30		¥ 27		¥ 27		¥ 27		¥ 662								$ 4.34	$ 4.34	$ 4.34	$ 3.77	$ 3.77	$ 3.77
Stock issued during period, shares, stock splits														79,590,650	79,590,650
Preferred stock, par or stated value per share \| $ / shares																												$ 0.00001
Stockholders' equity note, stock split, conversion ratio	1:25	1:25	1:25	1:25	1:25	1:25	1:25	1:25	1:25	1:25	1:25	1:25	1:25	1:25	1:25
Series C Preferred Stock [Member] \| Liquidation one [Member]
Convertible Redeemable Preferred Shares [Line Items]
Stock liquidation percent																					120.00%
Series C Preferred Stock [Member] \| Liquidation two [Member]
Convertible Redeemable Preferred Shares [Line Items]
Debt instrument, interest rate, stated percentage																					12.00%
Stock liquidation percent																					100.00%
Series C Preferred Stock [Member] \| Preferred stock redemption one [Member]
Convertible Redeemable Preferred Shares [Line Items]
Preferred stock redemption price percent																					120.00%
Debt instrument, interest rate, stated percentage																					12.00%
Series C Preferred Stock [Member] \| Preferred stock redemption two [Member]
Convertible Redeemable Preferred Shares [Line Items]
Preferred stock redemption price percent																					100.00%

Leases - Summary of Cash Flow Information Related to Operating Leases (Detail) - CNY (¥) ¥ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash outflows from operating leases	¥ 289,456	¥ 132,440	¥ 84,975
Leased assets obtained in exchange for operating lease liabilities	¥ 1,329,021	¥ 130,560	¥ 186,181

Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2021

Summary of Cash and Cash Equivalents

Cash and cash equivalents as reported in the consolidated statements of cash flows are presented separately on the consolidated balance sheets as follows:


	As of December 31,2020				As of December 31,2021
	Amount		RMB equivalent		Amount		RMB equivalent
Cash and cash equivalents:
RMB		4,428,120		4,428,120		8,513,644		8,513,644
US$		3,793,451		24,781,268		281,083		1,788,100
HKD		—		—		852,743		695,738
Others		—		—		not applicable		27,424

Total				29,209,388				11,024,906

Summary of Accounts Receivable, Allowance for Credit Loss

The following table summarizes the activity in the allowance for credit losses related to accounts and notes receivable, other current assets and installment payment receivables for the year ended December 31, 2020 and 2021:


	For the Year Ended
	December 31, 2020
Balance as of December 31, 2019		4,645
Adoption of ASC Topic 326		2,074

Balance as of January 1, 2020		6,719
Current period provision		10,039
Write-offs		(4,251	)

Balance as of December 31, 2020		12,507


	For the Year Ended
	December 31, 2021
Balance as of December 31, 2020		12,507
Current period provision		69,731
Write-offs		(15,142	)

Balance as of December 31, 2021		67,096

Summary of Useful Lives of Property Plant and Equipment


	Estimated useful lives
Buildings		20 years
Machinery and equipment		5 to 10 years
Charging infrastructure		5 years
Vehicles		4 to 5 years
Computer and electronic equipment		3 years
Others		2 to 5 years

Summary of Finite Lived Intangible Assets Useful Lives

Amortization of intangible assets with finite lives are computed using the straight-line method over the estimated useful lives as below:


	Estimated useful lives
Software		2 to 10 years
License of maintenance and overhauls		26 months

Summary of Significant Accounting Policies - Summary of Account Receivable and Allowance for Credit Loss (Details) - CNY (¥) ¥ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Beginning balance	¥ 12,507	¥ 6,719
Current period provision	69,731	10,039
Write-offs	(15,142)	(4,251)
Ending balance	¥ 67,096	12,507
Adoption of ASC Topic 326
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Beginning balance		4,645
Adoption of ASC Topic 326		¥ 2,074

Intangible Assets, Net - Schedule of Intangible Assets and Goodwill (Detail) - CNY (¥) ¥ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Schedule Of Finite Lived And Indefinite Lived Intangible Assets Excluding Goodwill [Line Items]
Gross Carrying Amount	¥ 160,879	¥ 116,408
Accumulated amortization	(57,342)	(31,554)
Total	103,537	84,854
Indefinite-lived intangible assets	775,187	522,927
Total intangible assets Gross Carrying Amount	936,066	639,335
Total intangible assets - Accumulated amortization	(57,342)	(31,554)
Total intangible assets - Net Carrying Amount	878,724	607,781
Manufacturing License [Member]
Schedule Of Finite Lived And Indefinite Lived Intangible Assets Excluding Goodwill [Line Items]
Gross Carrying Amount	494,000	494,000
Total	494,000	494,000
License Plate [Member]
Schedule Of Finite Lived And Indefinite Lived Intangible Assets Excluding Goodwill [Line Items]
Gross Carrying Amount	31,187	28,927
Total	31,187	28,927
Surveying And Mapping Qualification [Member]
Schedule Of Finite Lived And Indefinite Lived Intangible Assets Excluding Goodwill [Line Items]
Gross Carrying Amount	250,000
Total	250,000
Software and Software Development Costs [Member]
Schedule Of Finite Lived And Indefinite Lived Intangible Assets Excluding Goodwill [Line Items]
Gross Carrying Amount	158,589	114,118
Accumulated amortization	(55,052)	(29,264)
Total	103,537	84,854
License Of Maintenance And Overhauls [Member]
Schedule Of Finite Lived And Indefinite Lived Intangible Assets Excluding Goodwill [Line Items]
Gross Carrying Amount	2,290	2,290
Accumulated amortization	¥ (2,290)	¥ (2,290)

CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS (Parenthetical) - CNY (¥) ¥ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Share Based Compensation Expense	¥ 379,948	¥ 996,417
Selling, General and Administrative Expenses [Member]
Share Based Compensation Expense	154,995	678,014	¥ 517
Research and Development Expense [Member]
Share Based Compensation Expense	¥ 224,953	¥ 318,403	¥ 0

Intangible Assets, Net

12 Months Ended

Dec. 31, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets, Net

9 .	Intangible Assets, Net

Intangible assets and related accumulated amortization consisted of the following:


	As of December 31, 2020							As of December 31, 2021
	Gross Carrying Amount		Accumulated amortization			Net Carrying Amount		Gross Carrying Amount		Accumulated amortization			Net Carrying Amount
Finite-lived intangible assets
Software		114,118		(29,264	)		84,854		158,589		(55,052	)		103,537
License of maintenance and overhauls		2,290		(2,290	)		—		2,290		(2,290	)		—

Total finite-lived intangible assets		116,408		(31,554	)		84,854		160,879		(57,342	)		103,537

Indefinite-lived intangible assets
Manufacturing license (i)		494,000		—			494,000		494,000		—			494,000
Surveying and mapping qualification (ii)		—		—			—		250,000		—			250,000
License plates		28,927		—			28,927		31,187		—			31,187

Total indefinite-lived intangible assets		522,927		—			522,927		775,187		—			775,187

Total intangible assets		639,335		(31,554	)		607,781		936,066		(57,342	)		878,724

The Group recorded amortization expenses of RMB7,681, RMB20,169 and RMB25,875 for the years ended December 31, 2019, 2020 and 2021, respectively.

Total future amortization expenses for finite-lived intangible assets were estimated as follows:


Within 1 year			28,402
Between 1 and 2 years			27,877
Between 2 and 3 years			25,960
Between 3 and 4 years			15,800
Between 4 and 5 years			5,168
Thereafter			330

Total			103,537

(i) In March 2020, the Group acquired a 100% equity interest in a company (the “Acquiree”) for a cash consideration of

RMB510

million. Shortly
thereafter, in June 2020, the Acquiree was sold for RMB16 million in cash. The net consideration of

RMB494

million was allocated to the manufacturing license which was the principal asset of the Acquiree and eventually retained by the Group after the sale. This transaction was structured and accounted for as an asset acquisition, where the retained asset constituted substantially the Acquiree’s value and has an indefinite life (under PRC regulations the license does not have a prescribed period for valid use). No impairment was recognized for the license as of December 31, 2020 and 2021.

(ii) Acquisition of the 100% equity interest in Zhipeng Kongjian

On May 20, 2021, the Group entered into a restructuring agreement to acquire

100%

of the equity interests of Zhipeng Kongjian at a cash consideration of RMB

250

million during the bankruptcy procedures undertaken by Zhipeng Kongjian. Subsequently, Zhipeng Kongjian became a subsidiary of a VIE of the Group through a series of arrangements made (Note 1(c)). Zhipeng Kongjian is primarily engaged in the operations of land surface mobile surveying and preparing true three-dimensional maps and navigation electronic maps and it possesses a surveying and mapping qualification certificate. Upon completion of the acquisition on June 23, 2021, the consideration of RMB250 million was mainly allocated to the surveying and mapping qualification certificate since other assets retained by Zhipeng Kongjian was immaterial, and the Acquisition was determined to be an asset acquisition for accounting purpose. The useful life of this certificate is assessed as indefinite as it is expected that there is no difficulty for the Group to renew the valid period of the qualification under the relevant PRC laws and regulations. No impairment was recognized for the certificate as of December 31, 2021.

Manufacturing in Collaboration with Haima Auto	12 Months Ended
Manufacturing in Collaboration with Haima Auto	Dec. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Manufacturing in Collaboration with Haima Auto	2 0 . Manufacturing in Collaboration with Haima Auto On March 31, 2017, the Group entered into a contract arrangement with Haima Auto for the manufacture of vehicles. The agreement will expire on December 31, 2021, and such agreements are renewable by mutual consent. Pursuant to the arrangement, starting from 2018, Haima Auto provides an annual production capacity of 50,000 units, for the manufacturing of G3. While Haima is in charge of the day-to-day operations of the plant, the Group retains effective control over the supply chain, the manufacturing process, testing and quality control. For each vehicle produced, the Group will incur manufacturing cost on a per-vehicle basis monthly. The Group did not have any compensation or fees for Haima Auto other than the aforementioned manufacturing cost. In consideration of commercial development needs, the Group and Haima came to a mutual consent that the former agreement would not be renewed and signed a transitional agreement in August 2021 for the termination of the manufacturing of vehicles in Haima plant and the corresponding relocation arrangements. As a result of the transitional and relocation agreement, relocation and disposal costs were incurred and borne by the Group, of which RMB132,856 was recognized as other operating expenses for the year ended December 31, 2021. The relocation and disposal costs of RMB96,031 were or will be incurred in the form of cash , while the remaining amounts were non-cash. For the year ended December 31, 2021, RMB43,755 was paid in cash and the remaining cash amounts shall be paid substantially in 2022.

Prepayments and Other Current Assets (Tables)

12 Months Ended

Dec. 31, 2021

Prepaid Expense and Other Assets, Current [Abstract]

Summary of Prepayments And Other Current Assets

Prepayments and other current assets consisted of the following:


	As of December 31,
	2020		2021
Prepayments		909,327		1,300,805
Deductible input value-added tax		521,630		484,257
Deposits		30,006		83,939
Receivables from third party online payment service providers		16,988		78,620
Derivative assets (Note 5)		105,183		—
Others		125,335		301,062

Total		1,708,469		2,248,683

Other Non-Current Liabilities - Summary of Movements of Accrued Warranty (Detail) - CNY (¥) ¥ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Standard Product Warranty Disclosure [Abstract]
Accrued warranty - beginning of year	¥ 111,351	¥ 34,597	¥ 73
Warranty costs incurred	(32,352)	(925)	(575)
Provision for warranty	292,141	77,679	35,099
Accrued warranty - end of year	371,140	111,351	34,597
Less: Current portion of warranty	(105,068)	(31,594)	(8,380)
Non-current portion of warranty	¥ 266,072	¥ 79,757	¥ 26,217

Accruals and Other Liabilities - Summary of Accruals and Other Liabilities (Detail) - CNY (¥) ¥ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Accounts Payable and Accrued Liabilities, Current [Abstract]
Payable for R&D expenses	¥ 939,488	¥ 197,751
Payables for purchase of property, plant and equipment	843,732	596,527
Employee compensation payable	810,730	326,081
Payables for marketing events	679,120	362,570
Accrued expenses	364,647	145,174
Deposits from third parties	241,468	108,301
Advances from customers	208,281	5,437
Noncontrolling interests	106,596	98,010
Warranty provisions	105,068	31,594
Interest payables	54,191	61,997
Derivative liabilities	48,605	0
Refundable deposit from customers	18,752	213,928
Others	390,429	108,795
Total	¥ 4,811,107	¥ 2,256,165

Accruals and Other Liabilities - Summary of Accruals and Other Current Liabilities (Parenthetical) (Detail) - CNY (¥) ¥ in Thousands	Oct. 24, 2019	Oct. 22, 2019	Dec. 31, 2021	Dec. 31, 2020	Sep. 19, 2019
Accounts Payable And Accrued Liabilities Current [Line Items]
Interest payables			¥ 54,191	¥ 61,997
Kunpeng Kenchuang LLP [Member]
Accounts Payable And Accrued Liabilities Current [Line Items]
Interest payables			¥ 8,586
Kunpeng Kenchuang LLP [Member] \| Guangzhou Industrial Transformation and Upgrading Development Fund Co., Limited [Member]
Accounts Payable And Accrued Liabilities Current [Line Items]
Payable to non controlling interest for limited partnership interest					¥ 98,000
Payment to acquire limited partnership interests		¥ 98,000
Percentage of non controlling interest in limited partnership firm					24.50%
Kunpeng Kenchuang LLP [Member] \| Shenzhen Antuo Hengyuan Fund management Co., Limited [Member]
Accounts Payable And Accrued Liabilities Current [Line Items]
Payable to non controlling interest for limited partnership interest					¥ 10
Payment to acquire limited partnership interests	¥ 10
Percentage of non controlling interest in limited partnership firm					0.0025%

Installment Payment Receivables, Net - Additional Information (Detail) - CNY (¥) ¥ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Lessor Disclosure [Abstract]
Interest income	¥ 89,895	¥ 17,115	¥ 4,929
Allowance for Credit Losses	51,131	4,287
Current Portion of Installment Payment Receivables	905,435	156,068
Long-Term Portion of Installment Payment Receivables	¥ 1,896,390	¥ 401,755

Intangible Assets, Net - Schedule of Finite-Lived Intangible Assets, Future Amortization Expense (Detail) - CNY (¥) ¥ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Within 1 year	¥ 28,402
Between 1 and 2 years	27,877
Between 2 and 3 years	25,960
Between 3 and 4 years	15,800
Between 4 and 5 years	5,168
Thereafter	330
Total	¥ 103,537	¥ 84,854

Loss Per Share - Summary of Earnings Per Share, Basic and Diluted (Detail) - CNY (¥) ¥ / shares in Units, ¥ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Earnings Per Share [Abstract]
Net loss	¥ (4,863,096)	¥ (2,731,985)	¥ (3,691,673)
Accretion on Preferred Shares to redemption value	0	(2,157,744)	(961,050)
Deemed contribution from repurchase of Preferred Shares	0	0	9,969
Net loss attributable to ordinary shareholders of XPeng Inc.	¥ (4,863,096)	¥ (4,889,729)	¥ (4,642,754)
Basic and diluted	1,642,906,400	754,270,914	349,450,580
Basic and diluted	¥ (2.96)	¥ (6.48)	¥ (13.29)

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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Amount, after deduction of tax, noncontrolling interests, dividends on preferred stock and participating securities; of income (loss) available to common shareholders.

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Related Parties - Additional Information (Detail) - CNY (¥) ¥ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Related Party Transaction [Line Items]
Loans from a related party	¥ 0	¥ 1,063,434	¥ 0
Interest expense on the loans from a shareholder	0	5,922	0
Amounts due to a related party	24,919	12,062
Purchases from related party	2,793
Rental income from a related party	40
Purchase of service from related parties	54
Operation Support Service [Member]
Related Party Transaction [Line Items]
Related Party Transaction, Amounts of Transaction	36,857
Goods Provided To The Companies [Member]
Related Party Transaction [Line Items]
Related Party Transaction, Amounts of Transaction	140
XiaopengHe [Member]
Related Party Transaction [Line Items]
Amount due from related parties		682
Rental expenses to a shareholder	10,150	10,150	0
Purchases from related party	698	999
Rental income from a related party	862	166
Purchase of service from related parties	101
XiaopengHe [Member] \| Rental Expense [Member]
Related Party Transaction [Line Items]
Amounts due to a related party		11,063	999
XiaopengHe [Member] \| Operation Support Service [Member]
Related Party Transaction [Line Items]
Amounts due to a related party	15,804	15,403	¥ 1,578
Purchases from related party	2,300
Guangzhou Huitian [Member] \| Rental Expense [Member]
Related Party Transaction [Line Items]
Amounts due to a related party	¥ 22,126	¥ 2,793

Land Use Rights, Net - Summary of Land Use Rights and Related Accumulated Amortization (Detail) - Use Rights [Member] - CNY (¥) ¥ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Schedule Of Land Use Rights Finite Lived [Line Items]
Land use rights	¥ 620,065	¥ 264,886
Less: Accumulated amortization	(24,594)	(14,952)
Total	¥ 595,471	¥ 249,934

Long-Term Investments

12 Months Ended

Dec. 31, 2021

Long-term Investments [Abstract]

Long-Term Investments

Long-term investments

Long-term

investments consisted of the following:


	Equity investments without readily determinable fair values (i)			Debt investments (ii)			Total
Balance at December 31, 2020		1,000			—			1,000
Additons		209,900			749,955			959,855
Fair value change through earnings		—			591,506			591,506
Foreign currency translation		(546	)		(2,639	)		(3,185	)

Balance at December 31, 2021		210,354			1,338,822			1,549,176

(i)

Equity investments without readily determinable fair values

Investment in Dogotix Inc. (“Dogotix”)

Dogotix is a company incorporated in the Cayman Islands with limited liability and is mainly engaged in research and development of robots with human-robot interaction function. In April 2021, the Group acquired minority preferred equity interests of Dogotix, a related party of the Group,
for a total cash consideration of

RMB19,900

during Dogotix’s Angel round of fund raising. The equity interests were not considered to be
in-substance common stock as the preferred stock has substantive liquidation preference over the investee’s common stock. The investment is considered as equity securities that do not have readily determinable fair values given that it is a privately held company. Accordingly, the Group elected to use the measurement alternative under ASC 321 to measure such investment.

Other equity investments

In December 2021, the Group acquired minority common equity interests of a company, engaged in manufacturing of batteries for new energy vehicles for a total cash consideration of

RMB190,000.

The equity interests in common stock do not have readily determinable fair values because the investee is a privately held company. Accordingly, the Group elected to use the measurement alternative under ASC 321 to measure such investment.

(ii)

Debt investments

Investment in H

Flying Car Inc. (“Huitian”)

Huitian is a company incorporated in the Cayman Islands with limited liability and is mainly engaged in research, development, production and sales of flying vehicles. In January 2021, the Group acquired minority preferred equity interests of Huitian (“Huitian’s Series Angel preferred shares”), a related party of the Group, for a total consideration of

RMB24,551

during Huitian’s Angel round of fund raising. The equity interests were not considered to be in-substance common stock as the preferred stock has substantive liquidation preference over the investee’s common stock. Huitian’s Series Angel preferred shares investment are considered equity securities that do not have readily determinable fair values given that it is a privately held company. Accordingly, upon the acquisition of the minority preferred equity interests of Huitian, the Group elected to use the measurement alternative under ASC 321 to measure such investment.

In October 2021, the Group further invested US$90,000

quivalent to RMB574,146 as of the injection date, into Huitian during Huitian’s A round of fund raising. Among this investment,

US$70,000

was in form of preferred shares (“Huitian’s Series A preferred shares”) and

US$20,000

was in form of a convertible bond. Concurrently, Huitian’s Series Angel preferred shares previously acquired by the Group in January 2021 were modified to align with the terms of the newly invested Huitian’s Series A preferred shares. The Group concluded that both Huitian’s Series Angel and Series A preferred shares investment are debt securities since Huitian’s Series Angel (with now modified terms) and Series A preferred shares held by the Group are redeemable merely by the passage of time and redeemable at the option of the Group.

In anticipation of the change in accounting model applicable to Huitian’s Series Angel preferred shares as a result of the modification, the Group opted to change its measurement accounting policy relating to Huitian’s Series Angel preferred shares as permitted by ASC 321, and elected to measure the original Huitian’s Series Angel preferred shares at fair value immediately before the modification (discussed in the preceding paragraph). The difference of

RMB591,506

between the carrying value and the fair value of Huitian’s Series Angel preferred shares immediately before the modification was recognized in earnings. The Group then reclassified Huitian’s Series Angel preferred shares from equity securities to debt securities upon the modification. The modified Huitian’s Series Angel preferred shares investment together with the new Series A preferred shares investment will be measured on an ongoing basis at fair value with changes recognized in earnings. In addition, the convertible bond (acquired in October 2021) held by the Group in Huitian was also accounted for under the fair value option.

Investment in Dogotix

In October 2021, the Group acquired Dogotix’s convertible bonds in

the

amount of US$6,440

(equivalent to RMB41,258 as of injection date) and elected to account for this investment at fair value option.

Other principal debt investments

In December 2021, the Group acquired minority preferred equity interests of a company engaged in research, development, production and sales of LiDAR for a total cash consideration of

RMB100,000.

The preferred shares held by the Group become redeemable merely by the passage of time and is redeemable at the option of the Group as a holder. Accordingly, the Group elected to account for this investment under the fair value option.

