0001193125-23-098408 | 20-F | XBRL Viewer

Fair value gain on derivative assets or derivative liabilities

^[1]

(6,688,246)

(5,305,433)

(2,920,649)

Total operating expenses

^[1]

(11,903,082)

(9,419,700)

(4,646,555)

Other income, net

109,168

217,740

86,830

Loss from operations

(8,705,523)

(6,579,405)

(4,293,736)

Interest income

1,058,771

743,034

133,036

Interest expenses

(132,192)

(55,336)

(22,451)

59,357

79,262

1,362,025

Fair value gain on long-term investments

25,062

591,506

Exchange gain (loss) from foreign currency transactions

(1,460,151)

313,580

81,181

Other non-operating income, net

36,318

70,253

9,183

Loss before income tax expenses and share of results of equity method investees

(9,118,358)

(4,837,106)

(2,730,762)

Income tax expenses

(24,731)

(25,990)

(1,223)

Share of results of equity method investees

4,117

Net loss

(9,138,972)

(4,863,096)

(2,731,985)

Net loss attributable to ordinary shareholders of XPeng Inc.

(2,157,744)

(9,138,972)

(4,863,096)

(4,889,729)

Other comprehensive (loss) income

Foreign currency translation adjustment, net of nil tax

3,192,573

(918,168)

(724,433)

Total comprehensive loss attributable to XPeng Inc.

(5,946,399)

(5,781,264)

(3,456,418)

Comprehensive loss attributable to ordinary shareholders of XPeng Inc.

(2,157,744)

¥ (5,946,399)

¥ (5,781,264)

¥ (5,614,162)

Weighted average number of ordinary shares, Basic

1,712,533,564

1,642,906,400

754,270,914

Weighted average number of ordinary shares, Diluted

1,712,533,564

1,642,906,400

754,270,914

Net loss per ordinary share, Basic

¥ (5.34)

¥ (2.96)

¥ (6.48)

Net loss per ordinary share, Diluted

¥ (5.34)

¥ (2.96)

¥ (6.48)

Vehicle [Member]

Revenues

Total revenues

¥ 24,839,637

¥ 20,041,955

¥ 5,546,754

Cost of sales

Total cost of sales

(22,493,122)

(17,733,036)

(5,350,479)

Services and others [Member]

Revenues

Total revenues

2,015,482

946,176

297,567

Cost of sales

Total cost of sales

¥ (1,273,606)

¥ (632,540)

¥ (227,853)

[1]	Share-based compensation was allocated in cost of sales and operating expenses as follows:

CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS (Parenthetical) - CNY (¥) ¥ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Share Based Compensation Expense	¥ 710,486	¥ 379,948	¥ 996,417
Cost of Sales [Member]
Share Based Compensation Expense	3,183	0	0
Selling, General and Administrative Expenses [Member]
Share Based Compensation Expense	282,667	154,995	678,014
Research and Development Expense [Member]
Share Based Compensation Expense	¥ 424,636	¥ 224,953	¥ 318,403

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 Reserves [Member]	Accumulated Other Comprehensive (Loss) Income [Member]	Accumulated Deficit [Member]	Accumulated Deficit [Member] IPO [Member]	Accumulated Deficit [Member] Cumulative Effect, Period of Adoption, Adjustment [Member]
Beginning balance at Dec. 31, 2019	¥ (6,830,430)				¥ (2,074)	¥ 30				¥ (9)	¥ 0					¥ (5,948)	¥ (6,824,503)		¥ (2,074)
Beginning balance (Shares) at Dec. 31, 2019						463,189,950				(100,442,575)
Repurchase of ordinary shares, value						¥ (9)				¥ 9
Repurchase of ordinary shares, shares						(100,442,575)				100,442,575
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)
Issuance of ordinary shares, value		¥ 11,409,248	¥ 15,980,227				¥ 16	¥ 7				¥ 11,409,232	¥ 15,980,220
Issuance of ordinary shares, shares							229,386,666	110,400,000
Issuance of treasury shares, shares						60,687,680				(60,687,680)
Issuance of treasury shares, value						¥ 5				¥ (5)
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, value	57,875									¥ 1	57,874
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
Accretion on convertible redeemable Preferred Shares to redemption value as of the completion of the IPO	0
Issuance of ordinary shares, value				¥ 13,118,085					¥ 6					¥ 13,118,079
Issuance of ordinary shares, shares									97,083,300
Issuance of treasury shares, shares						9,396,714				(9,396,714)
Issuance of treasury shares, value						¥ 1				¥ (1)
Transfer from treasury shares to outstanding ordinary shares for vested RSUs,shares										11,075,214
Transfer from treasury shares Value to outstanding ordinary shares for vested RSUs , value										¥ 1	(1)
Issuance of ordinary shares for the vested restricted share Units, value						¥ 1				¥ 3	(4)
Issuance of ordinary shares for the vested restricted share Units, shares						26,471,648				29,494,090
Foreign currency translation adjustment, net of nil tax	(918,168)															(918,168)
Net loss	(4,863,096)																(4,863,096)
Appropriations to statutory reserves															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)
Share-based compensation, value	710,486										710,486
Accretion on convertible redeemable Preferred Shares to redemption value as of the completion of the IPO	0
Issuance of treasury shares, shares						10,614,576				(10,614,576)
Issuance of treasury shares, value						¥ 1				¥ (1)
Transfer from treasury shares to outstanding ordinary shares for vested RSUs,shares										17,567,096
Transfer from treasury shares Value to outstanding ordinary shares for vested RSUs , value										¥ 1	(1)
Issuance of ordinary shares for the vested restricted share Units, value						¥ 0				¥ 0	0
Issuance of ordinary shares for the vested restricted share Units, shares						2,030,152				0
Foreign currency translation adjustment, net of nil tax	3,192,573															3,192,573
Net loss	(9,138,972)																(9,138,972)
Appropriations to statutory reserves															378		(378)
Ending balance at Dec. 31, 2022	¥ 36,910,665					¥ 114				¥ (1)	¥ 60,691,019				¥ 6,425	¥ 1,544,024	¥ (25,330,916)
Ending balance (Shares) at Dec. 31, 2022						1,725,402,056				(4,919,170)

CONSOLIDATED STATEMENTS OF CASH FLOWS - CNY (¥) ¥ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Cash flows from operating activities
Net loss	¥ (9,138,972)	¥ (4,863,096)	¥ (2,731,985)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation of property, plant and equipment	915,481	573,247	302,974
Amortization of intangible assets	65,714	25,875	20,169
Amortization of right-of-use assets	379,200	229,031	109,473
Amortization of land use rights	50,309	9,642	5,323
Loss of disposal of property, plant and equipment	15,682	36,508	6,167
Impairment of property, plant and equipment	30,849	34,589	63,251
Impairment of intangible assets	26,418	0	0
Current expected credit loss of accounts and notes receivable	11,369	16,175	6,216
Current expected credit loss of installment payment receivables	43,971	49,978	3,454
Current expected credit loss of other current assets	12,314	3,578	369
Inventory write-downs	220,319	162,433	92,612
Foreign exchange (gains) losses	1,460,151	(313,580)	(81,181)
Interest income	(237,657)	(351,926)	(65,676)
Share-based compensation	710,486	379,948	996,417
Fair value gain on derivative assets or derivative liabilities	(59,357)	(79,262)	(1,362,025)
Fair value gain on long-term investments	(25,062)	(591,506)	0
Share of results of equity method investees	(4,117)	0	0
Changes in operating assets and liabilities:
Accounts and notes receivable	(1,210,721)	(1,560,777)	(595,908)
Inventory	(2,475,785)	(1,940,225)	(981,521)
Amounts due from related parties	(14,339)	(32,103)	21,923
Prepayments and other current assets	(219,127)	(652,033)	(792,863)
Other non-current assets	(23,124)	(68,136)	(30,808)
Accounts and notes payable	1,860,670	7,250,441	4,157,799
Deferred revenue	185,961	588,904	222,886
Operating lease liabilities	(380,006)	(237,846)	(108,134)
Accruals and other liabilities	119,283	2,260,378	722,967
Other non-current liabilities	237,117	187,923	266,932
Installment payment receivables	(776,585)	(2,247,136)	(401,190)
Amounts due to related parties	(17,736)	12,857	11,384
Income taxes payable	4,918	21,528	1,209
Net cash used in operating activities	(8,232,376)	(1,094,591)	(139,766)
Cash flows from investing activities
(Placement) maturities of short-term deposits	11,922,171	(24,899,368)	(979,897)
(Placement) maturities of short-term investments	1,625,763	62,305	(2,347,191)
Placement of long term deposits	(3,822,326)	(3,157,891)	0
Purchase of property, plant and equipment	(4,275,838)	(2,299,698)	(806,067)
Receipt of government subsidy related to assets	166,260	12,954	243,838
Maturities of derivative assets or derivative liabilities	10,752	233,050	0
Purchase of intangible assets	(98,047)	(288,084)	(426,089)
Disposal of property, plant and equipment	77,059	24,124	24,505
Purchase of land use rights	(306,014)	(223,113)	0
Prepayment for acquisition of assets	0	(23,132)	0
Prepayments for subscription of equity securities	0	(50,000)	0
Prepayment for acquisition of land use rights	0	(1,507,170)	(130,260)
Disposal of long-term investments	165,000	0	16,000
Cash paid for long-term investments	(618,814)	(959,855)	(1,000)
Net cash (used in) provided by investing activities	4,845,966	(33,075,878)	(4,406,161)
Cash flows from financing activities
Proceeds from issuance of convertible redeemable Preferred Shares	0	0	7,282,554
Proceeds from IPO, net of issuance costs	0	0	11,410,386
Proceeds from FO, net of issuance costs	0	0	15,988,903
Proceeds from Global Offering, net of issuance costs	0	13,146,811	0
Proceeds from borrowings	6,800,730	840,106	1,028,335
Repayment of borrowings	(681,710)	(982,900)	(1,380,385)
Loans from a related party	0	0	1,063,434
Repayment of loans to a related party	0	0	(1,063,434)
Proceeds from debt from third party investors	0	1,660,000	0
Repayment of debt from third party investors	(98,000)	0	0
Repayments of finance lease liabilities	(15,355)	0	0
Payments of listing expenses	(1,830)	(36,924)	0
Net cash provided by financing activities	6,003,835	14,627,093	34,329,793
Effects of exchange rate changes on cash, cash equivalents and restricted cash	461,740	(363,276)	(650,076)
Net increase (decrease) in cash, cash equivalents and restricted cash	3,079,165	(19,906,652)	29,133,790
Cash, cash equivalents and restricted cash at beginning of the year	11,634,881	31,541,533	2,407,743
Cash, cash equivalents and restricted cash at end of the year	14,714,046	11,634,881	31,541,533
Supplemental disclosure of cash flows information
Cash paid for interest, net of amounts capitalized	(162,470)	(126,090)	(76,093)
Acquisition of property, plant and equipment included in liabilities	¥ 1,624,432	¥ 843,732	¥ 235,117