Leases - Schedule of Other Information Related to Operating Leases (Detail)	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Lessee Disclosure [Abstract]
Weighted-average remaining lease term	5 years 3 months 18 days	4 years	5 years 4 months 24 days
Weighted-average discount rate	4.71%	4.43%	4.48%

Other Non-current Assets - Additional Information (Detail) ¥ in Thousands	Dec. 31, 2021 CNY (¥)
Other Assets, Noncurrent [Abstract]
Prepayments for subscription of Common shares	¥ 50,000

Borrowings - Summary of Borrowings (Detail) - CNY (¥) ¥ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Debt, Current [Abstract]
Bank loans	¥ 0	¥ 127,900
Current portion of long-term borrowings	0	45,000
Total current borrowings	0	172,900
Non-Current
Bank loans	1,575,106	845,000
Other loans	100,000	800,000
Total non-current borrowings	1,675,106	1,645,000
Total borrowings	¥ 1,675,106	¥ 1,817,900

Organization, Consolidation and Presentation of Financial Statements [Abstract]

The carrying value as of the balance sheet date of the noncurrent portion of long-term obligations drawn from a line of credit, which is a bank's commitment to make loans up to a specific amount. Examples of items that might be included in the application of this element may consist of letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to a maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. Includes short-term obligations that would normally be classified as current liabilities but for which (a) postbalance sheet date issuance of a long term obligation to refinance the short term obligation on a long term basis, or (b) the enterprise has entered into a financing agreement that clearly permits the enterprise to refinance the short-term obligation on a long term basis and the following conditions are met (1) the agreement does not expire within 1 year and is not cancelable by the lender except for violation of an objectively determinable provision, (2) no violation exists at the BS date, and (3) the lender has entered into the financing agreement is expected to be financially capable of honoring the agreement.

+ References + Details

Company Financial Statements (Parent Company Only)

12 Months Ended

Dec. 31, 2021

Company Financial Statements

30.	Company Financial Statements (Parent Company Only)

The Company performed a test on the restricted net assets of its consolidated subsidiaries and VIEs in accordance with Securities and Exchange Commission Regulation

S-X

Rule

4-08

(e) (3), “General Notes to Financial Statements” and concluded that it was applicable for the Company to disclose the financial information for the Company only (parent company only).

The subsidiaries did not pay any dividend to the Company for the years presented. Certain information and footnote disclosures generally included in financial statements prepared in accordance with U.S. GAAP have been condensed and omitted. The footnote disclosures contain supplemental information relating to the operations of the Company, as such, these statements are not the general-purpose financial statements of the reporting entity and should be read in conjunction with the notes to the consolidated financial statements of the Company.

The Company did not have significant capital and other commitments, or guarantees as of December 31, 2021.

Condensed Balance Sheets


	As of December 31,
	2020		2021
	RMB		RMB
ASSETS
Current assets
Cash and cash equivalents		24,760,588		4,453,841
Restricted cash		114,321		57,253
Short-term deposits		979,897		14,457,154
Prepayments and other current assets		118,114		4,980
Total current assets		25,972,920		18,973,228

Non-current assets
Investments in subsidiaries and VIEs		8,471,310		22,269,421
Long-term deposits		—		955,907
Total non-current assets		8,471,310		23,225,328

Total assets		34,444,230		42,198,556

Liabilities
Current liabilities
Accruals and other liabilities		14,421		51,978

Total current liabilities		14,421		51,978

Total liabilities		14,421		51,978

Condensed Balance Sheet


		As of December 31,
	Note	2020			2021
		RMB			RMB
SHAREHOLDERS’ EQUITY
Class A Ordinary shares			63			87
Class B Ordinary shares			26			25
Class C Ordinary shares			12			—
Additional paid-in capital			46,482,512			59,980,534
Statutory reserve			—			6,047
Accumulated deficit			(11,322,423	)		(16,191,566	)
Accumulated other comprehensive loss			(730,381	)		(1,648,549	)

Total shareholders’ equity			34,429,809			42,146,578

Total liabilities and shareholders’ equity			34,444,230			42,198,556

Condensed Statements of Comprehensive Loss


		For the Year Ended December 31,
	Note	2019			2020			2021
		RMB			RMB			RMB
Operating expenses
Selling, general and administrative expenses			(517	)		(13,430	)		(8,966	)

Total operating expenses			(517	)		(13,430	)		(8,966	)

Loss from operations			(517	)		(13,430	)		(8,966	)
Interest income			1,140			43,001			208,463
Interest expense			—			(5,935	)		—
Equity in loss of subsidiaries and VIEs			(3,719,975	)		(4,487,049	)		(5,696,578	)
Other non-operating income, net			—			369,403			554,723
Fair value gain on derivative liabilities			27,679			1,362,025			79,262

Loss before income tax expenses			(3,691,673	)		(2,731,985	)		(4,863,096	)

Income tax expenses			—			—			—

Net loss			(3,691,673	)		(2,731,985	)		(4,863,096	)

Accretion on Preferred Shares to redemption value			(961,050	)		(2,157,744	)		—
Deemed contribution from repurchase of Preferred Shares			9,969			—			—

Net loss attributable to ordinary shareholders of XPeng Inc.			(4,642,754	)		(4,889,729	)		(4,863,096	)

Net loss			(3,691,673	)		(2,731,985	)		(4,863,096	)

Other comprehensive loss
Foreign currency translation adjustment, net of nil tax			(2,968	)		(724,433	)		(918,168	)

Total comprehensive loss attributable to XPeng Inc.			(3,694,641	)		(3,456,418	)		(5,781,264	)

Accretion on Preferred Shares to redemption value			(961,050	)		(2,157,744	)		—
Deemed contribution from repurchase of Preferred Shares			9,969			—			—

Comprehensive loss attributable to ordinary shareholders of XPeng Inc.			(4,645,722	)		(5,614,162	)		(5,781,264	)

Condensed Statements of Cash Flows


	For the Year Ended December 31,
	2019			2020			2021
	RMB			RMB			RMB
				(As Revised) (Note (i))
Cash flows from operating activities		1,140			23,636			232,625

Cash flows from investing activities
Placement of term deposits		—			(979,897	)		(14,607,257	)
Investment in equity investees		(1,658,783	)		(7,825,007	)		19,015,285	)
Maturities of derivative assets		—			—			233,050

Net cash used in investing activities		(1,658,783	)		(8,804,904	)		(33,389,492	)

Cash flows from financing activities
Proceeds from issuance of Preferred Shares		1,926,812			6,561,323			—
Proceeds from IPO, net of issuance cost		—			11,410,386			—
Proceeds from FO, net of issuance cost		—			15,988,903			—
Proceeds from Global Offering, net of issuance cost		—			—			13,146,811
Payments of listing expenses		—			—			(36,924	)

Net cash provided by financing activities		1,926,812			33,960,612			13,109,887

Effects of exchange rate changes on cash, cash equivalents and restricted cash		—			(573,604	)		(316,835	)
Net increase (decrease) in cash, cash equivalents and restricted cash		269,169			24,605,740			(20,363,815	)
Cash, cash equivalents and restricted cash at beginning of the year		—			269,169			24,874,909

Cash, cash equivalents and restricted cash at end of the year		269,169			24,874,909			4,511,094

(i) Revision to Previously Reported Cash Flow Information of Parent Company

The Company revised the parent company-only condensed statement of cash flows for the year ended December 31, 2020, as presented above, to correct for errors in the preparation of the prior disclosures. The errors had no impact on the previously reported consolidated financial statements. Management has determined that the errors were immaterial and should be corrected through a revision of previously reported information.

Details of the revision are as follows:

Condensed Statement of Cash Flows


	For the Year Ended December 31, 2020
	As Previously Reported			Revisions			As Revised
	RMB			RMB			RMB
Cash flows from operating activities		23,636			—			23,636

Cash flows from investing activities
Placement of term deposits		(979,897	)		—			(979,897	)
Investment in equity investees		(8,512,932	)		687,925			(7,825,007	)

Net cash used in investing activities		(9,492,829	)		687,925			(8,804,904	)

Cash flows from financing activities
Proceeds from issuance of Preferred Shares		6,561,323			—			6,561,323
Proceeds from IPO, net of issuance cost		11,410,386			—			11,410,386
Proceeds from FO, net of issuance cost		15,988,903			—			15,988,903

Net cash provided by financing activities		33,960,612			—			33,960,612

Effects of exchange rate changes on cash, cash equivalents and restricted cash		—			(573,604	)		(573,604	)
Net increase (decrease) in cash, cash equivalents and restricted cash		24,491,419			114,321			24,605,740
Cash, cash equivalents and restricted cash at beginning of the year		269,169			—			269,169

Cash, cash equivalents and restricted cash at end of the year		24,760,588			114,321			24,874,909

(ii) Basis of presentation

The Company’s accounting policies are the same as the Group’s accounting policies with the exception of the accounting for the investments in subsidiaries and VIEs.

For the Company only condensed financial information, the Company records its investments in subsidiaries and VIEs under the equity method of accounting as prescribed in ASC 323, Investments—Equity Method and Joint Ventures.

Such investments are presented on the Condensed Balance Sheets as “Investments in subsidiaries and VIEs” and shares in the subsidiaries and VIEs’ loss are presented as “Equity in loss of subsidiaries and VIEs” on the Condensed Statements of Comprehensive Loss. The parent company only condensed financial information should be read in conjunction with the Group’s consolidated financial statements.

Taxation - Additional Information (Detail) - CNY (¥) ¥ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Operating Loss Carryforwards [Line Items]
Loss	¥ 15,546,804
Tax losses	¥ 556,521
Inland Revenue, Hong Kong [Member]
Operating Loss Carryforwards [Line Items]
Statutory income tax rate	16.50%
Tax losses	¥ 476,572
United States [Member]
Operating Loss Carryforwards [Line Items]
Statutory income tax rate			27.98%
Tax losses	¥ 79,949
PRC [Member]
Operating Loss Carryforwards [Line Items]
Statutory income tax rate	25.00%
Preferential income tax rate	25.00%
Withholding tax rate	10.00%
Effective income tax rate reconciliation, tax credit, research, percent		75.00%		50.00%
PRC [Member] \| HNTE [Member]
Operating Loss Carryforwards [Line Items]
Preferential income tax rate	15.00%
PRC [Member] \| Beneficial Owner [Member]
Operating Loss Carryforwards [Line Items]
Withholding tax rate	5.00%
Hong Kong and Others [Member]
Operating Loss Carryforwards [Line Items]
Tax losses	¥ 556,521

Inventory - Additional Information (Detail) - CNY (¥) ¥ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Inventory Disclosure [Abstract]
Inventory write-downs	¥ 162,433	¥ 92,612	¥ 109,505

Ordinary Shares - Additional Information (Detail) $ / shares in Units, ¥ in Thousands, $ in Thousands									1 Months Ended		12 Months Ended
	Dec. 31, 2021 $ / shares shares	Jul. 07, 2021 $ / shares shares	Dec. 14, 2020 CNY (¥) shares	Dec. 14, 2020 USD ($) shares	Aug. 27, 2020 CNY (¥) shares	Aug. 27, 2020 USD ($) $ / shares shares	Aug. 06, 2020 $ / shares shares	Jun. 28, 2020 $ / shares shares	Aug. 31, 2020 CNY (¥)	Sep. 30, 2019 shares	Dec. 31, 2021 CNY (¥)	Dec. 31, 2020 CNY (¥) shares	Dec. 31, 2019 CNY (¥)	Dec. 31, 2020 $ / shares shares	Mar. 30, 2020 $ / shares shares
Stockholders Equity Note [Line Items]
Common stock par or stated value per share \| $ / shares							$ 0.00001	$ 0.00001
Stock repurchased and retired during period shares								100,442,575
Stock issued during period shares new issues							14,850,560	33,349,070		7,612,147
Proceeds from initial public offering, net of issuance costs \| ¥											¥ 0	¥ 11,410,386	¥ 0
Stock Issued During Period Shares							14,850,560	33,349,070		7,612,147
IPO [Member]
Stockholders Equity Note [Line Items]
Sale of stock number of shares issued in transaction					229,386,666	229,386,666
Proceeds from initial public offering, net of issuance costs					¥ 11,409,248	$ 1,655,678			¥ 11,409,248
Treasury Stock [Member]
Stockholders Equity Note [Line Items]
Stock issued during period shares new issues												(60,687,680)
Stock Issued During Period Shares												(60,687,680)
Issuance of ordinary shares for the vested Restricted Share Units ("RSUs")												17,643,400
Common Class A [Member]
Stockholders Equity Note [Line Items]
Common stock shares authorized	9,250,000,000					8,850,000,000								8,850,000,000	3,492,799,650
Common stock par or stated value per share \| $ / shares	$ 0.00001					$ 0.00001								$ 0.00001
Common stock shares issued	1,302,911,192													971,341,066
Common stock shares outstanding	1,291,039,502													928,296,786
Stock issued during period shares new issues	35,868,362
Stock Issued During Period Shares	35,868,362
Issuance of ordinary shares for the vested Restricted Share Units ("RSUs")	32,764,738
Common Class A [Member] \| Share Issue Period One [Member]
Stockholders Equity Note [Line Items]
Common stock shares outstanding	26,471,648
Common Class A [Member] \| Follow On Offering [Member]
Stockholders Equity Note [Line Items]
Stock issued during period shares new issues			110,400,000	110,400,000
Proceeds from issuance of Ordinary Shares			¥ 15,980,227	$ 2,444,930
Stock Issued During Period Shares			110,400,000	110,400,000
Common Class A [Member] \| Global Offering [Member]
Stockholders Equity Note [Line Items]
Stock issued during period shares new issues		97,083,300
Stock Issued During Period Shares		97,083,300
Share Price \| $ / shares		$ 165
Stock Conversion Basis		one-on-one
Common Class A [Member] \| Treasury Stock [Member]
Stockholders Equity Note [Line Items]
Treasury shares outstanding	9,396,714
Common Class B [Member]
Stockholders Equity Note [Line Items]
Common stock shares authorized	750,000,000					750,000,000								750,000,000	750,000,000
Common stock par or stated value per share \| $ / shares	$ 0.00001					$ 0.00001								$ 0.00001	$ 0.00001
Common stock shares issued	409,846,136													429,846,136
Common stock shares outstanding	409,846,136													429,846,136
Common Class C [Member]
Stockholders Equity Note [Line Items]
Common stock shares authorized	0					400,000,000								400,000,000
Common stock par or stated value per share \| $ / shares	$ 0.00001					$ 0.00001								$ 0.00001
Common stock shares issued	0													178,618,464
Common stock shares outstanding	0													178,618,464

Fair Value of Financial Instruments

12 Months Ended

Dec. 31, 2021

Fair Value Disclosures [Abstract]

Fair Value of Financial Instruments

5.	Fair Value of Financial Instruments

ASC 820, Fair Value Measurements, states that fair value is an exit price, representing the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. As such, fair value is a market-based measurement that should be determined based on assumptions that market participants would use in pricing an asset or a liability. The three-tiered fair value hierarchy, which prioritizes which inputs should be used in measuring fair value, is comprised of: (Level I) observable inputs such as quoted prices in active markets; (Level II) inputs other than quoted prices in active markets that are observable either directly or indirectly and (Level III) unobservable inputs for which there is little or no market data. The fair value hierarchy requires the use of observable market data when available in determining fair value.

Fair value measurement on a recurring basis

Assets and liabilities that were measured at fair value on a recurring basis were as follows:


	As of December 31, 2020								As of December 31, 2021
	Fair Value		Level I		Level II		Level III		Fair Value		Level I		Level II		Level III
Assets
Short-term investments (Note 2( j ))		2,820,711		—		2,820,711		—		2,833,763		—		2,833,763		—
Derivative assets – forward exchange contract (Note 2(e))		105,183		—		105,183		—		—		—		—		—
Debt investments(i) (Note 13 )		—		—		—		—		1,338,822		—		—		1,338,822

		2,925,894		—		2,925,894		—		4,172,585				2,833,763		1,338,822

Liabilities
Derivative liabilities - forward exchange contract (Note 2(e))		—		—		—		—		48,605		—		48,605		—

(i)

Debt investments do not have readily determinable market value, which were categorized as Level III in the fair value hierarchy. The Group uses a combination of valuation methodologies, including equity allocation model, market and income approaches based on the Group’s best estimate, which is determined by using information including but not limited to the pricing of recent rounds of financing of the investees, future cash flow forecasts, liquidity factors and multiples of comparable companies. Since the debt investments were acquired at the end of 2021, no significant change in its fair value as of December 31, 2021.

Fair value measurement on a

non-recurring

basis

The Group measures investments without readily determinable fair value on a

non-recurring

basis when impairment charges and fair value change due to observable price change are recognized. These

non-recurring

fair value measurements use significant unobservable inputs (Level III). An observable price change is usually resulting from new rounds of financing of the investees. The Group determines whether the securities offered in new rounds of financing are similar to the equity securities held by the Group by comparing the rights and obligations of the securities. When the securities offered in new rounds of financing are determined to be similar to the securities held by the Group, it adjusts the observable price of the similar security to determine the amount that should be recorded as an adjustment in the carrying value of the security to reflect the current fair value of the security held by the Group by using the backsolve method based on the equity allocation model with adoption of some key parameters such as risk-free rate, equity volatility, probability of each scenario and dividend yield.

Deferred Revenue Disclosure [Abstract]

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Fair Value of Financial Instruments - Summary of Fair Value of the Financial Instruments that are Measured at Fair Value on a Recurring Basis (Detail) - CNY (¥) ¥ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Assets
Short-term investments (Note 2(j))	¥ 2,833,763	¥ 2,820,711
Derivative assets – a forward exchange contract (Note 2(e))	0	105,183
Debt investments(i) (Note 14)	1,338,822	0
Long-term Debt, Fair Value	4,172,585	2,925,894
Liabilities
Derivative liabilities - a forward exchange contract (Note 2(e))	48,605	0
Level I [Member]
Assets
Short-term investments (Note 2(j))	0	0
Derivative assets – a forward exchange contract (Note 2(e))	0	0
Debt investments(i) (Note 14)	0	0
Long-term Debt, Fair Value		0
Liabilities
Derivative liabilities - a forward exchange contract (Note 2(e))	0	0
Level II [Member]
Assets
Short-term investments (Note 2(j))	2,833,763	2,820,711
Derivative assets – a forward exchange contract (Note 2(e))	0	105,183
Debt investments(i) (Note 14)	0	0
Long-term Debt, Fair Value	2,833,763	2,925,894
Liabilities
Derivative liabilities - a forward exchange contract (Note 2(e))	48,605	0
Level III [Member]
Assets
Short-term investments (Note 2(j))	0	0
Derivative assets – a forward exchange contract (Note 2(e))	0	0
Debt investments(i) (Note 14)	1,338,822	0
Long-term Debt, Fair Value	1,338,822	0
Liabilities
Derivative liabilities - a forward exchange contract (Note 2(e))	¥ 0	¥ 0

Organization and Nature of Operations - Additional Information (Detail) ¥ in Thousands, $ in Thousands, $ in Thousands						1 Months Ended			12 Months Ended
	Jul. 31, 2021 HKD ($)	Aug. 27, 2020 CNY (¥)	Aug. 27, 2020 USD ($)	Aug. 06, 2020 shares	Jun. 28, 2020 shares	Dec. 31, 2020 CNY (¥)	Aug. 31, 2020 CNY (¥)	Sep. 30, 2019 shares	Dec. 31, 2021 CNY (¥)	Dec. 31, 2020 CNY (¥)	Dec. 31, 2019 CNY (¥)	Sep. 10, 2021	Sep. 06, 2021	Aug. 12, 2021	Jun. 23, 2021	Feb. 13, 2020	Dec. 31, 2018 CNY (¥)
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Common stock shares issued during the period shares \| shares				14,850,560	33,349,070			7,612,147
Class of warrants or rights warrants issued during the period \| shares								17,897,478
Equity method investment ownership percentage																50.00%
Net loss \| ¥									¥ (4,863,096)	¥ (2,731,985)	¥ (3,691,673)
Accumulated deficit \| ¥						¥ 11,322,423			16,191,566	11,322,423
Cash from operations \| ¥									(1,094,591)	(139,766)	(3,562,765)
Cash, cash equivalents, and short-term investments \| ¥						29,209,388			11,024,906	29,209,388
Proceeds from initial public offering, net of issuance costs \| ¥									0	11,410,386	0
Proceeds from FO, net of issurance cost \| ¥									0	¥ 15,988,903	¥ 0
Xintu Technology [Member]
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Equity interest acquired, percentage															100.00%
Kuntu Technology [Member]
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Equity interest acquired, percentage														100.00%
Xiaopeng Technology [Member]
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Equity interest acquired, percentage													50.00%
Xiaopeng Chuxing [Member]
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Equity interest acquired, percentage												50.00%
Global Offering on HKEX [Member]
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Proceeds From Global Public Offering After Deducting Underwriting Discounts And Commissions \| $	$ 15,823,315
IPO [Member]
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Proceeds from initial public offering, net of issuance costs		¥ 11,409,248	$ 1,655,678				¥ 11,409,248
Public Offering [Member]
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Proceeds from FO, net of issurance cost \| ¥						¥ 15,980,227
Unsecured Debt [Member]
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Cash, cash equivalents, and short-term investments \| ¥									40,316,734								¥ 9,917
Proceeds from short term unsecured borrowings \| ¥									¥ 0
Chengxing [Member]
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Equity method investment ownership percentage						100.00%				100.00%
Series A Redeemable Convertible Preferred Shares [Member]
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Temporary equity shares issued during the period shares \| shares								2,021,635
Series A One Redeemable Convertible Preferred Shares [Member]
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Temporary equity shares issued during the period shares \| shares								1,859,082
Series A Two Redeemable Convertible Preferred Shares [Member]
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Temporary equity shares issued during the period shares \| shares								23,343
Series B Redeemable Convertible Preferred Shares [Member]
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Temporary equity shares issued during the period shares \| shares								3,198,839
Series B One Redeemable Convertible Preferred Shares [Member]
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Temporary equity shares issued during the period shares \| shares								4,361,678
Series B Two Redeemable Convertible Preferred Shares [Member]
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Temporary equity shares issued during the period shares \| shares								1,045,497
Series C Redeemable Convertible Preferred Shares [Member]
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Temporary equity shares issued during the period shares \| shares								3,183,626
Ordinary Shares [Member]
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Equity interest issued percentage									43.44%
Redeemble Convertible Preferred Stock [Member]
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Equity interest issued percentage									38.09%
Equity Related Warrants [Member]
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Equity interest issued percentage									18.47%

Deferred Revenue (Tables)

12 Months Ended

Dec. 31, 2021

Deferred Revenue, by Arrangement, Disclosure

The following table shows a reconciliation in the current reporting period related to carried-forward deferred revenue.