Organization and Nature of Operations

12 Months Ended

Dec. 31, 2022

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 delivered its fourth model of smart electric vehicles, a flagship SUV, G9, since September 2022. It manufactures all vehicles through its own plants in Zhaoqing and Guangzhou. As of December 31, 2021 and 2022, 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, 2022, the Company’s principal subsidiaries and VIEs are as follows:

Place of

incorporation

Date of incorporation
or acquisition

Equity
interest held

Principal activities

Principal subsidiaries

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

Design and technology development

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

(2)

PRC

February 13, 2020

100

Manufacturing of vehicles

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

PRC

May 18, 2017

100

Manufacturing of vehicles

Xiaopeng Motors Sales Co., Ltd. (“Xiaopeng Motors Sales”)

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

Beijing Xiaopeng Automobile Sales Service Co., Ltd.

PRC

November 09, 2020

100

Vehicle wholesale and retail

Shenzhen Xiaopeng Automobile Sales Service Co., Ltd.

PRC

August 06, 2018

100

Vehicle wholesale and retail

Hangzhou Zhipeng Automobile Sales Service Co., Ltd.

PRC

April 10, 2019

100

Vehicle wholesale and retail

Guangzhou Xiaopeng Automatic Driving Technology Co., Ltd.

PRC

November 18, 2019

100

Technology development

Guangzhou Xiaopeng Smart Charging Technology Co., Ltd.

PRC

June 22, 2020

100

Smart charging technology development

Xiaopeng Automobile Central China (Wuhan) Co.,Ltd.(“Wuhan Xiaopeng”)

PRC

April 30, 2021

100

Technology development and vehicle retail

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

PRC

February 12, 2018

100

Technology development

and vehicle retail

XPeng Huitian Holding Limited

BVI

October 12, 2020

100

Investment holding

XPeng Dogotix Holding Limited

BVI

January 05, 2021

100

Investment holding

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 an 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 the whole-unit vehicle industry; or (ii) December 31, 2022.

Effective from January 1, 2022, the PRC foreign investment restrictions in the 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. This transfer did not affect the continued consolidation of financial statements 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
Guangdong Intelligent Insurance Agency Co., Ltd. (“GIIA”, formerly known as Qingdao Miaobao Insurance Agency Co., Ltd.) (Note 1(c)(iii))	PRC	July 22, 2022	Insurance agency
VIEs’ subsidiary
Jiangsu Zhipeng Kongjian Information Technology Co., Ltd. (“Zhipeng Kongjian”, formerly known as Jiangsu Zhitu Technology Co., Ltd., a subsidiary of Xintu Technology) (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 a controlling financial interest under ASC 810 in 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 under U.S. GAAP.

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 9(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 a controlling financial interest under ASC 810 in 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 under U.S. GAAP. As of December 31, 2022, 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 a controlling financial interest under ASC 810 in 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. Accordingly, the Company continued to consolidate the financial results of Zhipeng IoV under U.S. GAAP. As of December 31, 2022, 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 a controlling financial interest under ASC 810 in 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 under U.S. GAAP.

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 a controlling financial interest under ASC 810 in 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. Accordingly, the Company continued to consolidate the financial results of Yidain Chuxing under U.S. GAAP. As of December 31, 2022, Yidian Chuxing did not have significant operations, nor any material assets or liabilities.

(iii) GIIA, primarily engaged in the business of insurance agency services and established in 2007, was acquired by Guangzhou Xuetao Enterprise Management Co., Ltd. (“Guangzhou Xuetao”), a company jointly established by the senior vice president of the Company and his spouse (the “GIIA’s Nominee Shareholders”). On July 22, 2022, Xiaopeng Motors Sales (wholly owned by the Company), Guangzhou Xuetao and GIIA’s Nominee Shareholders entered into a cooperation agreement that Guangzhou Xuetao irrevocably authorized Xiaopeng Motors Sales to exercise the

100%

equity owner’s rights over GIIA. The agreement provides the Company, as the only shareholder of Xiaopeng Motors Sales with a controlling financial interest under ASC 810 in GIIA to direct the activities that most significantly impact GIIA’s economic performance and enable the Company to obtain substantially all of the economic benefits arising from GIIA. As a result of this contractual arrangement, management concluded that GIIA is a VIE of the Company and the Company is the ultimate primary beneficiary of GIIA and shall consolidate the financial results of GIIA in the Group’s consolidated financial statements under U.S. GAAP. As of December 31, 2022, GIIA 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 RMB2,731,985, RMB4,863,096 and RMB9,138,972 for the years ended December 31, 2020, 2021 and 2022, respectively. Accumulated deficit amounted to RMB16,191,566 and RMB25,330,916 as of December 31, 2021 and 2022, respectively. Net cash used in operating activities was approximately RMB139,766, RMB1,094,591 and RMB8,232,376 for the years ended December 31, 2020, 2021 and 2022, 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 further received the net proceeds, after deducting the underwriting discounts and commissions, of HKD15,823,315. As of December 31, 2022, the Group’s balance of cash and cash equivalents, restricted cash, excluding RMB21,901

restricted as to withdrawal or use for legal disputes, short-term deposits, short-term investments and current portion of long-term deposits was

RMB31,303,428.

Management has concluded that its existing balance of cash and cash equivalents, short-term deposits, short-term investments and current portion of long-term deposits as of December 31, 2022, provide the Group with sufficient liquidity to meet its working capital requirements and contractual (including debt) obligations for the next twelve months following 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.

Summary of Significant Accounting Policies

12 Months Ended

Dec. 31, 2022

Summary of Significant Accounting Policies

2.	Summary of Significant Accounting Policies

(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.

(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, useful lives and residual values of long-lived assets and finite-lived 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 model 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.

(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 income or loss in the consolidated statements of comprehensive loss, and the accumulated currency translation adjustments are presented as a component of accumulated other comprehensive income or loss in the consolidated statements of changes in shareholders’ (deficit) equity.

(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, finance lease liabilities, operating lease liabilities, accruals and other liabilities, derivative liabilities and long-term borrowings. As of December 31, 2021 and 2022, the carrying values of these financial instruments, except for other

non-current

assets,

non-current

portion of long-term deposits,

non-current

portion of long-term borrowings, and

non-current

portion of 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, equity investments with readily determinable fair values, debt investments that are accounted for under the fair value option model and derivative assets or liabilities.

Equity investments with readily determinable fair values (Note 12) are valued 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.

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 model (Note 12) and derivative liabilities relating to the redemption right that meet the definition of a derivative (Note 21), which are initially measured at fair value with changes in fair value in the subsequent periods recognized through earnings. Such debt investments and derivative liabilities 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 Group has adopted certain valuation techniques using unobservable inputs to measure their respective fair values.

(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, 2021				As of December 31, 2022
	Amount		RMB equivalent		Amount		RMB equivalent
Cash and cash equivalents:
RMB		8,513,644		8,513,644		13,230,745		13,230,745
US$		281,083		1,788,100		194,588		1,355,226
HKD		852,743		695,738		9,256		8,268
Others		not applicable		27,424		not applicable		13,535

Total				11,024,906				14,607,774

As of December 31, 2021 and 2022, 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.