	For the Year Ended December 31,
	2019			2020			2021
Deferred revenue - beginning of year		2,366			85,498			308,384
Additions		1,865,564			5,297,728			19,339,153
Recognition		(1,782,432	)		(5,074,842	)		(18,750,249	)

Deferred revenue - end of year		85,498			308,384			897,288

Organization and Nature of Operations (Tables)

12 Months Ended

Dec. 31, 2021

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Summary of Company's Principal Subsidiaries and VIEs

As of December 31, 2021, the Company’s principal subsidiaries and VIEs are as follows:

Principal subsidiaries

Place of

incorporation

Date of
incorporation or
acquisition

Equity
interest
held

Principal activities

Chengxing

(1)

PRC

January 09,
2015

100

Investment holding

Guangzhou Xiaopeng Motors Technology Co., Ltd.(“Xiaopeng Technology”)

PRC

May 12,

2016

100

Design and technology
development

Guangzhou Xiaopeng Automobile Manufacturing Co.,
Ltd.

PRC

April 07,

2017

100

Manufacturing of vehicles

Zhaoqing Xiaopeng New Energy Investment Co., Ltd.(“Zhaoqing Xiaopeng New Energy”)

(2)

PRC

February 13,

2020

Manufacturing of vehicles

Zhaoqing Xiaopeng Automobile Co., Ltd.(“Zhaoqing
XPeng”)

PRC

May 18,

2017

100

Manufacturing of vehicles

Xiaopeng Automobile Sales Co., Ltd.

PRC

January 08,

2018

100

Vehicle wholesale and retail

Beijing Xiaopeng Automobile Co., Ltd.

(“Beijing Xiaopeng”)

PRC

April 28,

2018

100

Vehicle wholesale and retail,
design and technology
development

Shenzhen Xiaopeng Automobile Sales Service Co., Ltd.

PRC

August 06,

2018

100

Vehicle wholesale and retail

Shanghai Xiaopeng Automobile Sales Service Co., Ltd.

PRC

October 10,

2018

100

Vehicle wholesale and retail

Guangzhou Xiaopeng Automatic Driving Technology Co., Ltd

PRC

November 18,

2019

100

Technology development

Shanghai Xiaopeng Motors Technology Co., Ltd.

PRC

February 12,

2018

100

Technology development
and vehicle retail

Guangzhou Xiaopeng Smart Charging Technology Co. Ltd.

PRC

June 22,

2020

100

Smart charging technology
development

XSense. AI, Inc.

United States

November 27,

2018

100

Technology development

XMotors. AI, Inc.

United States

January 05,
2018

100

Technology development

XPeng (Hong Kong) Limited

Hong Kong

February 12,

2019

100

Investment holding

(1)

(2)

(3)

The English names of the subsidiaries and VIEs represent the best effort by the management of the Company in translating its Chinese names as they do not have official English name.

Place of

incorporation

Date of
incorporation
or acquisition

Principal activities

VIEs

Guangzhou Zhipeng IoV Technology Co., Ltd.(“Zhipeng IoV”) (Note 1(c)(i))

PRC

May 23,

2018

Business of development and the operation of an Internet of Vehicles network

Guangzhou Yidian Zhihui Chuxing Technology Co., Ltd.(“Yidian Chuxing”) (Note 1(c)(ii))

PRC

May 24,

2018

Business of provision of online-hailing services through online platform

Guangzhou Xintu Technology Co., Ltd. (“Xintu Technology”) (Note 1(c)(i))

PRC

April 27,

2021

Surveying and mapping

VIEs’ subsidiary

Jiangsu Zhipeng Kongjian Information Technology Co., Ltd. (“Zhipeng Kongjian”, formerly known as Jiangsu Zhitu Technology Co., Ltd.) (Note 1(c)(i))

PRC

June 23,

2021

Surveying and mapping

Other Non-Current Liabilities

12 Months Ended

Dec. 31, 2021

Other Liabilities, Noncurrent [Abstract]

Other Non-Current Liabilities

Other

Non-Current

Liabilities

Other

non-current

liabilities consisted of the following:


	As of December 31,
	2020		2021
Non-controlling interests (i)		—		1,708,062
Government grants (ii)		217,682		174,005
Warranty pro visions (iii)		79,757		266,072

Total		297,439		2,148,139

(i)

The

non-controlling

interests consisted of the following three equity financing arrangements.

Financing in an amount of RMB160 million from Guangzhou GET Investment Holdings Co., Ltd. (“Guangzhou GET Investment”)

In December 2020, Chengxing and Guangzhou Xiaopeng Automotive Investment Co., Ltd. (“Guangzhou Xiaopeng Investment”), subsidiaries of the Group, entered into a partnership agreement with Guangzhou GET Investment to set up a limited liability partnership entity (the “Kunpeng Chuangye LLP”) whose operating period is designed for 9 years since the date of the registration of its business license. Chengxing, Guangzhou Xiaopeng Investment and Guangzhou GET Investment subscribed for RMB200,000, RMB10 and RMB160,000 paid in capital in Kunpeng Chuangye LLP

in return for

55.5540%, 0.0028% and 44.4432% of the equity interest

, respectively. The consideration of RMB160 million was paid by Guangzhou GET Investment to Kunpeng Chuangye LLP in January 2021. Pursuant to the investment agreement, Guangzhou GET Investment does not have substantive participating rights

Kunpeng Chuangye LLP nor

it is not

able to transfer their interest in Kunpeng Chuangye LLP to other third party. During the

9-year

operating period of Kunpeng Chuangye LLP, Guangzhou GET Investment is only entitled to interest calculated at an interest rate of 4% per annum based on its investment amount RMB160,000

Kunpeng Chuangye LLP. Upon liquidation, if any, at any time within 9 years or at

the

due date of

the

9-year

operating period, Guangzhou GET Investment will be entitled to and only entitled to its investment amount amounting to RMB160,000. If Kunpeng Chuangye LLP failed to pay the investment amount RMB160,000 or the interest calculated at an interest rate of 4% per annum to Guangzhou GET Investment, Chengxing, also guaranteed by Xiaopeng Technology, will be liable for the unpaid

amounts. Based on these arrangements

, the Group consolidates Kunpeng Chuangye LLP via its subsidiaries Chengxing and Guangzhou Xiaopeng Investment. The investment held by Guangzhou GET Investment is accounted for as a liability with interest expenses amortized through the period given the risks and rewards of owning 44.4432% of equity interest

in Kunpeng Chuangye LLP have been retained by the Group and the substance of the transaction is that Guangzhou GET Investment is providing financing to the Group via Kunpeng Chuangye LLP.

The interest payable for the investment by Guangzhou GET Investment

was

calculated at an interest rate of 4% per annum

and it

amounted to RMB6,233 as of December 31, 2021.

Financing in an amount of RMB500 million from Guangdong Yuecai Industry Investment Fund Partnership (Limited Partnership) (“Guangdong Utrust”)

Pursuant to the share purchase agreement, dated March 12, 2021, signed among Chengxing, Chengxing’s shareholders (i.e. Guangdong Xiaopeng Motors Technology Co., Ltd. and Guangdong Xiaopeng Automobile Industry Holdings Co., Ltd., both of which are wholly owned subsidiaries of the Company) and Guangdong Utrust, Guangdong Utrust subscribed for common stock newly issued by Chengxing at a consideration of RMB500 million. Immediately after the share subscription, Guangdong Utrust

beg

an to

hold 0.3067% of equity interest in Chengxing. The consideration of RMB500 million was paid by Guangdong Utrust on March 16, 2021 (“Initial Capital Injection Date of Guangdong Utrust”). Pursuant to the terms of the

investment

agreement, conditional upon any entity affiliated with Chengxing being granted a

public offering

approval by any stock exchange (“Relevant Listing Approval”) within 3 years after the Initial Capital Injection Date of Guangdong Utrust, Guangdong Utrust is entitled to request Guangdong Xiaopeng Motors Technology Co., Ltd. to purchase the shares of Chengxing held by it for cash

such that it could choose to use any part of the relevant funds, subject to the consent of Guangdong Xiaopeng Motors Technology Co., Ltd., to participate in the international placing tranche of such public offering. Under the share purchase agreement, no guaranteed allocation of such public offering shares will be granted to Guangdong Utrust. The amount to be paid by Guangdong Xiaopeng Motors Technology Co., Ltd. for such purchase is to be calculated with reference to the consideration paid by Guangdong Utrust, i.e. RMB500 million and an interest at a rate of 6% or 3% per annum which may apply to the entire RMB500 million

or a portion

thereof,

pursuant to the terms of the share purchase agreement. Upon the third anniversary of the Initial Capital Injection Date of Guangdong Utrust, if Guangdong Utrust, Guangdong Xiaopeng Motors Technology Co., Ltd. and Chengxing fail to reach an agreement on the terms of such

ublic offering

arrangement or no relevant entity has obtained the Relevant Listing Approval, Guangdong Xiaopeng Motors Technology Co., Ltd. is entitled to request Guangdong Utrust to sell

or Guangdong Utrust is entitled to request Guangdong Xiaopeng Motors Technology Co., Ltd. to purchase

the common stock in Chengxing held by Guangdong Utrust at a price of RMB500 million plus interest calculated at an interest rate of 3% per annum. In addition, pursuant to the terms of the arrangement, Guangdong Utrust does not have substantive participating rights

Chengxing. The investment by Guangdong Utrust is accounted for as a liability with interest expenses amortized through the period as the risks and rewards of owning the 0.3067% of equity interest in Chengxing have been retained by the Group and the substance of the transaction is that Guangdong Utrust is providing financing to Chengxing.

On June 11, 2021, Guangdong Utrust notified Chengxing that it irrevocably undertakes not to exercise the rights under the share purchase agreement to request Guangdong Xiaopeng Motors Technology Co., Ltd. to purchase the shares of Chengxing held by it in connection with the proposed listing of the Company on the Stock Exchange.

The interest payable for the investment by Guangdong Utrust

was

calculated at an interest rate of 3% per annum

and it

amounted to RMB11,856 as of December 31, 2021.

Financing in an amount of RMB1,000 million from Guangzhou GET Investment

Pursuant to the share purchase agreement, dated March 30, 2021, signed among Chengxing, Chengxing’s shareholders and Guangzhou GET Investment, Guangzhou GET Investment subscribed for common stock newly issued by Chengxing at a consideration of RMB1,000 million. Immediately after the share subscription, Guangzhou GET Investment

began to

hold 1.0640% of equity interest in Chengxing. The consideration of RMB1,000 million was paid by Guangzhou GET Investment on March 31, 2021 (“Initial Capital Injection Date of Guangzhou GET Investment”). Pursuant to the terms of the agreement, conditional upon the disclosure of any plan of any potential onshore listing by any entity affiliated with Chengxing on any stock exchange in the PRC within 5 years after the Initial Capital Injection Date of Guangzhou GET Investment, Guangzhou GET Investment is entitled to request Guangdong Xiaopeng Motors Technology Co., Ltd. to purchase the shares of Chengxing held by it for cash

such that it could use the relevant funds to participate in such potential onshore public offering. Under the share purchase agreement, no guaranteed allocation of such public offering shares will be granted to Guangzhou GET Investment. The amount to be paid by Guangdong Xiaopeng Motors Technology Co., Ltd. for such purchase is to be calculated with reference to the consideration paid by Guangzhou GET Investment, i.e. RMB1,000 million and an interest at a rate of 4% or 6% per annum pursuant to the terms of the share purchase agreement. Upon the fifth anniversary of the Initial Capital Injection Date of Guangzhou GET Investment, if Guangzhou GET Investment, Guangdong Xiaopeng Motors Technology Co., Ltd. and Chengxing fail to reach an agreement on the terms of such potential onshore listing in the PRC

or such relevant entity cannot successfully become listed in the PRC, Guangdong Xiaopeng Motors Technology Co., Ltd. is entitled to request Guangzhou GET Investment to sell

or Guangzhou GET Investment is entitled to request Guangdong Xiaopeng Motors Technology Co., Ltd. to purchase

the common stock in Chengxing held by Guangzhou GET Investment at a price of RMB1,000 million plus interest calculated at the rate of 4% per annum. In addition, pursuant to the terms of the arrangement, Guangzhou GET Investment does not have substantive participating rights

Chengxing. The investment by Guangzhou GET Investment is accounted for as a liability with interest expenses amortized through the period as the risks and rewards of owning the 1.0640% of equity interest in Chengxing have been retained by the Group and the substance of the transaction is that Guangzhou GET Investment is providing financing to Chengxing.

The interest payable for the investment by Guangzhou GET Investment

was

calculated at an interest rate of 4% per annum

and it

amounted to RMB29,973 as of December 31, 2021.

(ii)

Government grants primarily represent government subsidies relating to interest on borrowings which are not tied to capital projects.

(iii)

Movement of accrued warranty is as following:


	For the Year Ended December 31,
	2019			2020			2021
Accrued warranty - beginning of year		73			34,597			111,351
Warranty costs incurred		(575	)		(925	)		(32,352	)
Provision for warranty		35,099			77,679			292,141

Accrued warranty - end of year		34,597			111,351			371,140
Less: Current portion of warranty		(8,380	)		(31,594	)		(105,068	)

Non-current portion of warranty		26,217			79,757			266,072

Related Parties - Summary of Related Parties and Nature of Relationship (Detail)	12 Months Ended
	Dec. 31, 2021
Xiaopeng He [Member]
Related Party Transaction [Line Items]
Relationship with the company	Principal Shareholder of the Company, Chairman of the Board and Chief Executive Officer
Guangzhou Huitian Aerospace Technology Co., Ltd. (Guangzhou Huitian) [Member]
Related Party Transaction [Line Items]
Relationship with the company	A Company Significantly Influenced by the Principal Shareholder
Guangdong Huitian Aerospace Technology Co., Ltd. (Guangdong Huitian) [Member]
Related Party Transaction [Line Items]
Relationship with the company	A Company Significantly Influenced by the Principal Shareholder
Guangzhou Zhongpeng Investment and Development Co., Ltd. [Member]
Related Party Transaction [Line Items]
Relationship with the company	A Company Controlled by the Principal Shareholder
Shenzhen Pengxing Smart Co Ltd [Member]
Related Party Transaction [Line Items]
Relationship with the company	A Company Controlled by the Principal Shareholder
Shenzhen Pengxing Smart Research Co Ltd [Member]
Related Party Transaction [Line Items]
Relationship with the company	A Company Controlled by the Principal Shareholder
Dogotix [Member]
Related Party Transaction [Line Items]
Relationship with the company	A Company Controlled by the Principal Shareholder

Taxation - Summary of Movement of Valuation Allowance (Detail) - CNY (¥) ¥ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Valuation Allowance [Line Items]
Balance at beginning of the year	¥ 2,214,951	¥ 1,340,944	¥ 658,091
Balance at end of the year	3,564,719	2,214,951	1,340,944
Additions [Member]
Valuation Allowance [Line Items]
Valuation allowance	1,511,434	889,877	901,491
Loss utilized [Member]
Valuation Allowance [Line Items]
Valuation allowance	(128,212)	(1,950)	(5,307)
Effect of change in tax rate [Member]
Valuation Allowance [Line Items]
Valuation allowance	¥ (33,454)	¥ (13,920)	¥ (213,331)

Company Financial Statements (Parent Company Only) - Consolidated Statement of Cash Flows (Detail) - CNY (¥) ¥ in Thousands		12 Months Ended
	Feb. 13, 2020	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Cash flows from operating activities		¥ (1,094,591)	¥ (139,766)	¥ (3,562,765)
Cash flows from investing activities
Investment in equity investees	¥ 0	(50,000)	0	0
Net cash provided by (used in) investing activities		(33,075,878)	(4,406,161)	740,296
Proceeds From Sale And Maturity Of Time Deposits		233,050	0	0
Cash flows from financing activities
Proceeds from IPO, net of issuance costs		0	11,410,386	0
Proceeds from FO, net of issurance cost		0	15,988,903	0
Net cash provided by financing activities		14,627,093	34,329,793	3,593,562
Net increase in cash, cash equivalents and restricted cash		(19,906,652)	29,133,790	776,218
Cash, cash equivalents and restricted cash at beginning of the year		31,541,533	2,407,743	1,631,525
Cash, cash equivalents and restricted cash at end of the year		11,634,881	31,541,533	2,407,743
Proceeds From Global Offering Net Of Issuance Cost		(13,146,811)	0	0
Payments of listing expenses		(36,924)	0	0
Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Including Disposal Group and Discontinued Operations		(363,276)	(650,076)	5,125
Parent [Member]
Cash flows from operating activities		232,625	23,636	1,140
Cash flows from investing activities
Placement of term deposits		(14,607,257)	(979,897)
Investment in equity investees		(19,015,285)	(7,825,007)	(1,658,783)
Net cash provided by (used in) investing activities		(33,389,492)	(8,804,904)	(1,658,783)
Proceeds From Sale And Maturity Of Time Deposits		233,050
Cash flows from financing activities
Proceeds from issuance of Preferred Shares		0	6,561,323	1,926,812
Proceeds from IPO, net of issuance costs		0	11,410,386
Proceeds from FO, net of issurance cost		0	15,988,903
Net cash provided by financing activities		13,109,887	33,960,612	1,926,812
Net increase in cash, cash equivalents and restricted cash		(20,363,815)	24,605,740	269,169
Cash, cash equivalents and restricted cash at beginning of the year		24,874,909	269,169	0
Cash, cash equivalents and restricted cash at end of the year		4,511,094	24,874,909	269,169
Proceeds From Global Offering Net Of Issuance Cost		13,146,811
Payments of listing expenses		(36,924)
Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Including Disposal Group and Discontinued Operations		(316,835)	(573,604)
Parent [Member] \| As Previously Reported [Member]
Cash flows from operating activities			23,636
Cash flows from investing activities
Placement of term deposits			(979,897)
Investment in equity investees			(8,512,932)
Net cash provided by (used in) investing activities			(9,492,829)
Cash flows from financing activities
Proceeds from issuance of Preferred Shares			6,561,323
Proceeds from IPO, net of issuance costs			11,410,386
Proceeds from FO, net of issurance cost			15,988,903
Net cash provided by financing activities			33,960,612
Net increase in cash, cash equivalents and restricted cash			24,491,419
Cash, cash equivalents and restricted cash at beginning of the year		24,760,588	269,169
Cash, cash equivalents and restricted cash at end of the year			24,760,588	¥ 269,169
Parent [Member] \| Revisions [Member]
Cash flows from investing activities
Investment in equity investees			687,925
Net cash provided by (used in) investing activities			687,925
Cash flows from financing activities
Net increase in cash, cash equivalents and restricted cash			114,321
Cash, cash equivalents and restricted cash at beginning of the year		¥ 114,321
Cash, cash equivalents and restricted cash at end of the year			114,321
Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Including Disposal Group and Discontinued Operations			¥ (573,604)

Other Non-current Assets

12 Months Ended

Dec. 31, 2021

Other Assets, Noncurrent [Abstract]

Other Non-current Assets

Other

Non-current

Assets

Other

non-current

assets consisted of the following:


	As of December 31,
	2020		2021
Prepayment for purchase of land use rights(i)		130,260		1,507,170
Long-term deposits(ii)		60,655		128,791
Prepayments for subscription of equity securities(iii)		—		50,000
Prepayments for purchase of property and equipment		37,212		20,888
Others		506		23,637

Total		228,633		1,730,486

(i)

(ii)

Long-term deposits primarily consist of deposits for offices and retail and service centers whose lease expiration dates are not within one year.

(iii)

In December 2021, the Group prepaid RMB50,000

to subscribe certain common shares of a company engaged in research, development, production and sales of semiconductors, which was subsequently converted into common shares in January 2022.

Prepayments and Other Current Assets

12 Months Ended

Dec. 31, 2021

Prepaid Expense and Other Assets, Current [Abstract]

Prepayments and Other Current Assets

7 .	Prepayments and Other Current Assets

Prepayments and other current assets consisted of the following:


	As of December 31,
	2020		2021
Prepayments		909,327		1,300,805
Deductible input value-added tax		521,630		484,257
Deposits		30,006		83,939
Receivables from third party online payment service providers		16,988		78,620
Derivative assets (Note 5)		105,183		—
Others		125,335		301,062

Total		1,708,469		2,248,683

Prepayments primarily consist of prepayments for raw materials, marketing and consulting services provided by suppliers.

Deposits primarily consist of deposits for short-term leases and the deposits to suppliers for guarantee of procurement.

Inventory

12 Months Ended

Dec. 31, 2021

Inventory Disclosure [Abstract]

Inventory

Inventory consisted of the following:


	As of December 31,
	2020		2021
Finished goods		943,945		1,042,719
Raw materials		387,524		1,605,197
Work-in-process		11,556		14,005

Total		1,343,025		2,661,921

Raw materials primarily consist of materials for volume production.

Work-in-process

primarily consist of P7, G3i and P5 in production which will be transferred into production cost

when incurred.

Finished goods primarily consist of vehicles ready for transit at production factory, vehicles in transit to fulfill customer orders, new vehicles available for immediate sale

at its delivery and service centers, vehicle parts and charging piles.

For the years ended December 31, 2019, 2020 and 2021, write-downs of inventories to net realizable value amounted to RMB109,505, RMB92,612 and RMB162,433, respectively, which were recognized in cost of sales.