(g)	Restricted cash

Restricted cash primarily represents bank deposits for letters of

guarantee

, bank notes, forward exchange contracts and others amounted to RMB600,058 and RMB84,371 as of December 31, 2021 and 2022, respectively. In addition, restricted cash includes certain deposits, amounting to RMB9,917 and RMB21,901 as of December 31, 2021 and 2022, 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, 2021 and 2022, substantially all of the Group’s short-term deposits amounting to RMB25,858,007 and RMB14,921,688, respectively, had been placed in reputable financial institutions in the PRC.

Long-term deposits 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 years presented. As of December 31, 2021 and 2022, substantially all of the Group’s long-term deposits amounting to RMB3,217,266 and RMB7,353,916, respectively, had been placed in reputable financial institutions in the PRC, out of which, nil and RMB427,466 will be due within one year and are classified to “Long-term deposits, current portion”, respectively.

(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, 2021 and 2022, the Group recorded RMB10,039, RMB69,731 and RMB67,654 in expected credit loss expense in selling, general and administrative expenses, respectively. As of December 31, 2021, the expected credit loss provision recorded in current and

non-current

assets were RMB34,198 and RMB32,898, respectively. As of December 31, 2022, the expected credit loss provision recorded in current and

non-current

assets were RMB67,181 and RMB54,526, 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, 2021 and 2022, 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.

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, 2021 and 2022 :


	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


	For the Year Ended
	December 31, 2022

Balance as of December 31, 2021		67,096
Current period provision		67,654
Write-offs		(13,043	)

Balance as of December 31, 2022		121,707

(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 RMB2,833,763 and RMB1,262,129 as of December 31, 2021 and 2022, respectively.

(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 RMB92,612, RMB162,433 and RMB220,319 were recognized in cost of sales for the years ended December 31, 2020, 2021 and 2022, respectively.

(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 lives of the assets. Leasehold improvements are depreciated over the shorter of the lease terms or the estimated useful lives, which range from two to ten years, of the related assets. Residual 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 molds and toolings 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 RMB6,167, RMB36,508 and RMB15,682 were recognized in operating expenses during the years ended December 31, 2020, 2021 and 2022, respectively.

(m)	Intangible assets, net

Intangible assets consist of manufacturing license, surveying and mapping qualification, insurance agency 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, insurance agency qualification and license plates as of December 31, 2022. No useful life was determined in the contract terms when the Group acquired the manufacturing license, surveying and mapping qualification, insurance agency qualification and license plates. The Group expects that such intangible assets are unlikely to be terminated and will continue to be renewed as a matter of course 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 annually as of each balance sheet date 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 sales performance, the stable macroeconomic conditions in China and the Group’s future manufacturing plans, the Company determined that it is not likely that the manufacturing license, surveying and mapping qualification certificate, insurance agency qualification certificate and license plates were impaired as of December 31, 2021 and 2022. As such, no impairment of indefinite-lived intangible assets was recognized for the years ended December 31, 2020, 2021 and 2022.

(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

49.5 to

50 years that represent the terms of land use rights certificate.

(o)	Long-term investments

Equity Method Investments

The Group applies the equity method to

account

for its equity investments, according to ASC 323 “Investments — Equity Method and Joint Ventures”, over which it has significant influence but does not own a controlling financial interest.

Under the equity method, the Group initially records its investments at fair value. The Group subsequently adjusts the carrying amount of the investments to recognize the Group’s proportionate share of each equity investee’s net income or loss into earnings after the date of investment.

The Group continually reviews its investments in equity method investees to determine whether a decline in fair value below the carrying value is other-than-temporary. The primary factors the Group considers in its determination include current economic and market conditions, the financial condition and operating performance of the equity method investee, and other company specific information.

The Group’s long-term investments also include other 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 model 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 model 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 model 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.

(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 the 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.

(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.

(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 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. A customer can subscribe for XPILOT by either making a lump sum payment or paying annual installments over a three-year period, or purchasing a vehicle equipped with XPILOT. Revenue related to XPILOT is recognized at a point in time when intelligent driving functionality of XPILOT is delivered 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, auto financing services and others.

Revenue from services embedded in a sales contract included 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, technical support services and second-hand vehicle sales service. These services are recognized 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 standalone 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 standalone 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 and others. 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 30 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 standalone 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 standalone 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 standalone 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 standalone 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. As of December 31, 2022, the

trade-in

program has been closed. If the owners of G3 2019, who elected the

trade-in

right, did not sign the

trade-in

contracts or reach an additional agreement with the Group in 2022, the

trade-in

right will be expired.

(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.

(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, 2020, 2021 and 2022, R&D expenses were RMB1,725,906, RMB4,114,267 and RMB5,214,836

respectively.

(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, 2020, 2021 and 2022, advertising costs were RMB517,135, RMB873,256 and RMB577,569, respectively, and total sales and marketing expenses were RMB1,737,765, RMB4,276,366 and RMB5,028,958, 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, 2020, 2021 and 2022, general and administrative expenses were RMB1,182,884, RMB1,029,067 and RMB1,659,288, respectively.

(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. There are no forfeited contribution that may be used by the Group as the employer to reduce the existing level of contributions. Total amounts of such employee benefit expenses, which were expensed as incurred, were approximately RMB152,361, RMB466,444 and RMB766,915 for the years ended December 31, 2020, 2021 and 2022, respectively.

(w)	Government grants

Government grants 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. Government grants relating to interest expense (not capitalized) are initially recognized as other

non-current

liabilities if the amount is received in advance (of the incurrence of interest expense). Such amounts would then reduce related interest expense when incurred.

Government grants relating to the purchase or construction of property, plant and equipment and intangible assets that are received in advance are included in other

non-current

liabilities and are credited to profit or loss on a straight-line basis over the expected lives of the related assets.

Government grants requiring the performance of certain other business related activities or other required conditions are deferred and recognized in profit or loss when all applicable conditions have been met.

Nonrefundable grants received without further performance or conditions are recognized immediately as other income upon receipt.

(x)	Other income, net

For the year ended December 31, 2020, other income, net mainly represents other subsidies that are recognized upon receipt in profit or loss of 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 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).

For the year ended December 31, 2022, other income, net mainly represents other subsidies that are recognized upon receipt in profit or loss of RMB109,168, as further performance by the Group is not required.

(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, 2020, 2021 and 2022. As of December 31, 2021 and 2022, the Group did not have any significant unrecognized uncertain tax positions.

(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 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 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 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.

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.

(aa)	Statutory reserves

The Group’s subsidiaries and the 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,

2020, 2021 and 2022, appropriations to the general reserve fund and the statutory surplus fund amounted to nil, RMB6,047 and RMB378, respectively.

(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 income or loss, which primarily consists of the foreign currency translation adjustment that has been excluded from the determination of net loss.

(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

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 recognized lease assets and lease liabilities related to substantially all of the Group’s lease arrangements in the consolidated balance sheets. Operating lease assets are included within “Land use rights, net” and

“Right-of-use

assets, net”, and the corresponding operating lease liabilities are included within “Operating lease liabilities, current portion” for the current portion, and within “Operating lease liabilities” for the long-term portion on the consolidated balance sheets as of December 31, 2021 and 2022. Finance lease assets are included within “Property, plant and equipment, net” and the corresponding finance lease liabilities are included within “Finance lease liabilities, current portion” for the current portion, and within “Finance lease liabilities” for the long-term portion on the consolidated balance sheets as of December 31, 2021 and 2022.

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. The incremental borrowing rate is a hypothetical rate based on the Group’s understanding of what its credit rating would be to borrow and resulting interest the Group would pay to borrow an amount equal to the lease payments in a similar economic environment over the lease term on a collateralized basis.

(b) As a lessor

The Group provides vehicle leasing services 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.

The vehicle leasing income was immaterial for the years ended December 31, 2020, 2021 and 2022, respectively.

(ad)

Dividend

Dividends are recognized when declared. No dividend was declared for the years ended December 31, 2020, 2021 and 2022, respectively.

(ae)	Earnings (losses) per share

Basic earnings (losses) per share is computed by dividing net income (loss) attributable to holders of ordinary shares, considering the accretion on Preferred Shares to redemption value, 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 (losses) 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 unvested RSUs. 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.

(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 segment geographical information is presented.

Recent Accounting Pronouncements

12 Months Ended

Dec. 31, 2022

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, to remove specific exceptions to the general principles in Topic 740 and to simplify accounting for income taxes. The standard is 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 standard clarifies 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 standard is effective for fiscal years beginning after December 15, 2020, and interim periods within those fiscal years. For all other entities, the standard is 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.

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 standard 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 standard 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 Group adopted the ASU on January 1, 2022, which did not 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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Fair Value of Financial Instruments

Concentration and Risks

12 Months Ended

Dec. 31, 2022

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 investments. The maximum exposure of such assets to credit risk is their carrying amounts as of the balance sheet dates. As of December 31, 2021 and 2022, 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 overseas 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.