Other Non-current Assets - Summary of Other Non-current Assets (Detail) - CNY (¥) ¥ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Other Assets, Noncurrent [Abstract]
Prepayment for purchase of land use rights	¥ 1,507,170	¥ 130,260
Long-term deposits	128,791	60,655
Prepayments for subscription of equity securities	50,000	0
Prepayments for purchase of property and equipment	20,888	37,212
Others	23,637	506
Total	¥ 1,730,486	¥ 228,633

Long-Term Investments - Schedule of Long-term investments (Detail) ¥ in Thousands	12 Months Ended
	Dec. 31, 2021 CNY (¥)
Schedule Of LongTermInvestments [Line Items]
Balance at December 31, 2020	¥ 1,000
Additons	959,855
Fair value change through earnings	591,506
Foreign currency translation	(3,185)
Balance at December 31, 2021	1,549,176
Debt Securities [Member]
Schedule Of LongTermInvestments [Line Items]
Balance at December 31, 2020	0
Additons	749,955
Fair value change through earnings	591,506
Foreign currency translation	(2,639)
Balance at December 31, 2021	1,338,822
Equity Securities [Member]
Schedule Of LongTermInvestments [Line Items]
Balance at December 31, 2020	1,000
Additons	209,900
Fair value change through earnings	0
Foreign currency translation	(546)
Balance at December 31, 2021	¥ 210,354

CONSOLIDATED STATEMENTS OF CASH FLOWS - CNY (¥) ¥ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Cash flows from operating activities
Net loss	¥ (4,863,096)	¥ (2,731,985)	¥ (3,691,673)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation of property, plant and equipment	573,247	302,974	125,453
Amortization of intangible assets	25,875	20,169	7,681
Amortization of right-of-use assets	229,031	109,473	88,208
Amortization of land use rights	9,642	5,323	5,323
Loss of disposal of property, plant and equipment	36,508	6,167	1,191
Impairment of property, plant and equipment	34,589	63,251	79,185
Current expected credit loss of accounts and notes receivable	16,175	6,216	3,812
Current expected credit loss of installment payment receivables	49,978	3,454	833
Current expected credit loss of other current assets	3,578	369	0
Inventory write-downs	162,433	92,612	109,505
Foreign exchange gains	(313,580)	(81,181)	(8,363)
Interest income	(351,926)	(65,676)	(66,782)
Share-based compensation	379,948	996,417	517
Fair value gain on derivative assets or derivative liabilities	(79,262)	(1,362,025)	(27,679)
Fair value gain on long-term investments	(591,506)	0	0
Changes in operating assets and liabilities:
Accounts and notes receivable	(1,560,777)	(595,908)	(504,618)
Inventory	(1,940,225)	(981,521)	(394,295)
Amounts due from related parties	(32,103)	21,923	4,351
Prepayments and other current assets	(652,033)	(792,863)	(418,103)
Other non-current assets	(68,136)	(30,808)	(5,616)
Accounts and notes payable	7,250,441	4,157,799	739,053
Deferred revenue	588,904	222,886	83,132
Lease liabilities	(237,846)	(108,134)	(84,626)
Accruals and other liabilities	2,260,378	722,967	520,547
Other non-current liabilities	187,923	266,932	26,155
Installment payment receivables	(2,247,136)	(401,190)	(156,634)
Amounts due to related parties	12,857	11,384	678
Income taxes payable	21,528	1,209	0
Net cash used in operating activities	(1,094,591)	(139,766)	(3,562,765)
Cash flows from investing activities
Maturities (placement) of short-term deposits	(24,899,368)	(979,897)	759,975
Maturities (placement) of short-term investments	62,305	(2,347,191)	1,905,210
Placement of long-term deposits	(3,157,891)	0	0
Purchase of property, plant and equipment	(2,299,698)	(806,067)	(1,831,593)
Receipt of government subsidy related to assets	12,954	243,838	83,201
Maturities of derivative assets or derivative liabilities	233,050	0	0
Purchase of intangible assets	(288,084)	(426,089)	(76,760)
Disposal of property, plant and equipment	24,124	24,505	263
Purchase of land use rights	(223,113)	0	0
Prepayment for acquisition of assets	(23,132)	0	(100,000)
Prepayments for subscription of equity securities	(50,000)	0	0
Prepayment for acquisition of land use rights	(1,507,170)	(130,260)	0
Disposal of equity investment in a company	0	16,000	0
Cash paid for long-term investments	(959,855)	(1,000)	0
Net cash provided by (used in) investing activities	(33,075,878)	(4,406,161)	740,296
Cash flows from financing activities
Proceeds from issuance of convertible redeemable Preferred Shares	0	7,282,554	2,678,612
Proceeds from IPO, net of issuance costs	0	11,410,386	0
Proceeds from FO, net of issuance costs	0	15,988,903	0
Proceeds from Global Offering, net of issuance costs	13,146,811	0	0
Proceeds from borrowings	840,106	1,028,335	1,620,000
Repayment of borrowings	(982,900)	(1,380,385)	(748,060)
Loans from a related party	0	1,063,434	0
Repayment of loans to a related party	0	(1,063,434)	0
Repurchase of Preferred Shares	0	0	(55,000)
Proceeds from non-controlling interests	1,660,000	0	98,010
Payments of listing expenses	(36,924)	0	0
Net cash provided by financing activities	14,627,093	34,329,793	3,593,562
Effects of exchange rate changes on cash, cash equivalents and restricted cash	(363,276)	(650,076)	5,125
Net increase (decrease) in cash, cash equivalents and restricted cash	(19,906,652)	29,133,790	776,218
Cash, cash equivalents and restricted cash at beginning of the year	31,541,533	2,407,743	1,631,525
Cash, cash equivalents and restricted cash at end of the year	11,634,881	31,541,533	2,407,743
Supplemental disclosure of cash flows information
Cash paid for interest, net of amounts capitalized	(126,090)	(76,093)	(26,406)
Acquisition of property, plant and equipment included in liabilities	¥ 843,732	¥ 235,117	¥ 762,151

Commitments and Contingencies - Summary of Purchase Expenditures (Detail) - CNY (¥) ¥ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Commitments and Contingencies Disclosure [Abstract]
Purchase commitments on purchase of raw materials	¥ 5,312,557	¥ 2,315,188

Borrowings

12 Months Ended

Dec. 31, 2021

Debt Disclosure [Abstract]

Borrowings

Borrowings consisted of the following:


	As of December 31,
	2020		2021
Current
Short-term borrowings:
Bank loans		127,900		—

Current portion of long-term borrowings		45,000		—

Total current borrowings		172,900		—


Non-Current
Long-term borrowings:
Bank loans		845,000		1,575,106
Other loans		800,000		100,000

Total non-current borrowings		1,645,000		1,675,106

Total borrowings		1,817,900		1,675,106

As of December 31, 2020, the Group had short-term borrowings from three banks of RMB127,900 in aggregate. The effective interest rate of these borrowings is 4.17% to 4.99% per annum. As of December 31, 2021, the Group had no

any

short-term borrowings.

In 2019, the Group entered into long-term loan agreements with a bank in the PRC of total principals of RMB150,000, subject to a fixed interest rate of 4.99% per annum, and with a maturity date from January 22, 2020 to November 20, 2022. As of December 31, 2020, the principal amount of RMB45,000 was due within 12 months after the reporting period and presented as current liabilities and the principal amount of RMB45,000 was present as

non-current

liabilities. As of December 31, 2021, the principal amount of RMB90,000 was repaid in advance.

In May 2017, Zhaoqing XPeng obtained a facility, specified for

financing the

expenditures of the construction of Zhaoqing manufacturing plant, of up to RMB1,600,000 from Zhaoqing High-tech Zone Construction Investment Development Co., Ltd. (“Zhaoqing High-tech Zone”). In December 2020, RMB800,000 out of the RMB1,600,000 borrowings from Zhaoqing High-tech Zone was repaid and concurrently a borrowing equivalent to RMB800,000 was obtained from a bank in the PRC, with a maturity date from December 18, 2020 to December 17, 2028. As of December 31, 2020 and 2021, the effective interest rate of the RMB800,000 loans from Zhaoqing High-tech Zone and the RMB800,000 bank loans

s 4.90% and 4.98% per annum, respectively. For the remaining RMB800,000 loans from Zhaoqing High-tech Zone, RMB200,000

will

mature on January 31, 2027 and RMB600,000

will mature on January 31, 2028. Moreover, the Group received subsidies from the local government for interest expenses incurred associated with the borrowings. For the years ended December 31, 2019, 2020 and 2021, upon the acceptance of subsidy application by the local government, the Group recognized the subsidies to reduce the interest expenses capitalized in the construction costs of Zhaoqing manufacturing plant or to reduce the related interest expenses as incurred, if any. As of December 31, 2021, the principal amount of

RMB700,000

loans due to Zhaoqing High-tech Zone and

RMB8,000

of the bank loans had been repaid before the original due date.

In July 2021, Guangzhou Xiaopeng New Energy Automobile Co., Ltd. obtained a facility, specified for financing the expenditures of the construction of Guangzhou manufacturing plant, of up to

RMB1,120,000 from a bank in the PRC. As of December 31, 2021, RMB408,446

had been drawn from the bank with an effective interest rate of

5.42%

per annum. For the year ended December 31, 2021, the Group recognized the subsidies to reduce the interest expenses capitalized in the construction costs of Guangzhou manufacturing plant, upon the acceptance of subsidy application by the local government, if any.

In September 2021, Xiaopeng Automobile Central China (Wuhan) Co., Ltd. obtained a facility, specified for financing the expenditures of the construction of Wuhan manufacturing plant, of up to

RMB3,000,000

from a syndicate of banks in the PRC. As of December 31, 2021,

RMB374,660

had been drawn from the banks with an effective interest rate of

4.65%

per annum. For the year ended December 31, 2021, the Group recognized the subsidies to reduce the interest expenses capitalized in the construction costs of Wuhan manufacturing plant, upon the acceptance of subsidy application by the local government, if any.

Certain of the Group’s banking facilities are subject to the fulfillment of certain financial covenants, includng the current ratio and liabilities to assets ratio tests, which are commonly found in lending arrangements with financial institutions. If the Group were to breach the covenants, the drawn down facilities would become payable on demand. The Group regularly monitors its compliance with these covenants. As of December 31, 2020 and 2021, none of the covenants relating to drawn down facilities had been breached.

The carrying value of the borrowings approximates its fair value as of December 31, 2020 and 2021. The interest rates under the loan agreements with the banks were determined based on the prevailing interest rates in the market. The Group classifies the valuation techniques that use these inputs as Level II.

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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-Name Accounting Standards Codification
-Topic 470
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1B
-Subparagraph (h)
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1C
-Subparagraph (c)
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Topic 470
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-Subparagraph (d)
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(c))
-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
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-Subparagraph (g)
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
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-Paragraph 1C
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Topic 470
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-Section 50
-Paragraph 1C
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495334-112611

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Topic 470
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Topic 470
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
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-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611

Other Liabilities, Noncurrent [Abstract]

Other Non-Current Liabilities (Tables)

12 Months Ended

Dec. 31, 2021

Summary of Other non-current liabilities

Other

non-current

liabilities consisted of the following:


	As of December 31,
	2020		2021
Non-controlling interests (i)		—		1,708,062
Government grants (ii)		217,682		174,005
Warranty pro visions (iii)		79,757		266,072

Total		297,439		2,148,139

(i)

The

non-controlling

interests consisted of the following three equity financing arrangements.

Summary of movements of accrued warranty

(iii)

Movement of accrued warranty is as following:


	For the Year Ended December 31,
	2019			2020			2021
Accrued warranty - beginning of year		73			34,597			111,351
Warranty costs incurred		(575	)		(925	)		(32,352	)
Provision for warranty		35,099			77,679			292,141

Accrued warranty - end of year		34,597			111,351			371,140
Less: Current portion of warranty		(8,380	)		(31,594	)		(105,068	)

Non-current portion of warranty		26,217			79,757			266,072

Company Financial Statements (Parent Company Only) (Tables)

12 Months Ended

Dec. 31, 2021

Text Block [Abstract]

Condensed Balance Sheets


	As of December 31,
	2020		2021
	RMB		RMB
ASSETS
Current assets
Cash and cash equivalents		24,760,588		4,453,841
Restricted cash		114,321		57,253
Short-term deposits		979,897		14,457,154
Prepayments and other current assets		118,114		4,980
Total current assets		25,972,920		18,973,228

Non-current assets
Investments in subsidiaries and VIEs		8,471,310		22,269,421
Long-term deposits		—		955,907
Total non-current assets		8,471,310		23,225,328

Total assets		34,444,230		42,198,556

Liabilities
Current liabilities
Accruals and other liabilities		14,421		51,978

Total current liabilities		14,421		51,978

Total liabilities		14,421		51,978

Condensed Balance Sheet


		As of December 31,
	Note	2020			2021
		RMB			RMB
SHAREHOLDERS’ EQUITY
Class A Ordinary shares			63			87
Class B Ordinary shares			26			25
Class C Ordinary shares			12			—
Additional paid-in capital			46,482,512			59,980,534
Statutory reserve			—			6,047
Accumulated deficit			(11,322,423	)		(16,191,566	)
Accumulated other comprehensive loss			(730,381	)		(1,648,549	)

Total shareholders’ equity			34,429,809			42,146,578

Total liabilities and shareholders’ equity			34,444,230			42,198,556

Condensed Statements of Comprehensive Loss


		For the Year Ended December 31,
	Note	2019			2020			2021
		RMB			RMB			RMB
Operating expenses
Selling, general and administrative expenses			(517	)		(13,430	)		(8,966	)

Total operating expenses			(517	)		(13,430	)		(8,966	)

Loss from operations			(517	)		(13,430	)		(8,966	)
Interest income			1,140			43,001			208,463
Interest expense			—			(5,935	)		—
Equity in loss of subsidiaries and VIEs			(3,719,975	)		(4,487,049	)		(5,696,578	)
Other non-operating income, net			—			369,403			554,723
Fair value gain on derivative liabilities			27,679			1,362,025			79,262

Loss before income tax expenses			(3,691,673	)		(2,731,985	)		(4,863,096	)

Income tax expenses			—			—			—

Net loss			(3,691,673	)		(2,731,985	)		(4,863,096	)

Accretion on Preferred Shares to redemption value			(961,050	)		(2,157,744	)		—
Deemed contribution from repurchase of Preferred Shares			9,969			—			—

Net loss attributable to ordinary shareholders of XPeng Inc.			(4,642,754	)		(4,889,729	)		(4,863,096	)

Net loss			(3,691,673	)		(2,731,985	)		(4,863,096	)

Other comprehensive loss
Foreign currency translation adjustment, net of nil tax			(2,968	)		(724,433	)		(918,168	)

Total comprehensive loss attributable to XPeng Inc.			(3,694,641	)		(3,456,418	)		(5,781,264	)

Accretion on Preferred Shares to redemption value			(961,050	)		(2,157,744	)		—
Deemed contribution from repurchase of Preferred Shares			9,969			—			—

Comprehensive loss attributable to ordinary shareholders of XPeng Inc.			(4,645,722	)		(5,614,162	)		(5,781,264	)

Consolidated Statements of Cash Flows

Condensed Statements of Cash Flows


	For the Year Ended December 31,
	2019			2020			2021
	RMB			RMB			RMB
				(As Revised) (Note (i))
Cash flows from operating activities		1,140			23,636			232,625

Cash flows from investing activities
Placement of term deposits		—			(979,897	)		(14,607,257	)
Investment in equity investees		(1,658,783	)		(7,825,007	)		19,015,285	)
Maturities of derivative assets		—			—			233,050

Net cash used in investing activities		(1,658,783	)		(8,804,904	)		(33,389,492	)

Cash flows from financing activities
Proceeds from issuance of Preferred Shares		1,926,812			6,561,323			—
Proceeds from IPO, net of issuance cost		—			11,410,386			—
Proceeds from FO, net of issuance cost		—			15,988,903			—
Proceeds from Global Offering, net of issuance cost		—			—			13,146,811
Payments of listing expenses		—			—			(36,924	)

Net cash provided by financing activities		1,926,812			33,960,612			13,109,887

Effects of exchange rate changes on cash, cash equivalents and restricted cash		—			(573,604	)		(316,835	)
Net increase (decrease) in cash, cash equivalents and restricted cash		269,169			24,605,740			(20,363,815	)
Cash, cash equivalents and restricted cash at beginning of the year		—			269,169			24,874,909

Cash, cash equivalents and restricted cash at end of the year		269,169			24,874,909			4,511,094

Condensed Statement of Cash Flows


	For the Year Ended December 31, 2020
	As Previously Reported			Revisions			As Revised
	RMB			RMB			RMB
Cash flows from operating activities		23,636			—			23,636

Cash flows from investing activities
Placement of term deposits		(979,897	)		—			(979,897	)
Investment in equity investees		(8,512,932	)		687,925			(7,825,007	)

Net cash used in investing activities		(9,492,829	)		687,925			(8,804,904	)

Cash flows from financing activities
Proceeds from issuance of Preferred Shares		6,561,323			—			6,561,323
Proceeds from IPO, net of issuance cost		11,410,386			—			11,410,386
Proceeds from FO, net of issuance cost		15,988,903			—			15,988,903

Net cash provided by financing activities		33,960,612			—			33,960,612

Effects of exchange rate changes on cash, cash equivalents and restricted cash		—			(573,604	)		(573,604	)
Net increase (decrease) in cash, cash equivalents and restricted cash		24,491,419			114,321			24,605,740
Cash, cash equivalents and restricted cash at beginning of the year		269,169			—			269,169

Cash, cash equivalents and restricted cash at end of the year		24,760,588			114,321			24,874,909

Loss Per Share (Tables)

12 Months Ended

Dec. 31, 2021

Earnings Per Share [Abstract]

Summary of Earnings Per Share, Basic and Diluted

Basic loss per share and diluted loss per share have been calculated in accordance with ASC 260 on computation of earnings per share for the years ended December 31, 2019, 2020 and 2021 as follows:


	For the Year Ended December 31,
	2019			2020			2021
Numerator:
Net loss		(3,691,673	)		(2,731,985	)		(4,863,096	)
Accretion on Preferred Shares to redemption value		(961,050	)		(2,157,744	)		—
Deemed contribution from repurchase of Preferred Shares		9,969			—			—

Net loss attributable to ordinary shareholders of XPeng Inc.		(4,642,754	)		(4,889,729	)		(4,863,096	)

Denominator:
Weighted average number of ordinary shares outstanding-basic and diluted		349,450,580			754,270,914			1,642,906,400

Basic and diluted net loss per share attributable to ordinary shareholders of XPeng Inc.		(13.29	)		(6.48	)		(2.96	)

Installment Payment Receivables, Net

12 Months Ended

Dec. 31, 2021

Lessor Disclosure [Abstract]

Installment Payment Receivables, Net

Installment payment receivables relating to the installment payments for vehicles

and

batteries from customers consisted of the following:


	As of December 31,
	2020		2021
Current portion of installment payment receivables, net		156,069		887,202
Non-current portion of installment payment receivables, net		397,467		1,863,492

Total		553,536		2,750,694

The Group recognized interest income resulting from a significant financing component of RMB4,929, RMB17,115 and RMB89,895 for the year

ended December 31, 2019, 2020 and 2021, respectively.

As of December 31, 2020, an allowance for credit losses of RMB4,287 had been provided for the current portion of installment payment receivables of RMB156,068 and long-term portion of installment payment receivables of RMB401,755.

As of December 31, 2021, an allowance for credit losses of RMB51,131 had been provided for the current portion of installment payment receivables of RMB905,435 and long-term portion of installment payment receivables of RMB1,896,390.


	As of December 31,
	2021
Within 1 year		1,029,526
Between 1 and 2 years		920,142
Between 2 and 3 years		598,274
Between 3 and 4 years		382,075
Between 4 and 5 years		184,498
Thereafter		5,530

Total receivables of installment payments		3,120,045

Less: Unrealized finance income		(318,220	)

Installment payment receivables , gross		2,801,825
Less: Allowance for installment payment receivables		(51,131	)

Installment payment receivables , net		2,750,694

Property, Plant and Equipment, Net - Summary of Property, Plant and Equipment, Net (Detail) - CNY (¥) ¥ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	¥ 6,520,808	¥ 3,673,288
Less: Accumulated depreciation	(1,002,246)	(456,319)
Less: Impairment	(34,589)	(63,251)	¥ (79,185)
Property, plant and equipment, net	5,424,776	3,081,502
Construction In Process [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	1,760,259	223,875
Molds and toolings
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	1,178,385	938,611
Less: Impairment	(93,786)	(135,467)
Machinery And Equipment [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	1,123,512	1,047,461
Buildings [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	860,556	726,820
Vehicles [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	717,976	328,555
Leasehold Improvements [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	376,219	216,923
Charging Infrastructure [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	262,678	45,835
Computer And Electronic Equipment [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	147,273	87,304
Others [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	¥ 93,950	¥ 57,904

Convertible Redeemable Preferred Shares (Tables)

12 Months Ended

Dec. 31, 2021

Convertible Redeemable Preferred Shares [Abstract]

Summary of Preferred Shares activities

The Company’s Preferred Shares activities for the years ended December 31, 2019 and 2020, before their conversion into ordinary shares of the Company, are summarized below:


	Redeemable Ordinary Shares				Series A						Series A1						Series A2						Series B						Series B1						Series B2						Series C						Total
	Number of shares		Amount (RMB)		Number of shares			Amount (RMB)			Number of shares			Amount (RMB)			Number of shares			Amount (RMB)			Number of shares			Amount (RMB)			Number of shares			Amount (RMB)			Number of shares			Amount (RMB)			Number of shares			Amount (RMB)			Number of shares			Amount (RMB)
Balances as of December 31, 2018		—		—		78,108,625			532,353			67,802,375			498,581			11,671,400			108,002			160,481,700			2,274,403			133,272,750			2,685,499			38,163,575			880,635			—			—			489,500,425			6,979,473

Issuance of Preferred Shares post extinguishment		—		—		—			—			—			—			—			—			—			—			—			—			—			—			79,590,650			1,801,402			79,590,650			1,801,402
Accretion on Preferred Shares to redemption value post extinguishment		—		—		—			65,206			—			61,073			—			13,255			—			287,695			—			394,944			—			119,880			—			18,997			—			961,050
Repurchase of the Preferred Shares		—		—		—			—			—			—			—			—			—			—			—			—			(2,197,900	)		(48,447	)		—			—			(2,197,900	)		(48,447	)

Balances as of December 31, 2019		—		—		78,108,625			597,559			67,802,375			559,654			11,671,400			121,257			160,481,700			2,562,098			133,272,750			3,080,443			35,965,675			952,068			79,590,650			1,820,399			566,893,175			9,693,478

Issuance of Preferred Shares of Series C		—		—		—			—			—			—			—			—			—			—			—			—			—			—			234,840,210			6,639,361			234,840,210			6,639,361
Accretion on Preferred Shares to Redemption Value post Extinguishment		—		—		—			64,863			—			60,854			—			13,635			—			332,743			—			586,803			—			186,043			—			912,803			—			2,157,744
Conversion of Preferred Shares to Ordinary Shares upon the completion of the IPO		—		—		(78,108,625	)		(662,422	)		(67,802,375	)		(620,508	)		(11,671,400	)		(134,892	)		(160,481,700	)		(2,894,841	)		(133,272,750	)		(3,667,246	)		(35,965,675	)		(1,138,111	)		(314,430,860	)		(9,372,563	)		(801,733,385	)		(18,490,583	)

Balances as of December 31, 2020		—		—		—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—

Commitments and Contingencies (Tables)

12 Months Ended

Dec. 31, 2021

Text Block [Abstract]

Capital expenditures contracted for at the balance sheet dates but not recognized in the consolidated financial statements

Capital expenditures contracted for at the balance sheet dates but not recognized in the consolidated financial statements are as follows:


	As of December 31,
	2020		2021
Property, plant and equipment		259,417		1,241,759
Investments		44,392		20,000

Total		303,809		1,261,759

Summary of Purchase expenditures not recognized in the consolidated financial statements

Purchase expenditures contracted for at the balance sheet dates but not recognized in the consolidated financial statements are as follows:


	As of December 31,
	2020		2021
Purchase commitments on purchase of raw materials		2,315,188		5,312,557

Company Financial Statements (Parent Company Only) - Condensed Statements of Comprehensive Loss (Detail) - CNY (¥)
¥ in Thousands

12 Months Ended

Dec. 31, 2021

Dec. 31, 2020

Dec. 31, 2019

Operating expenses

Other non-operating income, net

^[1]

¥ (5,305,433)

¥ (2,920,649)

¥ (1,164,569)

Total operating expenses

^[1]

9,419,700

4,646,555

3,234,727

Loss from operations

6,579,405

4,293,736

3,780,574

Interest income

743,034

133,036

88,843

Interest expense

(55,336)

(22,451)

(32,017)

383,833

90,364

4,397

Fair value gain on derivative liabilities

79,262

1,362,025

27,679

Net loss

(4,863,096)

(2,731,985)

(3,691,673)

Net loss attributable to ordinary shareholders of XPeng Inc.

2,157,744

961,050

(4,863,096)

(4,889,729)

(4,642,754)

Other comprehensive loss

Foreign currency translation adjustment, net of nil tax

(918,168)

(724,433)

(2,968)

Total comprehensive loss attributable to XPeng Inc.

(5,781,264)

(3,456,418)

(3,694,641)

Comprehensive loss attributable to ordinary shareholders of XPeng Inc.

(5,781,264)

(5,614,162)

(4,645,722)

Parent [Member]

Operating expenses

Equity in loss of subsidiaries and VIEs

(8,966)

(13,430)

(517)

Total operating expenses

(8,966)

(13,430)

(517)

Loss from operations

(8,966)

(13,430)

(517)

Interest income

208,463

43,001

1,140

Interest expense

(5,935)

(5,696,578)

(4,487,049)

(3,719,975)

Other non-operating income, net

554,723

369,403

Fair value gain on derivative liabilities

79,262

1,362,025

27,679

Loss before income tax expenses

(4,863,096)

(2,731,985)

(3,691,673)

Net loss

(4,863,096)

(2,731,985)

(3,691,673)

Deemed contribution from repurchase of Preferred Shares

(2,157,744)

(961,050)

9,969

Net loss attributable to ordinary shareholders of XPeng Inc.

(4,863,096)

(4,889,729)

(4,642,754)

Other comprehensive loss

Foreign currency translation adjustment, net of nil tax

(918,168)

(724,433)

(2,968)

Total comprehensive loss attributable to XPeng Inc.

(5,781,264)

(3,456,418)

(3,694,641)

Comprehensive loss attributable to ordinary shareholders of XPeng Inc.

¥ (5,781,264)

¥ (5,614,162)

¥ (4,645,722)

[1]	Share-based compensation was allocated in operating expenses as follows:

Summary of Significant Accounting Policies -Summary of Finite Lived Intangible Assets Useful Lives (Details)	12 Months Ended
	Dec. 31, 2021
License Of Maintenance And Overhauls [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Estimated useful lives	26 months
Maximum [Member] \| Software [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Estimated useful lives	10 years
Minimum [Member] \| Software [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Estimated useful lives	2 years

Commitments and Contingencies

12 Months Ended

Dec. 31, 2021

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

27.	Commitments and Contingencies

(a)	Capital commitments

Capital expenditures contracted for at the balance sheet dates but not recognized in the consolidated financial statements are as follows:


	As of December 31,
	2020		2021
Property, plant and equipment		259,417		1,241,759
Investments		44,392		20,000

Total		303,809		1,261,759

(b)	Purchase commitments

Purchase expenditures contracted for at the balance sheet dates but not recognized in the consolidated financial statements are as follows:


	As of December 31,
	2020		2021
Purchase commitments on purchase of raw materials		2,315,188		5,312,557

Revenues - Summary of Revenues (Detail) - CNY (¥) ¥ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Disaggregation of Revenue [Line Items]
Revenues	¥ 20,988,131	¥ 5,844,321	¥ 2,321,219
Vehicle Sales [Member]
Disaggregation of Revenue [Line Items]
Revenues	20,041,955	5,546,754	2,171,231
Services And Others [Member]
Disaggregation of Revenue [Line Items]
Revenues	¥ 946,176	¥ 297,567	¥ 149,988

Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss).

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Convertible Redeemable Preferred Shares [Abstract]

Convertible Redeemable Preferred Shares

12 Months Ended

Dec. 31, 2021

Convertible Redeemable Preferred Shares

. Convertible Redeemable Preferred Shares

Series A Preferred Shares

On June 9, 2017, the Group issued 1,102,710 Series A Preferred Shares in exchange for an aggregate cash consideration of RMB168,000, or RMB152 per share. These 1,102,710 Series A Preferred Shares were split into 27,567,750 Series A Preferred Shares at par value of US$0.00001 upon a 1:25 share split

undertaken

in March 2020.

On November 27, 2017, the Group issued 2,021,635 Series A Preferred Shares in exchange for an aggregate cash consideration of RMB308,000, or RMB152 per share. These 2,021,635 Series A Preferred Shares were split into 50,540,875 Series A Preferred Shares at par value of US$0.00001 upon a 1:25 share split

undertaken

in March 2020.

Series A1 Preferred Shares

On January 5, 2018, the Group issued 2,712,095 Series A1 Preferred Shares in exchange for an aggregate cash consideration of RMB460,000, or RMB170 per share. These 2,712,095 Series A1 Preferred Shares were split into 67,802,375 Series A1 Preferred Shares at par value of US$0.00001 upon a 1:25 share split

undertaken

in March 2020.

Series A2 Preferred Shares

On January 5, 2018, the Group issued 466,856 Series A2 Preferred Shares in exchange for an aggregate cash consideration of RMB100,000, or RMB214 per share. These 466,856 Series A2 Preferred Shares were split into 11,671,400 Series A2 Preferred Shares at par value of US$0.00001 upon a 1:25 share split

undertaken

in March 2020.

Series B Preferred Shares

On March 26, 2018, the Group issued 6,419,268 Series B Preferred Shares in exchange for an aggregate cash consideration of RMB2,200,000, or RMB343 per share. These 6,419,268 Series B Preferred Shares were split into 160,481,700 Series B Preferred Shares at par value of US$0.00001 upon a 1:25 share split

undertaken

in March 2020.

Series B1 Preferred Shares

On August 1, 2018, the Company issued 5,330,910 Series B1 Preferred Shares in exchange for an aggregate cash consideration of RMB2,900,000, or RMB544 per share. These 5,330,910 Series B1 Preferred Shares were split into 133,272,750 Series B1 Preferred Shares at par value of US$0.00001 upon a 1:25 share split

undertaken

in March 2020.

Series B2 Preferred Shares

On August 1, 2018, the Company issued 1,526,543 Series B2 Preferred Shares in exchange for an aggregate cash consideration of RMB955,000, or RMB626 per share. These 1,526,543 Series B2 Preferred Shares were split into 38,163,575 Series B2 Preferred Shares at par value of US$0.00001 upon a 1:25 share split

undertaken

in March 2020.

Series C Preferred Shares

On December 2, 2019, the Company issued 3,183,626 Series C Preferred Shares in exchange for an aggregate cash consideration of US$300,000, equivalent to RMB2,107,860, or US$94, equivalent to RMB662 per share. These 3,183,626 Series C Preferred Shares were split into 79,590,650 Series C Preferred Shares at par value of US$0.00001 upon a 1:25 share split

undertaken

in March 2020.

On April 10, 2020, the Company issued 26,137,425 Series C Preferred Shares (after a 1:25 share split) in exchange for an aggregate cash consideration of US$98,519, equivalent to RMB693,123, or US$3.77 equivalent to RMB27 per share.

On May 11, 2020, the Company issued 795,907 Series C Preferred Shares (after a 1:25 share split) in exchange for an aggregate cash consideration of US$3,000, equivalent to RMB21,231, or US$3.77, equivalent to RMB27 per share.

On May 26, 2020, the Company issued 318,363 Series C Preferred Shares (after a 1:25 share split) in exchange for an aggregate cash consideration of US$1,200, equivalent to RMB8,555, or US$3.77, equivalent to RMB27 per share.

On July 22, 2020, July 24, 2020, July 29, 2020 and August 6, 2020, the Company issued 207,588,515 Series C Preferred Shares (after a 1:25 share split) in exchange for an aggregate cash consideration of US$900,000, equivalent to RMB6,271,720, or US$4.34, equivalent to RMB30 per share.

The key terms of the Series A Preferred Shares, Series A1 Preferred Shares, Series A2 Preferred Shares, Series B Preferred Shares, Series B1 Preferred Shares, Series B2 Preferred Shares and Series C Preferred Shares (collectively referred as the “Preferred Shares”) are summarized as follows.

Conversion feature

Each Preferred Share shall automatically be converted into Class A Ordinary Shares at the Conversion Price at the time in effect immediately upon the earlier of (a) the consummation of a Qualified IPO; or (b) the date specified by written consent or agreement of 80% holders of each series.

The initial conversion ratio of Preferred Shares to ordinary shares shall be 1:1, subject to adjustments in the event of (i) reorganizations, mergers, consolidations or sales of Assets, (ii) certain issuances of shares below the Conversion Price, (iii) share dividends, subdivisions and combinations of Class A ordinary shares, (iv) other distributions or (v) reclassification or recapitalization of Class A ordinary shares.

The Company determined that there were no beneficial conversion features identified for any of the Preferred Shares during any of the periods. In making this determination, the Company compared the fair value of the ordinary shares into which the Preferred Shares are convertible with the respective effective conversion price at the issuance date. To the extent a conversion price adjustment occurs, as described above, the Company will

re-evaluate

whether or not a beneficial conversion feature should be recognized.

Redemption feature

Issuance of Series C, Series B1 and B2 and Series B Preferred Shares

Upon issuance of Series C, Series B1 and B2 and Series B Preferred Shares, the Company shall redeem, all of the outstanding Preferred Shares held by the requesting holder upon the written request of such holder, at any time after the earliest to occur of: (1) the Company fails to complete a Qualified IPO on or prior to April 16, 2025; (2) a breach by any of the Company, Principal Shareholders or the ESOP Holdco, where applicable, of its obligations that will have a material adverse effect to the Group; (3) A certain shareholder having requested the Company to redeem all or a portion of its shares after the occurrence of the Company’s failure to cure, within a reasonable cure period, after the occurrence of a breach by any of the Company, Principal Shareholders or the ESOP Holdco, if where applicable, of its obligations under the specified agreements has, individually or together, caused a material adverse effect on the certain shareholder’s business, goodwill, or brand (“A Certain Shareholder Redemption Event”).

The redemption amount payable for each Preferred Share upon exercise of the redemption option by the holder, will be an amount equal to the greater of (a) 120% of the Original Issue Price of such Share, or (b) 100% of Original Issue Price plus compounded accrued daily interest (on the basis of a

365-day

year basis) at a rate of twelve percent (12%) per annum. Upon the issuance of Series C, the redemption amount payable for each Preferred Share will be an amount equal to the greater of (a) 120% of the Original Issue Price, plus any dividends declared but unpaid thereon, of such Share, and (b) 100% of Original Issue Price plus compounded accrued daily interest (on the basis of a

365-day

year basis) at a rate of twelve percent (12%) per annum. Upon a redemption event, Series C Preferred Shares shall rank senior to Series B1 and Series B2 Preferred Shares, Series B1 and Series B2 Preferred Shares (the redemption of the Series B2 Preferred Shares shall rank pari passu with the redemption of Series B1 Preferred Shares) shall rank senior to Series B Preferred Shares. Series B Preferred Shares shall rank senior to Series A, Series A1 and Series A2 Preferred Shares. Series A, Series A1 and A2 Preferred Shares (the redemption of the Series A, Series A1 and Series A2 Preferred Shares shall rank pari passu with each other) shall rank senior to ordinary shares.

If any holder of outstanding Preferred Shares chooses to redeem and the Company does not have sufficient funds to pay the Redemption Price, such holder may sell its interests to a third party. If the aggregate price of the Redemption Shares in such sale to third party is less than the Redemption Price of such Redemption Shares, the Company shall be obligated to pay to the Selling Holder the excess, if any, of the Redemption Price over the aggregate price of the Redemption Shares.

Issuance of Series A1 Preferred Shares and Series A2 Preferred Shares

Prior to the issuance of Series A1 and A2 Preferred Shares, the Company shall redeem, at the option of the holder, all of the outstanding Preferred Shares held by the requesting holder, at any time after the earliest to occur of (1) a breach by any of the Company, the principal shareholders of its obligations under the transaction documents, individually or together with other breaches by the foregoing Persons of their obligations under the transaction documents, have a material adverse effect to the Company and other members within the Group; (2) any sale, conveyance, lease or disposition of all or substantially all of the Group’s assets to a third party other than an entity within the Group; (3) any acquisition, amalgamation, scheme of arrangement or merger of the Company or other entity within the Group, which the Persons having Control over the Company or such other entity within the Group will discontinue to have Control over the surviving entity; and (4) A Certain Shareholder Redemption Event.

Upon issuance of Series A1 Preferred Shares and Series A2 Preferred Shares, the Company shall redeem, at the option of any holder of outstanding Preferred Shares, all of the outstanding Preferred Shares held by the requesting holder, at any time after the earliest to occur of (1) a breach by any of the Company, the principal shareholders of its obligations under the transaction documents, individually or together with other breaches by the foregoing Persons of their obligations under the transaction documents, have a material adverse effect to the company and other members within the Group; or (2) A Certain Shareholder Redemption Event.

The redemption amount payable for each Preferred Share will be an amount equal to the greater of (a) 120% of the Original Issue Price, plus any dividends declared but unpaid thereon, of such Share, and (b) 100% of Original Issue Price plus compounded accrued daily interest (on the basis of a

365-day

year basis) at a rate of twelve percent (12%) per annum.

Liquidation preferences

Liquidation Event means any of the following events: (i) any liquidation, dissolution or winding up of the Company, (ii) any sale, conveyance, lease or disposition of all or substantially all of the Group’s assets (including by means of an exclusive licensing of all or substantially all of the Group’s intellectual property or similar arrangement) to a third party other than the Group; and (iii) any acquisition, amalgamation, scheme of arrangement or merger of the Company or the Group by or with another entity where the gross or net value of the assets or equities being acquired represents more than 50% of the consolidated total assets or the consolidated net assets of the Group, by means of any transaction or series of related transactions to which the Company or such other Group Company, as applicable, is a party (other than a transaction or series of transactions in which the Persons having Control over the Company or such other Group Companies will continue to have Control over the surviving entity). Provided, however, that the events set forth in the foregoing (ii) or (iii) shall not be deemed a Liquidation Event unless the Majority Preferred Holders have, by written notice to the Company, determined that such events constitute a Liquidation Event. The occurrence of a Liquidation Event will trigger redemption and liquidation of net assets of the Company and distribution of the proceeds to redeem all the Company’s equity securities in accordance with the seniority described below, not the Preferred Shares.

In the event of any liquidation, the holders of Preferred Shares have preference over holders of ordinary shares with respect to payment of dividends and distribution of assets. Upon Liquidation Event, Series C Preferred Shares shall rank senior to Series B1 and Series B2 Preferred Shares, Series B1 and Series B2 Preferred Shares (the liquidation preference of the Series B2 Preferred Shares shall rank pari passu with the liquidation preference of Series B1 Preferred Shares) shall rank senior to Series B Preferred Shares. Series B Preferred Shares shall rank senior to Series A, Series A1 and Series A2 Preferred Shares. Series A, Series A1 and A2 Preferred Shares (the liquidation preference of the Series A, Series A1 and Series A2 Preferred Shares shall rank pari passu with each other) shall rank senior to ordinary shares.

The holders of Preferred Shares and the ordinary shares shall be entitled to receive an amount per share equal to the greater of (a) 120% of the Original Issue Price, plus any dividends declared but unpaid thereon, of such Share, and (b) 100% of Original Issue Price plus compounded accrued daily interest (on the basis of a

365-day

year basis) at a rate of twelve percent (12%) per annum.

After setting aside or paying in full the aggregate Liquidation Preference Amount of the Series C Preferred Shares, the Series B2 Preferred Shares, the Series B1 Preferred Shares, the Series B Preferred Shares, the Series A2 Preferred Shares, the Series A1 Preferred Shares, the Series A Preferred Shares and the Ordinary Shares, the remaining assets of the Company available for distribution to Shareholders, if any, shall be distributed to the holders of Class A and Class B Ordinary Shares and Preferred Shares on a pro rata basis, based on the number of Shares then held by each holder on an as converted basis.

Dividends rights

Each holder of Preferred Shares shall be entitled to receive, prior and in preference to any declaration or payment of any cash or

non-cash

dividend on the Ordinary Shares, but pari passu with other holders of Preferred Shares, noncumulative dividends at a simple rate of four percent (4%) per annum of the Original Issue Price of such Preferred Shares on each such Preferred Share held by such holder, payable when, as and if declared by the Board. Notwithstanding the foregoing, if the Board shall declare dividends on Ordinary Shares, each holder of any Preferred Shares shall be entitled to receive the higher of (i) four percent (4%) of the Original Issue Price of such Preferred Share, and (ii) the amount of dividends in respect of the Ordinary Shares into which such Preferred Share is then convertible.

Voting rights

The holders of the Preferred Shares shall have the right to one vote for each ordinary share into which each outstanding Preferred Share held could then be converted. The holders of the Preferred Shares vote together with the Ordinary Shareholders, and not as a separate class or series, on all matters put before the shareholders. The holders of the Preferred Shares are entitled to appoint a total of 4 out of 7 directors of the Board.

Conversion upon IPO

Upon the completion of the Company’s IPO, all the issued and outstanding Preferred Shares were converted into Ordinary Shares.

Accounting for Series A, A1, A2, B, B1, B2 and C Preferred Shares

Prior to issuance of Series A1 and A2

The Company classified the Series A Preferred Shares as mezzanine equity because they were contingently redeemable upon the occurrence of certain liquidation events outside of the Company’s control. No accretion was recognized subsequently since it is not probable that the instrument will become redeemable.

Upon issuance of Series A1 and A2

The issuance of Series A1 and A2 Preferred Shares concurrently amended terms of Series A Preferred Shares. Key changes include 1) changing from all shareholders sharing net asset on pro rate basis upon liquidation to having liquidation preference based on the formula and a distribution waterfall and 2) under the liquidation event, an investor shall receive an amount equal to the higher of a) 120% of the original investment amount, and b) 100% of the original investment plus compounded accrued daily interest (on the basis of a

365-day

year basis) at a rate of twelve percent (12%) per annum. The management assessed the amendments quantitatively using the fair value model to Series A and concluded Series A should be accounted for as an extinguishment based on the assessment.

Post issuance of Series A1 and A2, the Company classified the Series A, Series A1 and A2 Preferred Shares as mezzanine equity because they were contingently redeemable upon the occurrence of certain liquidation events outside of the Company’s control. No accretion was recognized subsequently since it is not probable that the instrument will become redeemable.

Upon issuance of Series B

The issuance of Series B Preferred Shares concurrently amended terms of Series A, A1 and A2 Preferred Shares. Key changes include (i) under a redemption event, if any holder of outstanding Preferred Shares chooses to sell its interests to a third party but the aggregate price of the Redemption Shares in such sale to third party is less than the Redemption Price of such Redemption Shares, the Company shall be obligated to pay to the Selling Holder the excess, if any, of the Redemption Price over the aggregate price of the Redemption Shares; (ii) if the Company fails to complete a Qualified IPO on or prior to April 16, 2025, the redemption event is triggered.

Prior to the issuance of Series B, the Company was not obligated to pay to the Selling Holder the excess, if any, of the Redemption Price over the aggregate price of the Redemption Shares in the event redemption rights of the Series A, A1 and A2 Preferred Shares were triggered; hence, the redemption right did not meet the definition of a derivative under ASC 815. Upon the amendment, the time-based redemption right of Series A, A1 and A2 Preferred Shares, was deemed to have the characteristic of net settlement, and therefore the redemption right met the definition of a derivative. Accordingly, this feature was bifurcated and accounted for as a derivative liability, initially measured at fair value with changes in fair value in the subsequent periods recognized through earnings, as the feature is not considered clearly and closely related to the host. The Company concluded that the amendment to Series A, A1 and A2 should be accounted for as an extinguishment or modification based on its assessment on the amendments both qualitatively and quantitatively.

Post issuance of Series B

The net settlement mechanism of the redemption right described earlier exist in Series B, B1, B2 and C Preferred Shares subsequently issued. Therefore, the redemption right of Series B, B1 and B2 also met the definition of a derivative and was bifurcated and accounted for as derivative liabilities, which are initially measured at fair value with changes in fair value in the subsequent periods recognized through earnings, as the host contract of the Preferred Shares is considered to be an equity host and the redemption feature is not clearly and closely related to the host contract. The initial carrying value for each series of Preferred Shares recorded in mezzanine equity is allocated on a residual basis, after the recognition of the redemption option at its fair value upon bifurcation. The mezzanine equity component is subsequently accreted to the amount equals to redemption value of each series of Preferred Shares, less

the-then

fair value of the derivative liability using the interest method.