Fair Value of Financial Instruments

12 Months Ended

Dec. 31, 2022

Fair Value Disclosures [Abstract]

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 measurements on a recurring basis

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


	As of December 31, 2021								As of December 31, 2022
	Fair Value		Level I		Level II		Level III		Fair Value		Level I		Level II		Level III

Assets
Short-term investments (i) (Note 2(j))		2,833,763		—		2,833,763		—		1,262,129		—		1,262,129		—
Debt investments (ii) (Note 12)		1,338,822		—		—		1,338,822		1,626,131		—		—		1,626,131
Equity investments with readily determinable fair values (iii) (Note 12)		—		—		—		—		112,641		112,641		—		—

		4,172,585		—		2,833,763		1,338,822		3,000,901		112,641		1,262,129		1,626,131

Liabilities
Derivative liabilities – forward exchange contract (Note 14)		48,605		—		48,605		—		—		—		—		—

(i) Short-term investments are investments in financial instruments with variable interest rates and maturity dates within one year. Fair value of short-term investments is estimated based on the quoted prices of similar financial products provided by banks at the end of each period (Level II).

(ii) Debt investments do not have readily determinable market values and are categorized as Level III in the fair value hierarchy. The Group uses a combination of valuation methodologies, including the equity allocation model, market and income approaches based on the Group’s best estimate, which are 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.

(iii) Equity investments with readily determinable fair values are valued 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.

Fair value measurements on a

non-recurring

basis

The Group measures investments without readily determinable fair value on a

non-recurring

basis when fair value changes can be determined based upon observable and relevant market information. Related adjustments (impairment related) are recorded as appropriate based upon such observable information. 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, which are significant unobservable inputs (Level III).

Prepaid Expense and Other Assets, Current [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

Inventory

12 Months Ended

Dec. 31, 2022

Inventory Disclosure [Abstract]

Inventory

Inventory consisted of the following:


	As of December 31,
	2021		2022
Finished goods		1,042,719		3,059,567
Raw materials		1,605,197		1,449,596
Work-in-process		14,005		12,210

Total		2,661,921		4,521,373

Raw materials primarily consist of materials for volume production.

Work-in-process

primarily consist of vehicles 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, 2020, 2021 and 2022, write-downs of inventories to net realizable value amounted to RMB92,612, RMB162,433 and RMB220,319, respectively, which were recognized in cost of sales.

Prepayments and Other Current Assets

12 Months Ended

Dec. 31, 2022

Prepayments and Other Current Assets

7.	Prepayments and Other Current Assets

Prepayments and other current assets consisted of the following:


	As of December 31,
	2021		2022
Deductible input value-added tax		484,257		1,359,581
Prepayments		1,300,805		587,289
Deposits		83,939		92,023
Receivables from third party online payment service providers		78,620		38,201
Others		301,062		388,990

Total		2,248,683		2,466,084

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.

Property, Plant and Equipment, Net

12 Months Ended

Dec. 31, 2022

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,
	2021			2022
Construction in process (i)		1,760,259			3,858,358
Machinery and equipment		1,123,512			2,589,709
Buildings (ii)		860,556			2,206,923
Molds and toolings		1,178,385			1,505,876
Vehicles		717,976			867,434
Leasehold improvements		376,219			681,341
Charging infrastructure		262,678			369,994
Computer and electronic equipment		147,273			282,082
Others		93,950			130,864

Sub-total		6,520,808			12,492,581

Less: Accumulated depreciation		(1,002,246	)		(1,788,193	)
Less: Impairment (iii)		(93,786	)		(97,643	)

Property, plant and equipment, net		5,424,776			10,606,745

The Group recorded depreciation expenses of RMB302,974, RMB573,247 and RMB915,481 for the years ended December 31, 2020, 2021 and 2022, respectively.

(i)

Construction in progress primarily consists of the construction of Wuhan, Guangzhou and Zhaoqing manufacturing plants and molds, toolings, machinery and equipment relating to the manufacturing of the Group’s vehicles. During the years ended December 31, 2020, 2021 and 2022, the Group capitalized RMB26,351, RMB10,598 and RMB84,998 of gross interest expenses, respectively. Government grants 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 grants will be reflected through reduced depreciation charges over the useful lives of these assets. Government grants 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 September 2022, the construction of the first phase of Guangzhou manufacturing equipments had been completed and transferred to respective fixed assets.

(ii)

The Group entered into a lease contract with Guangzhou GET New Energy Technology Co., Ltd. (“Guangzhou GET New Energy”) to lease the plant and underlying land use right of Guangzhou manufacturing plant and further had an obligation to purchase the plant and underlying land use right at the construction cost at the end of lease term. On July 1, 2022, the lease commencement date, the lease asset for the plant was recorded with the amount

RMB1,001,820

, being the present value of the lease payment and the exercise price of the purchase obligation (Note 17).