Accounting for extinguishment or modification

The Company concluded that the amendments to the convertible redeemable preferred shares should be accounted for as an extinguishment or modification based on its assessment both qualitatively and quantitatively. A qualitative assessment may be appropriate when the amendments to the convertible redeemable preferred shares are either so inconsequential or so significant that the Company can easily determine how the amendment should be accounted for without performing a quantitative test. When the amendments of preferred stock cannot be assessed qualitatively, a quantitative test is performed to determine whether the amendment should be accounted for as a modification or an extinguishment. If the fair value of the convertible redeemable preferred shares immediately before and after the amendment is substantially different, the amendment will be accounted for as an extinguishment; otherwise, the amendment will be accounted for as a modification. If the assessment resulted in an extinguishment, then the difference between the fair value of the modified Preferred Shares and the carrying value of the original Preferred Shares immediately before the modification shall be recognized as a reduction of, or increase to, retained earnings as a deemed dividend. If the assessment resulted in a modification, the difference between the fair value of the Preferred Shares immediately before and after the modification shall be recognized a reduction of, or increase to, retained earnings as a deemed dividend.

Accounting for a put option of an investor

In April 2020, the Company issued certain Series C to an investor, which is a fund (“Investor Fund”) owned by a partnership. As part of the arrangement, the Company provided a put option to a limited partner (“LP”) of the Investor Fund pursuant to which the LP shall have the right to redeem its LP interests in the Investor Fund (not Series C issued by the Company) with the principal amounting to RMB300,000 plus 8% annualized interest (“Fund Redemption Price”) in the event the Company was not able to reach a business agreement with the LP on or before December 31, 2020. The redemption right of the LP is accounted for as a freestanding put option at fair value, which was immaterial as of December 31, 2020. On February 28, 2021, the put option became due and invalid and the LP did not exercise its redemption right.

The Company’s Preferred Shares activities for the years ended December 31, 2019 and 2020, before their conversion into ordinary shares of the Company, are summarized below:


	Redeemable Ordinary Shares				Series A						Series A1						Series A2						Series B						Series B1						Series B2						Series C						Total
	Number of shares		Amount (RMB)		Number of shares			Amount (RMB)			Number of shares			Amount (RMB)			Number of shares			Amount (RMB)			Number of shares			Amount (RMB)			Number of shares			Amount (RMB)			Number of shares			Amount (RMB)			Number of shares			Amount (RMB)			Number of shares			Amount (RMB)
Balances as of December 31, 2018		—		—		78,108,625			532,353			67,802,375			498,581			11,671,400			108,002			160,481,700			2,274,403			133,272,750			2,685,499			38,163,575			880,635			—			—			489,500,425			6,979,473

Issuance of Preferred Shares post extinguishment		—		—		—			—			—			—			—			—			—			—			—			—			—			—			79,590,650			1,801,402			79,590,650			1,801,402
Accretion on Preferred Shares to redemption value post extinguishment		—		—		—			65,206			—			61,073			—			13,255			—			287,695			—			394,944			—			119,880			—			18,997			—			961,050
Repurchase of the Preferred Shares		—		—		—			—			—			—			—			—			—			—			—			—			(2,197,900	)		(48,447	)		—			—			(2,197,900	)		(48,447	)

Balances as of December 31, 2019		—		—		78,108,625			597,559			67,802,375			559,654			11,671,400			121,257			160,481,700			2,562,098			133,272,750			3,080,443			35,965,675			952,068			79,590,650			1,820,399			566,893,175			9,693,478

Issuance of Preferred Shares of Series C		—		—		—			—			—			—			—			—			—			—			—			—			—			—			234,840,210			6,639,361			234,840,210			6,639,361
Accretion on Preferred Shares to Redemption Value post Extinguishment		—		—		—			64,863			—			60,854			—			13,635			—			332,743			—			586,803			—			186,043			—			912,803			—			2,157,744
Conversion of Preferred Shares to Ordinary Shares upon the completion of the IPO		—		—		(78,108,625	)		(662,422	)		(67,802,375	)		(620,508	)		(11,671,400	)		(134,892	)		(160,481,700	)		(2,894,841	)		(133,272,750	)		(3,667,246	)		(35,965,675	)		(1,138,111	)		(314,430,860	)		(9,372,563	)		(801,733,385	)		(18,490,583	)

Balances as of December 31, 2020		—		—		—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—

Upon the completion of the Company’s IPO on NYSE in August, 2020, all the outstanding Preferred Shares were converted into Ordinary Shares. No mezzanine equity was recognized as of December 31, 2020 and 2021.

Fair Value of Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2021

Financial Instruments Financial Assets And Liabilities Balance Sheet Groupings [Abstract]

Summary of fair value of the financial instruments that are measured at fair value on a recurring basis

Assets and liabilities that were measured at fair value on a recurring basis were as follows:


	As of December 31, 2020								As of December 31, 2021
	Fair Value		Level I		Level II		Level III		Fair Value		Level I		Level II		Level III
Assets
Short-term investments (Note 2( j ))		2,820,711		—		2,820,711		—		2,833,763		—		2,833,763		—
Derivative assets – forward exchange contract (Note 2(e))		105,183		—		105,183		—		—		—		—		—
Debt investments(i) (Note 13 )		—		—		—		—		1,338,822		—		—		1,338,822

		2,925,894		—		2,925,894		—		4,172,585				2,833,763		1,338,822

Liabilities
Derivative liabilities - forward exchange contract (Note 2(e))		—		—		—		—		48,605		—		48,605		—

Deferred Revenue - Deferred Revenue Disclosure (Detail) - CNY (¥) ¥ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Deferred Revenue Disclosure [Abstract]
Deferred revenue - beginning of year	¥ 308,384	¥ 85,498	¥ 2,366
Additions	19,339,153	5,297,728	1,865,564
Recognition	(18,750,249)	(5,074,842)	(1,782,432)
Deferred revenue - end of year	¥ 897,288	¥ 308,384	¥ 85,498

Taxation

12 Months Ended

Dec. 31, 2021

Income Tax Disclosure [Abstract]

Taxation

. Taxation

(a) Income taxes

Cayman Islands

Under the current laws of the Cayman Islands, the Company is not subject to tax on either income or capital gain. Additionally, upon payments of dividends to the shareholders, no Cayman Islands withholding tax will be imposed.

BVI

XPeng Limited is exempted from income tax on its foreign-derived income in the BVI. There are no withholding taxes in the BVI.

Hong Kong

Under the current Hong Kong Inland Revenue Ordinance, the subsidiaries of the Group incorporated in Hong Kong are subject to 16.5% Hong Kong profit tax on their taxable income generated from operations in Hong Kong. Additionally, payments of dividends by the subsidiaries incorporated in Hong Kong to the Company are not subject to any Hong Kong withholding tax.

United States

The applicable income tax rate of United States where the Company’s subsidiaries having significant operations for the years ended December 31, 2019, 2020 and 2021 is 27.98%, which is a blended state and federal rate.

PRC

The PRC Enterprise Income Tax Law (“EIT Law”), which became effective on January 1, 2008, applies a uniform enterprise income tax (“EIT”) rate of 25% to both foreign-invested enterprises (“FIEs”) and domestic enterprises. Certified High and New Technology Enterprises (“HNTE”) are entitled to a favorable statutory tax rate of 15%, but need to

re-apply

every three years. During this three-year period, an HNTE must conduct a qualification self-review each year to ensure it meets the HNTE criteria and is eligible for the 15% preferential tax rate for that year. If an HNTE fails to meet the criteria for qualification as an HNTE in any year, the enterprise cannot enjoy the 15% preferential tax rate in that year, and must instead use the regular 25% EIT rate.

Xiaopeng Technology applied for the HNTE qualification and received approval in December 2019. Xiaopeng Technology is entitled to continue to enjoy the beneficial tax rate of 15% as an HNTE for the years 2019 through 2021.

Zhaoqing XPeng applied for the HNTE qualification and received approval in December 2020. Zhaoqing XPeng is entitled to continue to enjoy the beneficial tax rate of 15% as an HNTE for the years 2020 through 2022.

Beijing Xiaopeng applied for the HNTE qualification and received approval in December 2020. Beijing Xiaopeng is entitled to continue to enjoy the beneficial tax rate of 15% as an HNTE for the years 2020 through 2022.

Under the EIT Law enacted by the National People’s Congress of the PRC, dividends generated after January 1, 2008 and payable by a foreign investment enterprise in the PRC to its foreign investors who are

non-resident

enterprises are subject to a 10% withholding tax, unless any such foreign investor’s jurisdiction of incorporation has a tax treaty with the PRC that provides for a different withholding arrangement. Under the taxation arrangement between the PRC and Hong Kong, a qualified Hong Kong tax resident which is the “beneficial owner” and directly holds 25% or more of the equity interest in a PRC resident enterprise is entitled to a reduced withholding tax rate of 5%. The Cayman Islands, where the Company was incorporated, does not have a tax treaty with the PRC.

PRC (continued)

In accordance with accounting guidance, all undistributed earnings are presumed to be transferred to the parent company and are subject to the withholding taxes. All FIEs are subject to the withholding tax from January 1, 2008. The presumption may be overcome if the Group has sufficient evidence to demonstrate that the undistributed earnings will be

re-invested

and the remittance of the dividends will be postponed indefinitely. The Group did not record any dividend withholding tax, as it has no retained earnings for any of the years presented.

The EIT Law also provides that an enterprise established under the laws of a foreign country or region but whose “de facto management body” is located in the PRC be treated as a resident enterprise for PRC tax purposes and consequently be subject to the PRC income tax at the rate of 25% for its global income. The Implementing Rules of the EIT Law merely define the location of the “de facto management body” as “the place where the exercising, in substance, of the overall management and control of the production and business operation, personnel, accounting, properties, etc., of a

non-PRC

company is located.” Based on a review of surrounding facts and circumstances, the Group does not believe that it is likely that its operations outside of the PRC will be considered a resident enterprise for PRC tax purposes. However, due to limited guidance and implementation history of the EIT Law, there is uncertainty as to the application of the EIT Law. Should the Company be treated as a resident enterprise for PRC tax purposes, the Company will be subject to PRC income tax on worldwide income at a uniform tax rate of 25%.

According to a policy promulgated by the State Tax Bureau of the PRC and effective from 2008 onwards, enterprises engaged in R&D activities are entitled to claim an additional tax deduction amounting to 50% of the qualified R&D expenses incurred in determining its tax assessable profits for that year. The additional tax deduction amount of the qualified R&D expenses has been increased from 50% to 75%,

effective from 2018 to 2020, according to a new tax incentives policy promulgated by the State Tax Bureau of the PRC in September 2018, and was further extended to December 31, 2023 as the State Tax Bureau of the PRC announced in March 2021.

Composition of income tax expenses for the periods presented are as follows:


	For the Year Ended December 31,
	2019		2020		2021
Current income tax expenses		1		1,223		25,990
Deferred income tax expenses		—		—		—

Income tax expenses		1		1,223		25,990

Reconciliations of the income tax expenses computed by applying the PRC statutory income tax rate of 25% to the Group’s income tax expenses of the years presented are as follows:


	For the Year Ended December 31,
	2019			2020			2021
Loss before income tax expenses		(3,691,672	)		(2,730,762	)		(4,837,106	)
Income tax credit computed at the PRC statutory income tax rate of 25 % (i)		(922,918	)		(682,691	)		(1,209,277	)
Effect of preferential tax rate (ii)		271,242			111,756			254,061
Tax-free income		—			—			(25,000	)
Effect of change in tax rate		213,331			13,920			33,454
Effect of different tax rate of different jurisdictions		(9,853	)		(393,384	)		(323,601	)
Effect of additional deduction for qualified R&D expenses		(236,704	)		(156,713	)		(217,395	)
Non-deductible expenses		2,050			234,328			163,980
Changes in valuation allowance		682,853			874,007			1,349,768

Income tax expenses		1			1,223			25,990

(i)

The PRC statutory income tax rate is used because the majority of the Group’s operations are based in the PRC.

(ii)

The effect of preferential tax rate resulted in a deduction of the income tax credit computed at the PRC statutory income tax rate of 25%.

(b) Deferred tax

The Group considers positive and negative evidence to determine whether some portion or all of the deferred tax assets will be

more-likely-than-not

realized. This assessment considers, among other matters, the nature, frequency and severity of recent losses and forecasts of future profitability. These assumptions require significant judgment and the forecasts of future taxable income are consistent with the plans and estimates the Group is using to manage the underlying business. The statutory income tax rate of 25% or applicable preferential income tax rates were applied when calculating deferred tax assets.


	As of December 31,
	2019			2020			2021
Deferred tax assets:
Net operating loss carry-forwards		1,256,218			2,036,152			3,051,082
Government grants		11,579			43,145			41,565
Impairment of property, plant and equipment		11,878			21,802			12,239
Inventory reserve		27,341			11,233			7,221
Accruals and others		33,928			102,619			452,612
Valuation allowance		(1,340,944	)		(2,214,951	)		(3,564,719	)

Total deferred tax assets, net		—			—			—


	For the Year Ended December 31,
	2019			2020			2021
Valuation allowance
Balance at beginning of the year		658,091			1,340,944			2,214,951
Additions		901,491			889,877			1,511,434
Loss utilized		(5,307	)		(1,950	)		(128,212	)
Effect of change in tax rate		(213,331	)		(13,920	)		(33,454	)
Balance at end of the year		1,340,944			2,214,951			3,564,719

For the years ended December 31, 2019, 2020 and 2021, with the growth of its business performance, some subsidiaries of the Group are generating profits and utilized tax losses brought forward from prior years.

The Group has tax losses arising in Mainland China of RMB15,546,804 that will expire in one to ten years for deduction against future taxable profits


Loss expiring in 2022			8,902
Loss expiring in 2023			105,208
Loss expiring in 2024			591,759
Loss expiring in 2025			1,656,578
Loss expiring in 2026			3,455,514
Loss expiring in 2027			310,939
Loss expiring in 2028			1,627,910
Loss expiring in 2029			4,400,603
Loss expiring in 2030			1,406,957
Loss expiring in 2031			1,982,434

Total			15,546,804

The Group has tax losses arising in Hong Kong

and Others

of RMB556,521 that will not expire for deduction against future taxable profit.


Hong Kong			476,572
Others			79,949

Total			556,521

Uncertain Tax Position

The Group did not identify any significant unrecognized tax benefits for the years ended December 2019, 2020 and 2021. The Group did not incur any interest related to unrecognized tax benefits, did not recognize any penalties as income tax expenses and it also does not anticipate any significant change in unrecognized tax benefits within 12 months from December 31, 2021. In general, the PRC tax authorities mandate a period of up to five years to review a company’s tax filings. Accordingly, tax filings of the Company’s PRC subsidiaries and VIEs for tax years 2017 through 2021 remain subject to the review to be performed by the relevant PRC tax authorities.

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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Taxation - Summary of Components of Deferred Tax Assets (Detail) - CNY (¥) ¥ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Components of Deferred Tax Assets [Abstract]
Net operating loss carry-forwards	¥ 3,051,082	¥ 2,036,152	¥ 1,256,218
Government grants	41,565	43,145	11,579
Impairment of property, plant and equipment	12,239	21,802	11,878
Inventory reserve	7,221	11,233	27,341
Accruals and others	452,612	102,619	33,928
Valuation allowance	(3,564,719)	¥ (2,214,951)	¥ (1,340,944)	¥ (658,091)
Total deferred tax assets, net	¥ 0

Summary of Significant Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2021

Principles of consolidation

Basis of presentation

(a)	Basis of presentation

The shareholders and their respective equity interests in the Company remain the same immediately before and after the Reorganization. Further, the Company, being the holding company after the Reorganization, is a newly established shell company. Accordingly, the Company determined that the Reorganization lacks substance and should be treated as a

non-substantive

merger with no change in the basis of assets, liabilities and shareholders’ deficits of Chengxing.

The consolidated financial statements of the Group have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) to reflect the financial position, results of operations and cash flows of the Group. Significant accounting policies followed by the Group in the preparation of the accompanying consolidated financial statements are summarized below.

(b)	Principles of consolidation

The consolidated financial statements include the financial statements of the Company, its subsidiaries and the VIEs for which the Company is the ultimate primary beneficiary. All transactions and balances among the Company, its subsidiaries and VIEs have been eliminated upon consolidation.

A subsidiary is an entity in which the Company, directly or indirectly, controls more than one half of the voting power: has the power to appoint or remove the majority of the members of the board of directors (the “Board”): to cast majority of votes at the meeting of the Board or to govern the financial and operating policies of the investee under a statute or agreement among the shareholders or equity holders.

A VIE is an entity in which the Company, or its subsidiary, through contractual arrangements, bears the risks of, and enjoys the rewards normally associated with, ownership of the entity, and therefore the Company or its subsidiary is the primary beneficiary of the entity. In determining whether the Company or its subsidiaries are the primary beneficiary, the Company considered whether it has the power to direct activities that are significant to the VIE’s economic performance, and also the Company’s obligation to absorb losses of the VIE that could potentially be significant to the VIE or the right to receive benefits from the VIEs that could potentially be significant to the VIEs.

Use of estimates

(c)	Use of estimates

The preparation of the consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and related disclosures of contingent assets and liabilities at the balance sheet date, and the reported revenues and expenses during the reported period in the consolidated financial statements and accompanying notes. Significant accounting estimates reflected in the Group’s consolidated financial statements primarily include, but are not limited to, the determination of performance obligations and allocation of transaction price to those performance obligations, the determination of warranty cost, lower of cost and net realizable value of inventory, assessment for impairment of long-lived assets and intangible assets, recoverability of receivables, valuation of deferred tax assets, determination of share-based compensation expenses, the fair value of the redemption value of the Preferred Shares, determination of the fair value of derivative assets or liabilities arising from forward exchange contracts, determination of the fair value of debt investments accounted for under the fair value option as well as subsequent adjustments due to significant observable price changes for equity investments without readily determinable fair values and not accounted for by the equity method.

Management bases the estimates on historical experience and on various other assumptions that are believed to be reasonable, the results of which form the basis for making judgments about the carrying values of assets and liabilities. Actual results could differ from these estimates.

Functional currency and foreign currency translation

(d)	Functional currency and foreign currency translation

The Company uses Renminbi (“RMB”) as its reporting currency. The functional currencies of the Company and its subsidiaries which are incorporated in the Cayman Islands, British Virgin Islands, United States, Hong Kong and other regions is United States dollars (“US$”) or their respective local currencies, while the functional currencies of the other subsidiaries and VIEs which are incorporated in the PRC are RMB.

The determination of the respective functional currency is based on the criteria set out by ASC 830, Foreign Currency Matters.

Transactions denominated in currencies other than in the functional currency are translated into the functional currency using the exchange rates prevailing at the transaction dates. Monetary assets and liabilities denominated in foreign currencies are translated into functional currency using the applicable exchange rates at the balance sheet date.

Non-monetary

items that are measured in terms of historical cost in foreign currency are

re-measured

using the exchange rates at the dates of the initial transactions. Exchange gains or losses arising from foreign currency transactions are included in the consolidated statements of comprehensive loss.

The financial statements of the Group’s entities of which the functional currency is not RMB are translated from their respective functional currency into RMB. Assets and liabilities denominated in foreign currencies are translated into RMB at the exchange rates at the balance sheet date. Equity accounts other than earnings generated in current period are translated into RMB at the appropriate historical rates. Income and expense items are translated into RMB using the periodic average exchange rates. The resulting foreign currency translation adjustments are recorded in other comprehensive loss in the consolidated statements of comprehensive loss, and the accumulated currency translation adjustments are presented as a component of accumulated other comprehensive loss in the consolidated statements of total shareholders’ (deficit) equity.

Fair value

(e)	Fair value

Fair value is defined as the price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. When determining the fair value measurements for assets and liabilities required or permitted to be either recorded or disclosed at fair value, the Group considers the principal or most advantageous market in which it would transact, and it also considers assumptions that market participants would use when pricing the asset or liability.

The Group applies a fair value hierarchy that requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. A financial instrument’s categorization within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement. This guidance specifies a hierarchy of valuation techniques, which is based on whether the inputs into the valuation technique are observable or unobservable. The hierarchy is as follows:

Level I — Valuation techniques in which all significant inputs are unadjusted quoted prices from active markets for assets or liabilities that are identical to the assets or liabilities being measured.

Level II —Valuation techniques in which significant inputs include quoted prices from active markets for assets or liabilities that are similar to the assets or liabilities being measured and/or quoted prices for assets or liabilities that are identical or similar to the assets or liabilities being measured from markets that are not active. Also, model-derived valuations in which all significant inputs and significant value drivers are observable in active markets are Level II valuation techniques.

Level III —Valuation techniques in which one or more significant inputs or significant value drivers are unobservable. Unobservable inputs are valuation technique inputs that reflect the Group’s own assumptions about the assumptions that market participants would use in pricing an asset or liability.

The fair value guidance describes three main approaches to measure the fair value of assets and liabilities: (1) market approach; (2) income approach and (3) cost approach. The market approach uses prices and other relevant information generated from market transactions involving identical or comparable assets or liabilities. The income approach uses valuation techniques to convert future amounts to a single present value amount. The measurement is based on the value indicated by current market expectations about those future amounts. The cost approach is based on the amount that would currently be required to replace an asset.

When available, the Group uses quoted market prices to determine the fair value of an asset or liability. If quoted market prices are not available, the Group will measure fair value using valuation techniques that use, when possible, current market-based or independently sourced market parameters, such as interest rates and currency rates.

Financial assets and liabilities of the Group primarily consist of cash and cash equivalents, restricted cash, short-term deposits, short-term investments, accounts and notes receivable, installment payment receivables, long-term deposits, long-term investments,

derivative assets, other assets, accounts and notes payable, short-term borrowings, lease liabilities, accruals and other liabilities, derivative liabilities and long-term borrowings. As of December 31, 2020 and 2021, the carrying values of these financial instruments, except for other

non-current

assets, long-term deposits, long-term borrowings and

non-current

portion for lease liabilities, approximated their respective fair values due to the short-term maturity of these instruments.

Financial assets and liabilities that are measured at fair value on a recurring basis consist of short-term investments, debt investments that are accounted for under the fair value option and derivative assets or liabilities. All of its short-term investments and derivative assets or liabilities, which are comprised primarily of structured deposits, bank financial products and forward exchange contracts, are classified within Level II of the fair value hierarchy because they are floating income products linked to currency exchange rate, gold market price or benchmark interest rates. These instruments are not valued using quoted market prices, but can be valued based on other observable inputs, such as interest rates and currency rates.

The Group has debt investments that are accounted for under the fair value option (Note 13) and derivative liabilities relating to the redemption right that meet the definition of a derivative (Note 21). Both debt investments that are accounted for under the fair value option and derivative liabilities are initially measured at fair value with changes in fair value in the subsequent periods recognized through earnings. Such debt investments that are accounted for under the fair value option and derivative liabilities in relation to the redemption right that meet the definition of a derivative are classified within Level III of the fair value hierarchy, as there is little or no observable market data to determine the respective fair values. Under these circumstances, the Company has adopted certain valuation techniques using unobservable inputs to measure their respective fair values.

Cash and cash equivalents

(f)	Cash and cash equivalents

Cash and cash equivalents represent cash on hand, time deposits and highly liquid investments placed with banks or other financial institutions, which are unrestricted as to withdrawal and use, and which have original maturities of three months or less.

Cash and cash equivalents as reported in the consolidated statements of cash flows are presented separately on the consolidated balance sheets as follows:


	As of December 31,2020				As of December 31,2021
	Amount		RMB equivalent		Amount		RMB equivalent
Cash and cash equivalents:
RMB		4,428,120		4,428,120		8,513,644		8,513,644
US$		3,793,451		24,781,268		281,083		1,788,100
HKD		—		—		852,743		695,738
Others		—		—		not applicable		27,424

Total				29,209,388				11,024,906

As of December 31, 2020 and 2021, substantially all of the Group’s cash and cash equivalents were held in reputable financial institutions located in the PRC, Hong Kong and United States.

Short-term and long term deposits

(g)	Restricted cash

Restricted cash primarily represents bank deposits for letter

of credit, bank notes and forward exchange contracts amounted to RMB2,296,560 and RMB600,058 as of December 31, 2020 and 2021, respectively. In addition, restricted cash includes certain deposits, amounting to RMB35,585 and RMB9,917, as of December 31, 2020 and December 31, 2021, respectively, that are restricted due to legal disputes.

(h)	Short-term and long term deposits

Short-term deposits represent time deposits placed with banks with original maturities between three months and one year. Interest earned is recorded as interest income in the consolidated statements of comprehensive loss during the years presented. As of December 31, 2020 and 2021, substantially all of the Group’s short-term deposits amounting to RMB979,897 and RMB25,858,007, respectively,

had been

placed in reputable financial institutions in the PRC.

Long-term deposits of the Group represent time deposits placed with banks with original maturities more than one year. Interest earned is recorded as interest income in the consolidated statements of comprehensive loss during the periods presented. As of December 31, 2020 and 2021, substantially all of the Group’s long-term deposits amounting to nil and RMB3,217,266, respectively,

had been

placed in reputable financial institutions in the PRC.

Current expected credit losses

(i)	Current expected credit losses

In 2016, the FASB issued ASU

No. 2016-13,

“Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments” (“ASC Topic 326”), which amends previously issued guidance regarding the impairment of financial instruments by creating an impairment model that is based on expected losses rather than incurred losses. The Group adopted this ASC Topic 326 and several associated ASUs on January 1, 2020 using a modified retrospective approach with a cumulative-effect increase of RMB2,074 recorded in accumulated deficit.

The Group’s accounts and notes receivable, other current assets, and installment payment receivables are within the scope of ASC Topic 326. The Group has identified the relevant risk characteristics of its customers and the related receivables, other current assets and installment payment receivables, which include size, types of the services or the products the Group provides, or a combination of these characteristics. Receivables with similar risk characteristics have been grouped into pools. For each pool, the Group considers the historical credit loss experience, current economic conditions and supportable forecasts of future economic conditions in assessing the lifetime expected credit losses. Additionally, external data and macroeconomic factors are also considered. This is assessed at each quarter end based on the Group’s specific facts and circumstances. For the years ended December 31, 2020 and 2021, the Group recorded

RMB10,039 and RMB69,731 in expected credit loss expense in selling, general and administrative expenses, respectively. As of December 31, 2020, the expected credit loss provision recorded in current and

non-current

assets

wer

e RMB8,220 and RMB4,287, respectively. As of December 31, 2021, the expected credit loss provision recorded in current and

non-current

assets

wer

e RMB34,198 and RMB32,898

, respectively.

The Group typically does not record significant accounts and notes receivable related to vehicle sales and other services as customer payments are due prior to vehicle delivery, except for vehicle sales which include government subsidies that are collected from the government on behalf of customers.

Installment payment receivables primarily consist of the aggregate receivables of the installment payments for vehicles or batteries due from customers. The Group classified its installment payment receivables into different categories from performing to

non-performing

based on the credit risk of the customers and the past due days, if any, of the principal and/or interest repayments. The lifetime current expected credit losses for the installment payment receivables was determined by applying probability of default and loss given default assumptions to exposures at default, then discounted these cash flows to present value using the original effective interest rate or by an approximation thereof. As of December 31, 2020 and 2021, the majority of the installment payment receivables had been categorized as performing since the customers had a low risk of default, a strong capacity to meet contractual cash flows and had no past due repayments and the amounts of installment payment receivables of other categories were immaterial.

The Group considers historical credit loss rates for each category of deposits and other receivables and also considers forward looking macroeconomic data in making its loss accrual determinations. The Group has made specific credit loss provisions on a

case-by-case

basis for particular aged receivable balances.

The Group’s expected credit loss of cash and cash equivalents, restricted cash, time deposit in bank within the scope of ASC Topic 326 were immaterial.


	For the Year Ended
	December 31, 2020
Balance as of December 31, 2019		4,645
Adoption of ASC Topic 326		2,074

Balance as of January 1, 2020		6,719
Current period provision		10,039
Write-offs		(4,251	)

Balance as of December 31, 2020		12,507


	For the Year Ended
	December 31, 2021
Balance as of December 31, 2020		12,507
Current period provision		69,731
Write-offs		(15,142	)

Balance as of December 31, 2021		67,096

Short-term investments

(j)	Short-term investments

For investments in financial instruments with a variable interest rate indexed to the performance of underlying assets, the Group elected the fair value method at the date of initial recognition and carried these investments subsequently at fair value. Changes in fair values are reflected in the consolidated statements of comprehensive loss. The Group’s short-term investments in financial instruments were RMB2,820,711 and RMB2,833,763 as of December 31, 2020 and 2021,

respectively.

Inventory

(k)

Inventory

Inventories are stated at the lower of cost or net realizable value. Cost is calculated on the standard cost basis and includes all costs to acquire and other costs to bring the inventories to their present condition, which approximates actual cost using the monthly weighted average method. The Group records inventory write-downs for excess or obsolete inventories based upon assumptions on current and future demand forecasts. If the inventory on hand is in excess of future demand forecast, the excess amounts are written off. The Group also reviews inventory to determine whether its carrying value exceeds the net amount realizable upon the ultimate sale of the inventory. This requires the determination of the estimated selling price of the vehicles less the estimated cost to convert inventory on hand into a finished product. Once inventory is written-down, a new, lower-cost basis for that inventory is established and subsequent changes in facts and circumstances do not result in the restoration or increase in that newly established cost basis.

Inventory write-downs of RMB109,505, RMB92,612 and RMB162,433 were recognized in cost of sales for the years ended December 31, 2019, 2020 and 2021.

Property, plant and equipment, net

(l)	Property, plant and equipment, net

Property, plant and equipment are stated at cost less accumulated depreciation and impairment loss, if any. Property, plant and equipment are depreciated primarily using the straight-line method over the estimated useful life of the asset. Leasehold improvements are depreciated over the shorter of the lease term or the estimated useful lives, which range from two to ten years, of the related assets. Salvage value rate is determined to 0% based on the economic value of the property, plant and equipment at the end of the estimated useful lives as a percentage of the original cost.


	Estimated useful lives
Buildings		20 years
Machinery and equipment		5 to 10 years
Charging infrastructure		5 years
Vehicles		4 to 5 years
Computer and electronic equipment		3 years
Others		2 to 5 years

Depreciation for mold

and tooling

is computed using the

units-of-production

method whereby capitalized costs are amortized over the total estimated productive units of the related assets.

The cost of maintenance and repairs is expensed as incurred, whereas the cost of renewals and betterment that extends the useful lives of property, plant and equipment is capitalized as additions to the related assets.

Construction in progress represents property, plant and equipment under construction and pending installation and is stated at cost less accumulated impairment losses, if any. Completed assets are transferred to their respective asset classes and depreciation begins when an asset is ready for its intended use. Interest expense on outstanding debt is capitalized during the period of significant capital asset construction. Capitalized interest expense on

construction-in-progress

is included within property, plant and equipment and is amortized over the life of the related assets.

The gain or loss on the disposal of property, plant and equipment is the difference between the net sales proceeds and the carrying amount of the relevant assets and is recognized in the consolidated statements of comprehensive loss. Losses on the disposal of property, plant and equipment amounting to RMB1,191, RMB6,167 and RMB36,508 were recognized in operating expenses during the years ended December 31, 2019, 2020 and 2021, respectively.

Intangible assets, net

(m)	Intangible assets, net

Intangible assets consist of manufacturing license, surveying and mapping qualification, license plate, software and license of maintenance and overhauls. Intangible assets with finite lives, including software and license of maintenance and overhaul, are carried at acquisition cost less accumulated amortization and impairment, if any. Finite lived intangible assets are tested for impairment if impairment indicators arise.

Amortization of intangible assets with finite lives are computed using the straight-line method over the estimated useful lives as below:


	Estimated useful lives
Software		2 to 10 years
License of maintenance and overhauls		26 months

The Group estimates the useful life of the software to be 2 to 10 years based on the contract terms, expected technical obsolescence and innovations and industry experience of such intangible assets. The Group estimates the useful life of the license of maintenance and overhauls to be 26 months based on the contract terms.

The estimated useful lives of intangible assets with finite lives are reassessed if circumstances occur that indicate the original estimated useful lives may have changed.

Intangible assets that have indefinite useful lives were manufacturing license, surveying and mapping qualification and license plates as of December 31, 2021. No useful life was determined in the contract terms when the Group acquired the manufacturing license, surveying and mapping qualification and license plates. The Group expects that the manufacturing license, surveying and mapping qualification and license plates are unlikely to be terminated based on industry experience and will continue to contribute revenue in the future. Therefore, the Group considers the useful life of such intangible assets to be indefinite.

The Group evaluates indefinite-lived intangible assets as at each reporting period to determine whether events and circumstances continue to support indefinite useful lives. The value of indefinite-lived intangible assets is not amortized, but tested for impairment annually or whenever events or changes in circumstances indicate that it is more likely than not that the asset is impaired in accordance with ASC 350. The Group first performs a qualitative assessment to assess all relevant events and circumstances that could affect the significant inputs used to determine the fair value of the indefinite-lived intangible asset. If after performing the qualitative assessment, the Group determines that it is more likely than not that the indefinite-lived intangible asset is impaired, the Company calculates the fair value of the intangible asset and performs the quantitative impairment test by comparing the fair value of the asset with its carrying amount. If the carrying amount of an indefinite-lived intangible asset exceeds its fair value, the Company recognizes an impairment loss in an amount equal to that excess. In consideration of the growing electronic vehicle industry in China, the Group’s improving financial performance, the stable macroeconomic conditions in China and the Group’s future manufacturing plans, the Company determined that it is not likely that the license plate, the surveying and mapping qualification certificate and the manufacturing license were impaired as of December 31, 2020 and 2021. As such, no impairment of indefinite-lived intangible assets was recognized for the years ended December 31, 2019, 2020 and 2021.

Land use rights, net

(n)	Land use rights, net

Land use rights are recorded at cost less accumulated amortization. Amortization is provided on a straight-line basis over the estimated useful lives which are 50 years that represent the terms of land use rights certificate.

Long-term investments

(o)	Long-term investments

The Group’s long-term investments include equity investments, over which the Group has neither significant influence nor control, and debt investments.

Equity Investments with Readily Determinable Fair Values

Equity investments with readily determinable fair values are measured and recorded at fair value using the market approach based on the quoted prices in active markets at the reporting date. The Group classifies the valuation techniques that use these inputs as Level I of fair value measurements.

Equity Investments without Readily Determinable Fair Values

The Group elected to record equity investments without readily determinable fair values using the measurement alternative at cost, less impairment, adjusted for subsequent observable price changes on a nonrecurring basis, and report changes in the carrying value of the equity investments in current earnings. Changes in the carrying value of the equity investments are required to be made whenever there are observable price changes in orderly transactions for the identical or similar investment of the same issuer. The implementation guidance notes that an entity should make a “reasonable effort” to identify price changes that are known or that can reasonably be known.

Debt Investments

The Group elected to account for certain debt investments under the fair value option including convertible bonds, and preferred stock redeemable merely by the passage of time and at the option of the Group as a holder. The fair value option permits the irrevocable election on an

instrument-by-instrument

basis at initial recognition or upon an event that gives rise to a new basis of accounting for that instrument. The investments accounted for under the fair value option are carried at fair value with unrealized gains and losses recorded in the consolidated statements of comprehensive loss. Interest income from debt investments is recognized in earnings using the effective interest method which is reviewed and adjusted periodically based on changes in estimated cash flows.

Impairment of long-lived assets

(p)	Impairment of long-lived assets

Long-lived assets are evaluated for impairment whenever events or changes in circumstances (such as a significant adverse change to market conditions that will affect the future use of the assets) indicate that the carrying amount may not be fully recoverable or that the useful life is shorter than the Group had originally estimated. When these events occur, the Group evaluates the impairment by comparing carrying value of the assets to an estimate of future undiscounted cash flows expected to be generated from the use of the assets and their eventual disposition. If the sum of the expected future undiscounted cash flows is less than the carrying value of the assets, the Group recognizes an impairment loss based on the excess of the carrying value of the assets over the fair value of the assets. Fair value is determined using anticipated cash flows discounted at a rate commensurate with the risk involved.

Warranties

(q)	Warranties

The Group provided a manufacturer’s standard warranty on all vehicles sold. The Group accrued for a warranty reserve for the vehicles sold by the Group, which included the Group’s best estimate of the future costs to be incurred in order to repair or replace items under warranties and recalls when identified. These estimates were made based on actual claims incurred to date and an estimate of the nature, frequency and magnitude of future claims with reference made to the past claim history. These estimates are inherently uncertain given the Group’s relatively short history of sales, and changes to the Group’s historical or projected warranty experience may cause material changes to the warranty reserve in the future. The portion of the warranty reserve expected to be incurred within the next 12 months is included within accruals and other liabilities, while the remaining balance is included within other

non-current

liabilities on the consolidated balance sheets. Warranty expense is recorded as a component of cost of sales in the consolidated statements of comprehensive loss.

The Group does not consider standard warranty as being a separate performance obligation as it is intended to provide greater quality assurance to customers and is not viewed as a distinct obligation. Accordingly, standard warranty is accounted for in accordance with ASC 460, Guarantees. The Group also provides extended lifetime warranty which is sold separately through a vehicle sales contract. The extended lifetime warranty is an incremental service offered to customers and is considered a separate performance obligation distinct from other promises and should be accounted for in accordance with ASC 606.

Revenue recognition

(r)	Revenue recognition

Revenue is recognized when or as the control of the goods or services is transferred upon delivery to customers. Depending on the terms of the contract and the laws that apply to the contract, control of the goods and services may be transferred over time or at a point in time. Control of the goods and services is transferred over time if the Group’s performance:

•

provides all of the benefits received and consumed simultaneously by the customer;

•

creates and enhances an asset that the customer controls as the Group performs; or

•

does not create an asset with an alternative use to the Group and the Group has an enforceable right to payment for performance completed to date.

If control of the goods and services transfers over time, revenue is recognized over the period of the contract by reference to the progress towards complete satisfaction of that performance obligation. Otherwise, revenue is recognized at a point in time when the customer obtains control of the goods and services.

Contracts with customers may include multiple performance obligations. For such arrangements, the Group allocates overall contract price to each distinct performance obligation based on its relative standalone selling price in accordance with ASC 606. The Group generally determines standalone-selling prices for each individual distinct performance obligation identified based on the prices charged to customers. If the standalone selling price is not directly observable, it is estimated using expected cost plus a margin or adjusted market assessment approach, depending on the availability of observable information, the data utilized, and considering the Group’s pricing policies and practices in making pricing decisions. Assumptions and estimations have been made in estimating the relative selling price of each distinct performance obligation, and changes in judgments on these assumptions and estimates may affect the revenue recognition. The discount provided in the contract are allocated by the Group to all performance obligations as conditions under ASC

606-10-32-37

are not met.

When either party to a contract has performed, the Group presents the contract in the consolidated balance sheets as a contract asset or a contract liability, depending on the relationship between the entity’s performance and the customer’s payment.

A contract asset is the Group’s right to consideration in exchange for goods and services that the Group has transferred to a customer. A receivable is recorded when the Group has an unconditional right to consideration. A right to consideration is unconditional if only the passage of time is required before payment of that consideration is due.

If a customer pays consideration or the Group has a right to an amount of consideration that is unconditional, before the Group transfers a good or service to the customer, the Group presents the contract liability when the payment is made or a receivable is recorded (whichever is earlier). A contract liability is the Group’s obligation to transfer goods or services to a customer for which the Group has received consideration (or an amount of consideration is due) from the customer. The Group’s contract liabilities primarily result from the multiple performance obligations identified in the vehicle sales contract, which are recorded as deferred revenue and recognized as revenue based on the consumption of the services or the delivery of the goods.

Vehicle sales

The Group generates revenue from sales of electric vehicles, together with a number of embedded products and services through a contract. There are multiple distinct performance obligations explicitly stated in a sales contract including sales of vehicle, free battery charging within

4 years or 100,000

kilometers, extended lifetime warranty, option between household charging pile and charging card, vehicle internet connection services, services of lifetime free battery charging in XPeng-branded super charging stations and lifetime warranty of battery, which are defined by the Group’s sales policy and accounted for in accordance with ASC 606. The standard warranty provided by the Group is accounted for in accordance with ASC 460, Guarantees, and the estimated costs are recorded as a liability when the Group transfers the control of vehicle to a customer.

Car buyers in the PRC are entitled to government subsidies when they purchase electric vehicles. For efficiency purpose and better customer service, the Group or Zhengzhou Haima Automobile Co., Ltd. (“Haima Auto”) applies for and collect such government subsidies on behalf of the customers. Accordingly, customers only pay the amount after deducting government subsidies. The Group determined that the government subsidies should be considered as part of the transaction price because the subsidy is granted to the buyer of the electric vehicle and the buyer remains liable for such amount in the event the subsidies were not received by the Group due to the buyer’s fault such as refusal or delay of providing the relevant application information.

In the instance that some eligible customers select to pay by installments for vehicles or batteries under an auto financing program provided to the customers by the Group, such arrangement contains a significant financing component and as a result, the transaction price is adjusted to reflect the impact of time value of the transaction price using an applicable discount rate (i.e. the interest rates of the loan reflecting the credit risk of the borrower). The Group allocates the financing amount to all performance obligations proportionately based on their relative selling prices, as conditions prescribed under ASC

606-10-32-37

are not met.

Receivables related to the vehicle and battery installment payments are recognized as installment payment receivables. The difference between the gross receivable and the respective present value is recorded as unrealized finance income. Interest income resulting from arrangements with a significant financing component is presented as other sales.

The overall contract price of electric vehicle and related products/services is allocated to each distinct performance obligation based on the relative estimated standalone selling price. The revenue for sales of the vehicle and household charging pile is recognized at a point in time, when the control of the vehicle is transferred to the customer and the charging pile is installed at customer’s designated location. For vehicle internet connection service, the Group recognizes the revenue using a straight-line method. For the extended lifetime warranty and lifetime battery warranty, given limited operating history and lack of historical data, the Group recognizes revenue over time based on a straight-line method initially. The Group will continue monitoring the cost patterns periodically and adjust the timing of revenue recognition, as necessary, in order to reflect differences between actual costs incurred versus the straight line cost attribution. For the free battery charging within 4 years or 100,000 kilometers and charging card to be consumed to exchange for charging services, the Group considers that a measure of progress based on usage (rather than a time-based method) best reflects the performance, as it is typically a promise to deliver the underlying service rather than a promise to stand ready. For the services of lifetime free battery charging in XPeng-branded super charging stations, the Group recognizes the revenue over time based on a straight-line method during the expected useful life of the vehicle.

Initial refundable deposits for intention orders and

non-refundable

deposits for vehicle reservations received from customers prior to vehicle purchase agreements are signed are recognized as refundable deposits from customers (accruals and other liabilities) and advances from customers (accruals and other liabilities). When vehicle purchase agreements are signed, the consideration for the vehicle and all embedded services must be paid in advance, which means the payments received are prior to the transfer of goods or services by the Group, the Group records a contract liability (deferred revenue) for the allocated amount relating to those unperformed obligations. At the same time, advances from customers are classified as a contract liability (deferred revenue) as part of the consideration.

XPILOT, the Group’s intelligent driving system, provides assisted driving and parking functions tailored for different driving behaviors and road conditions in China. The Group rolled out XPILOT 3.0 in January 2021. A customer can subscribe for XPILOT 3.0 by either making a lump sum payment or paying annual installments over a three-year period. XPILOT 3.0 will feature several new functions, including a navigation guided pilot for highway driving and advanced intelligent parking. Revenue related to XPILOT 3.0 is recognized at a point in time when intelligent driving functionality of XPILOT 3.0 is activated and transferred to the customers.

Other services

The Group provides other services to customers including services embedded in a sales contract, super charging service, maintenance service, technical support services, ride hailing services, auto financing services and others.

Services embedded in a sales contract may include free battery charging within 4 years or 100,000 kilometers, extended lifetime warranty, option between household charging pile and charging card, vehicle internet connection services, lifetime warranty of battery and services of free battery charging services in XPeng-branded charging station. Other services also include super charging service, maintenance service and technical support services. These services are recognized under ASC 606.

The Group provides ride hailing services with smart commuting solutions to customers by using the Group’s self-owned G3 vehicles, and hiring and training drivers managed by third party agents via service agreements entered into with them. The Group believes it acts as a principal in the ride hailing services as it controls a specified good or service before it is transferred to the customers. The revenue for ride hailing services is recognized overtime in a period when the ride hailing services is consumed under ASC 606.

Practical expedients and exemptions

The Group follows the guidance on immaterial promises when identifying performance obligations in the vehicle sales contracts and concludes that lifetime roadside assistance, traffic ticket inquiry service, courtesy car service,

on-site

troubleshooting, parts replacement service and others, are not performance obligations considering these services are value-added services to enhance customer experience rather than critical items for vehicle driving and forecasted that usage of these five services will be very limited. The Group also performs an estimation on the stand-alone fair value of each promise applying a cost plus margin approach and concludes that the standalone fair value of foresaid services are insignificant individually and in aggregate, representing less than 1% of vehicle gross selling price and aggregate fair value of each individual promise.

Considering the qualitative assessment and the result of the quantitative estimate, the Group concluded not to assess whether promises are performance obligation if they are immaterial in the context of the contract and the relative stand-alone fair value individually and in aggregate is less than 1% of the contract price, namely the lifetime roadside assistance, traffic ticket inquiry service, courtesy car service,

on-site

troubleshooting and parts replacement service. Related costs are then accrued instead.

Customer Upgrade Program

In the third quarter of 2019, due to the upgrade of the G3 vehicle from the 2019 version (“G3 2019”) to its 2020 version (“G3 2020”), the Group voluntarily offered all owners of G3 2019 the options to either receive loyalty points, valid for 5 years from the grant date, which can be redeemed for goods or services, or obtain an enhanced

trade-in

right contingent on a future purchase starting from the 34th month of the original purchase date but only if they purchase a new vehicle from the Group. The owners of G3 2019 had to choose one out of the two options

within

days
after receiving the notice. Anyone who did not make the choice before the date was deemed to forgo the rights to the options. At the time the
offers were made, the Group still had unfulfilled performance obligations for services to the owners of G3 2019 associated with their original purchase. The Group considered this offering is to improve the satisfaction of the owners of G3 2019 but not the result of any defects or resolving past claims regarding the G3 2019.

As both options provide a material right (a significant discount on future goods or services) for no consideration to existing customers with unfulfilled performance obligations, the Group considers this arrangement to be a modification of the existing contracts with customers. Further, as the customers did not pay for these additional rights, the contract modification is accounted for as a termination of the original contract and commencement of a new contract, which will be accounted for prospectively. The material right from the loyalty points or the

trade-in

right shall be considered in the reallocation of the remaining consideration from the original contracts among the promised goods or services not yet transferred at the time of the contract modification. This reallocation is based on the relative stand-alone selling prices of these goods and services.

For the material right attached with loyalty points, the Group estimated the probability of points redemption when determining the stand-alone selling price. Due to the fact that most merchandises can be redeemed without requiring a significant amount of points, as compared with the amount of points granted to the customers, the Group believes it is reasonable to assume all points will be redeemed and no forfeiture is estimated currently. The amount allocated to the points as a separate performance obligation is recorded as a contract liability (deferred revenue) and revenue will be recognized when future goods or services are transferred. The Group will continue to monitor forfeiture rate data and will apply and update the estimated forfeiture rate at each reporting period.

According to the terms of the

trade-in

program, owners of G3 2019 who elected the

trade-in

right have the option to trade in their G3 2019 at a fixed predetermined percentage of its original G3 2019 purchase price (the “guaranteed

trade-in

value”) starting from the 34th month of the original purchase date but only if they purchase a new vehicle from the Group. Such

trade-in

right is valid for 120 days. That is, if the owner of a G3 2019 does not purchase a new vehicle within that

120-day

period, the

trade-in

right expires. The guaranteed

trade-in

value will be deducted from the retail selling price of the new vehicle purchase. The customer cannot exercise the

trade-in

right on a stand-alone basis solely as a function of their original purchase of the G3 2019 and this program, and therefore, the Group does not believe the substance of the program is a repurchase feature that provides the customer with a unilateral right of return. Rather, the

trade-in

right and purchase of a new vehicle are linked as part of a single transaction to provide a loyalty discount to existing customers. The Group believes the guaranteed

trade-in

value will be greater than the expected market value of the G3 2019 at the time the

trade-in

rights become exercisable, and therefore, the excess value is essentially a sales discount granted on the new vehicle purchase. The Group estimated the potential forfeiture rate based on the market expectation of the possibility of future buying and applied the forfeiture rate when determining the stand-alone selling price at the date of contract modification. The amount allocated to the

trade-in

right as a separate performance obligation is recorded as a contract liability (deferred revenue) and revenue will be recognized when the

trade-in

right is exercised and a new vehicle is purchased. The Group will continue to reassess the reasonableness of the forfeiture rate applied in the subsequent reporting periods.

Cost of sales

(s)	Cost of sales

Vehicle

Cost of vehicle revenue includes direct parts, materials, labor costs and manufacturing overheads (including depreciation of assets associated with the production) and reserves for estimated warranty expenses. Cost of vehicle revenue also includes charges to write-down the carrying value of the inventories when it exceeds its estimated net realizable value and to provide for

on-hand

inventories that are either obsolete or in excess of forecasted demand, and impairment charge of property, plant and equipment.

Services and others

Cost of services and others revenue generally includes cost of direct parts, materials, labor costs, installment costs, costs associated with providing

non-warranty

after-sales services and depreciation of associated assets used for providing the services.

Cost of ride hailing services revenue also includes agent and service fees paid to third party agents and revenue sharing fees to a third party data supporting entity.

Research and development expenses

(t)	Research and development expenses

All costs associated with research and development (“R&D”) are expensed as incurred. R&D expenses consist primarily of employee compensation for those employees engaged in R&D activities, design and development expenses with new technology, materials and supplies and other R&D related expenses. For the years ended December 31, 2019, 2020 and 2021, R&D expenses were RMB2,070,158, RMB1,725,906 and RMB4,114,267 respectively.

Earnings (losses) per share

(u)	Selling, general and administrative expenses

Sales and marketing expenses consist primarily of employee compensation and marketing, promotional and advertising expenses. Advertising expenses consist primarily of costs for the promotion of corporate image and product marketing. For the years ended December 31, 2019, 2020 and 2021, advertising costs were RMB168,170, RMB517,135 and RMB873,256

respectively, and total sales and marketing expenses were RMB668,602, RMB1,737,765 and RMB4,276,366 respectively.

General and administrative expenses consist primarily of employee compensation for employees involved in general corporate functions and those not specifically dedicated to R&D activities, depreciation and amortization expenses, legal, and other professional services fees, lease and other general corporate related expenses. For the years ended December 31, 2019, 2020 and 2021, general and administrative expenses were RMB495,967, RMB1,182,884 and RMB1,029,067

respectively.

Employee benefits

(v)	Employee benefits

Full-time employees of the Group in the PRC participate in a government mandated defined contribution plan, pursuant to which certain pension benefits, work-related injury benefits, maternity insurance, medical care, employee housing fund and other welfare benefits are provided to the employees. Chinese labor regulations require that the PRC subsidiaries and VIEs of the Group make contributions to the government for these benefits based on certain percentages of the employees’ salaries, up to a maximum amount specified by the local government. The PRC government is responsible for the medical benefits and the pension liability to be paid to these employees and the Group’s obligations are limited to the amounts contributed and no legal obligation beyond the contributions made. Total amounts of such employee benefit expenses, which were expensed as incurred, were approximately RMB215,046, RMB152,361 and RMB466,444 for the years ended December 31, 2019, 2020 and 2021, respectively.

Government grants

(w)	Government grants

The Group’s PRC based subsidiaries received government subsidies from certain local governments. The Group’s government subsidies consist of specific subsidies and other subsidies. Specific subsidies are subsidies that the local government has provided for a specific purpose, such as land fulfillment costs and production and capacity subsidies related to the manufacturing plant construction of Zhaoqing XPeng (“Zhaoqing manufacturing plant”). Other subsidies are the subsidies that the local government has not specified its purpose for and are not tied to future trends or performance of the Group, receipt of such subsidy income is not contingent upon any further actions or performance of the Group and the amounts do not have to be refunded under any circumstances. Specific subsidies relating to interest expense already capitalized are accounted for as a reduction in such a capitalized amount with the subsidy benefit reflected over the related asset useful life through reduced depreciation expense. Specific subsidies relating to interest expenses incurred are initially recognized as a liability if the amount is received in advance (of the incurrence of interest expense). Such amounts would then reduce related interest expense when incurred. Other subsidies are recognized as other income upon receipt as further performance by the Group is not required.

Other income, net

(x)	Other income, net

For the years ended December 31, 2019, 2020, other income, net mainly represents other subsidies that are recognized upon receipt

recognized

in profit or loss of RMB12,294 and

RMB86,830

, as further performance by the Group is not required.

For the year ended December 31, 2021, other income, net mainly represents other subsidies that are

recognized

upon receipt

recognized

in profit or loss of RMB350,596, as further performance by the Group is not required, offset partially by relocation and disposal cost of RMB132,856 related to the Haima Plant (Note 20).

For the year ended December 31, 2021, other subsidies recognized in other income mainly consisted of government subsidies of RMB214,486 to subsidize its repayment of the long-term borrowings of RMB700,000 due to Zhaoqing High-tech Zone before the original due date (Note 15).

Income taxes

(y)	Income taxes

Current income taxes are recorded in accordance with the regulations of the relevant tax jurisdiction. The Group accounts for income taxes under the asset and liability method in accordance with ASC 740, Income Tax. Under this method, deferred tax assets and liabilities are recognized for the tax consequences attributable to differences between carrying amounts of existing assets and liabilities in the consolidated financial statements and their respective tax basis, and operating loss carry-forwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred taxes of a change in tax rates is recognized in the consolidated statements of comprehensive loss in the period of change. Valuation allowances are established when necessary to reduce the amount of deferred tax assets if it is considered more likely than not that amount of the deferred tax assets will not be realized.

Uncertain tax positions

The guidance on accounting for uncertainties in income taxes prescribes a more likely than not threshold for financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. Guidance was also provided on derecognition of income tax assets and liabilities, classification of current and deferred income tax assets and liabilities, accounting for interest and penalties associated with tax positions, accounting for income taxes in interim periods, and income tax disclosures. The Group recognizes interests and penalties, if any, under accrued expenses and other current liabilities on its consolidated balance sheets and under other expenses in its consolidated statements of comprehensive loss. The Group did not recognize any significant interest and penalties associated with uncertain tax positions for the years ended December 31, 2019, 2020 and 2021. As of December 31, 2020 and 2021, the Group did not have any significant unrecognized uncertain tax positions.

Share-based compensation

(z)	Share-based compensation

The Group grants restricted share units (“RSUs”), restricted shares and share options (collectively, “Share-based Awards”) to eligible employees and accounts for share-based compensation in accordance with ASC 718, Compensation—Stock Compensation. Share-based awards are measured at the grant date fair value of the awards and recognized as expenses using graded vesting method or straight-line method, net of estimated forfeitures, if any, over the requisite service period. For awards with performance conditions, the Company would recognize compensation cost if and when it concludes that it is probable that the performance condition will be achieved.

The fair value of the RSUs and restricted shares granted prior to the completion of the IPO were assessed using the income approach/discounted cash flow method, with a discount for lack of marketability given that the shares underlying the awards were not publicly traded at the time of grant. This assessment requires complex and subjective judgments regarding the Company’s projected financial and operating results, its unique business risks, the liquidity of its ordinary shares and its operating history and prospects at the time the grants were made. The fair value of share options granted prior to the completion of the IPO is estimated on the grant or offering date using the Binomial option-pricing model. The assumptions used in share-based compensation expense recognition represent management’s best estimates, but these estimates involve inherent uncertainties and application of management judgment. If factors change or different assumptions are used, the share-based compensation expenses could be materially different for any period. Moreover, the estimates of fair value of the awards are not intended to predict actual future events or the value that ultimately will be realized by grantees who receive Share-based Awards, and subsequent events are not indicative of the reasonableness of the original estimates of fair value made by the Company for accounting purposes.

The fair value of the RSUs granted subsequent to the completion of the IPO is estimated based on the fair market value of the underlying ordinary shares of the Company on the date of grant.

Share options granted to employees:

Since 2015, Chengxing has granted options to certain directors, executive officers and employees. The options granted are exercisable only upon the completion of an IPO or change in control.

Share options granted to employees includes both service condition and performance condition. Employees are required to provide continued services through the satisfaction of the occurrence of change of control or an IPO (“Liquidity Event”) to retain the award since no share option would be vested prior to the occurrence of the Liquidity Event even though the service condition has been satisfied. Given the vesting of the share options granted is contingent upon the occurrence of the Liquidity Event, there is no share-based compensation expense to be recognized until the date of consummation of Liquidity Event.

On June 28, 2020, the board of directors of the Company approved the 2019 Equity Incentive Plan (“ESOP Plan”) with 161,462,100 Class A ordinary shares reserved. Options, restricted shares, RSUs, dividend equivalents, share appreciation rights and share payments may be granted under the ESOP Plan.

In June 2020, the Group agreed with the participants to cancel the existing stock options granted during the period between 2015 and the first quarter of 2020 along with a concurrent grant of a replacement RSUs (“Replacement”).

Restricted share units granted to employees:

Prior to the completion of the IPO, RSUs granted to employees include both service condition and performance condition. Employees are required to provide continued service through the satisfaction of the occurrence of Liquidity Event to retain the award since no RSU would be vested prior to the occurrence of the Liquidity Event even though the service condition has been satisfied. The Group also granted RSUs in 2020 with only performance condition and the RSUs would be vested upon the occurrence of Liquidity Event. Given the vesting of these two types of RSUs granted is contingent upon the occurrence of the Liquidity Event, there is no share-based compensation expense to be recognized until the date of consummation of Liquidity Event. In July 2020, RSUs vested immediately upon grant date were granted to employees and the share-based compensation expense were recognized immediately on the grant date.

Subsequent to the completion of the IPO, the Group granted RSUs with only service condition to employees and the share-based compensation expense were recognized over the vesting period using straight-line method.

Restricted shares granted to two

co-founders:

In the year ended December 31, 2019, two

co-founders

have agreed that their founders’ shares would be subject to requisite service conditions that shall vest in a certain period. The restricted shares require future requisite service and it does not contain a market or performance condition that must be satisfied before the grant date. Accordingly, no share-based compensation expenses had been recognized prior to the grant date but would be recognized based on the fair value of the shares at the grant date over the requisite service period.

A change in any of the terms or conditions of restricted shares granted to two

co-founders

is accounted for as a modification of the awards. The cumulative amount of share-based compensation expenses that would be recognized is the original grant-date fair value of the award plus any incremental fair value resulting from the modification. The Group calculates incremental compensation expense of a modification as the excess of the fair value of the modified awards over the fair value of the original awards immediately before its terms are modified at the modification date. For vested restricted shares, the Group recognizes incremental compensation cost in the period when the modification occurs. For restricted shares not being fully vested, the Group recognizes the sum of the incremental compensation expense and the remaining unrecognized compensation expense for the original awards over the remaining requisite service period after modification.

As of December 31, 2019, all the restricted shares of two

co-founders

have been vested.

Statutory reserve

(aa)	Statutory reserve

The Group’s subsidiaries and VIEs established in the PRC are required to make appropriations to certain

non-distributable

reserve funds.

In accordance with the laws applicable to PRC’s Foreign Investment Enterprises, the Group’s subsidiaries registered as wholly owned foreign enterprises have to make appropriations from its

after-tax

profit (as determined under the Accounting Standards for Business Enterprises as promulgated by the Ministry of Finance of the People’s Republic of China (“PRC GAAP”) to reserve funds including general reserve fund, and staff bonus and welfare fund. The appropriation to the general reserve fund must be at least 10% of the

after-tax

profits calculated in accordance with PRC GAAP. Appropriation is not required if the reserve fund has reached 50% of the registered capital of the company. Appropriation to the staff bonus and welfare fund is at the company’s discretion.

In addition, in accordance with the Company Laws of the PRC, the VIEs of the Company registered as PRC domestic companies must make appropriations from its

after-tax

profit as determined under the PRC GAAP to

non-distributable

reserve funds including a statutory surplus fund and a discretionary surplus fund. The appropriation to the statutory surplus fund must be at least 10% of the

after-tax

profits as determined under the PRC GAAP. Appropriation is not required if the surplus fund has reached 50% of the registered capital of the company. Appropriation to the discretionary surplus fund is made at the discretion of the company.

The use of the general reserve fund, statutory surplus fund and discretionary surplus fund is restricted to the offsetting of losses or increasing capital of the respective company. The staff bonus and welfare fund is a liability in nature and is restricted to fund payments of special bonus to staff and for the collective welfare of employees. No reserves are allowed to be transferred to the Company in terms of cash dividends, loans or advances, nor can they be distributed except under liquidation.

For the years ended December 31,2019, 2020 and 2021, appropriations to general reserve fund and statutory surplus fund amounted to nil, nil and RMB6,047, respectively.

Comprehensive loss

(ab)	Comprehensive loss

The Group applies ASC 220, Comprehensive Income, with respect to reporting and presentation of comprehensive loss and its components in a full set of financial statements. Comprehensive loss is defined to include all changes in equity of the Group during a period arising from transactions and other events and circumstances except those resulting from investments by shareholders and distributions to shareholders. For the years presented, the Group’s comprehensive loss includes net loss and other comprehensive loss, which primarily consists of the foreign currency translation adjustment that has been excluded from the determination of net loss.

Leases

(ac)

Leases

In February 2016, the FASB issued ASC 842, Leases, to require lessees to recognize all leases, with certain exceptions, on the balance sheets, while recognition on the statement of operations will remain similar to lease accounting under ASC 840. Subsequently, the FASB issued ASU

No. 2018-10,

Codification Improvements to Topic 842, Leases, ASU

No. 2018-11,

Targeted Improvements, ASU

No. 2018-20,

Narrow-Scope Improvements for Lessors, and ASU

2019-01,

Codification Improvements, to clarify and amend the guidance in ASU

No. 2016-02.

ASC 842 eliminates real estate-specific provisions and modifies certain aspects of lessor accounting.

(a) As a lessee

Operating lease

The Group early adopted the ASUs as of January 1, 2018 using the cumulative effect adjustment approach. Upon adoption, the Group elected the package of practical expedients permitted under the transition guidance within the new standard, which allowed the Group to carry forward the historical determination of contracts as leases, lease classification and not reassess initial direct costs for historical lease arrangements. In addition, the Group also elected the practical expedient to apply consistently to all of the Group’s leases to use hindsight in determining the lease term (that is, when considering lessee options to extend or terminate the lease and to purchase the underlying asset) and in assessing impairment of the Group’s

right-of-use

assets.

The Group includes a

right-of-use

asset and lease liability related to substantially all of the Group’s lease arrangements in the consolidated balance sheets. All of the Group’s leases are operating leases. Operating lease assets are included within

right-of-use

assets, and the corresponding lease liabilities are included within current portion of lease liabilities for the current portion, and within lease liabilities for the long-term portion on the consolidated balance sheets as of December 31, 2020 and 2021.

The Group has lease agreements with lease and

non-lease

components, and has elected to utilize the practical expedient to account for the

non-lease

components together with the associated lease component as a single combined lease component.

The Group has elected not to present short-term leases on the consolidated balance sheets as these leases have a lease term of 12 months or less at commencement date of the lease and do not include options to purchase or renew that the Group is reasonably certain to exercise. The Group recognizes lease expenses for such short-term lease generally on a straight-line basis over the lease term. All other lease assets and lease liabilities are recognized based on the present value of lease payments over the lease term at commencement date. Because most of the Group’s leases do not provide an implicit rate of return, the Group uses the Group’s incremental borrowing rate based on the information available at adoption date or lease commencement date in determining the present value of lease payments.

(b) As a lessor

The Group provides vehicle leasing service to customers under operating lease.

The Group recognizes the lease payments as vehicle leasing income in profit or loss over the lease term on a straight-line basis.

Dividends

(ad)

Dividends

Dividends are recognized when declared. No dividends was declared for the years ended December 31, 2019, 2020 and 2021, respectively.

(ae)	Earnings (losses) per share

Basic earnings (loss) per share is computed by dividing net income (loss) attributable to holders of ordinary shares, considering the accretion on Preferred Shares to redemption value and deemed contribution from repurchase of Preferred Shares, by the weighted average number of ordinary shares outstanding during the period using the

two-class

method. Under the

two-class

method, net income is allocated between ordinary shares and other participating securities based on their participating rights. Diluted earnings (loss) per share is calculated by dividing net income (loss) attributable to ordinary shareholders, as adjusted for the effect of dilutive ordinary equivalent shares, if any, by the weighted average number of ordinary and dilutive ordinary equivalent shares outstanding during the period. Ordinary equivalent shares consist of shares issuable upon the conversion of the Preferred Shares using the

if-converted

method, unvested restricted shares, and ordinary shares issuable upon the exercise of outstanding share options (using the treasury stock method). Ordinary equivalent shares are not included in the denominator of the diluted earnings per share calculation when inclusion of such shares would be anti-dilutive.

Segment reporting

(af)	Segment reporting

ASC 280, Segment Reporting, establishes standards for companies to report in their financial statements information about operating segments, products, services, geographic areas, and major customers.

Based on the criteria established by ASC 280, the Group’s chief operating decision maker (“CODM”) has been identified as the Chief Executive Officer, who reviews consolidated results when making decisions about allocating resources and assessing performance of the Group. As a whole and hence, the Group has only one reportable segment. The Group does not distinguish between markets or segments for internal reporting. As the Group’s long-lived assets are substantially located in the PRC, no geographical segments are presented.

Manufacturing in Collaboration with Haima Auto - Additional Information (Detail) ¥ in Thousands		12 Months Ended
	Mar. 31, 2017	Dec. 31, 2021 CNY (¥) units
Offsetting Assets [Line Items]
Other operating expenses		¥ 132,856
Collaborative Arrangement [Member] \| Haima Auto [Member]
Offsetting Assets [Line Items]
Collaborative arrangement, date of contract	Mar. 31, 2017
Collaborative arrangement, expiration date		Dec. 31, 2021
Annual production capacity \| units		50,000
Other operating expenses		¥ 132,856
Relocation and disposal costs		96,031
Payment of termination Fee		¥ 43,755

Summary of Significant Accounting Policies

12 Months Ended

Dec. 31, 2021