(iii)

The accumulated impairment loss was RMB93,786 and RMB97,643 as of December 31, 2021 and 2022, respectively, primarily due to the upgrade of vehicles.

Intangible Assets, Net

12 Months Ended

Dec. 31, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets, Net

9.	Intangible Assets, Net

Intangible assets, net consisted of the following:


	As of December 31, 2021							As of December 31, 2022
	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization			Impairment Amount (iv)			Net Carrying Amount
Finite-lived intangible assets
Software		158,589		(55,052	)		103,537		389,409		(120,766	)		(26,418	)		242,225
License of maintenance and overhauls		2,290		(2,290	)		—		2,290		(2,290	)		—			—

Total finite-lived intangible assets		160,879		(57,342	)		103,537		391,699		(123,056	)		(26,418	)		242,225

Indefinite-lived intangible assets
Manufacturing license (i)		494,000		—			494,000		494,000		—			—			494,000
Surveying and mapping qualification (i i )		250,000		—			250,000		250,000		—			—			250,000
Others (iii)		31,187		—			31,187		56,747		—			—			56,747

Total indefinite-lived intangible assets		775,187		—			775,187		800,747		—			—			800,747

Total intangible assets		936,066		(57,342	)		878,724		1,192,446		(123,056	)		(26,418	)		1,042,972

The Group recorded amortization expenses of RMB20,169, RMB25,875 and RMB65,714 for the years ended December 31, 2020, 2021 and 2022, respectively.

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


Within 1 year			117,926
Between 1 and 2 years			88,829
Between 2 and 3 years			22,783
Between 3 and 4 years			9,226
Between 4 and 5 years			2,283
Thereafter			1,178

Total			242,225

(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, 2021 and 2022.

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

On May 20, 2021, Xintu Technology, a VIE of the Group entered into a restructuring agreement to acquire 100% of the equity interests of Zhipeng Kongjian at a cash consideration of RMB250 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 (an intangible asset) 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 continually 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 and 2022.

(iii) As of December 31, 2022, other indefinite-lived intangible assets included license plate amounting to RMB

34,747

and insurance agency qualification amounting to RMB

22,000

. As of December 31, 2021, other indefinite-lived intangible assets included license plate amounting to RMB31,187.

(iv) A full impairment loss of RMB26,418 was recognized for the year ended December 31, 2022, primarily due to the phase out of certain software.

Land Use Rights, Net

12 Months Ended

Dec. 31, 2022

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,
	2021			2022
Land use rights		620,065			2,822,757
Less: Accumulated amortization		(24,594	)		(74,903	)

Total land use rights, net		595,471			2,747,854

For the years ended December 31, 2021 and 2022, the Group acquired land use rights of RMB355,179 and RMB2,202,692, respectively, to build plants and buildings in Zhaoqing and Guangzhou of Guangdong province, and Wuhan of Hubei province, the PRC, for its manufacturing of vehicles and daily operation.

The Group entered into a lease contract with Guangzhou GET New Energy to lease the plant and underlying land use right of Guangzhou manufacturing plant and further had an obligation to purchase the plant and underlying land use right at the construction cost at the end of lease term. On July 1, 2022, the lease commencement date, the right of use asset for the land was recorded with the amount

f RMB389,508

being the present value of the lease payment and the exercise price of the purchase obligation (Note 17).

The Group recorded amortization expenses for land use rights of RMB5,323, RMB9,642 and RMB50,309 for the years ended December 31, 2020, 2021 and 2022, respectively.

Installment Payment Receivables, Net

12 Months Ended

Dec. 31, 2022

Lessor Disclosure [Abstract]

Installment Payment Receivables, Net

11.	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,
	2021		2022
Current portion of installment payment receivables, net		887,202		1,294,665
Non-current portion of installment payment receivables, net		1,863,492		2,188,643

Total		2,750,694		3,483,308

The Group recognized interest income resulting from installment payment sales of RMB17,115, RMB89,895 and RMB204,765 for the years ended December 31, 2020, 2021 and 2022, respectively.

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, 2022, an allowance for credit losses of RMB88,144 had been provided for the current portion of installment payment receivables of RMB1,328,283 and long-term portion of installment payment receivables of RMB2,243,169.

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,
	2022
Within 1 year		1,511,239
Between 1 and 2 years		1,084,424
Between 2 and 3 years		744,784
Between 3 and 4 years		482,688
Between 4 and 5 years		161,313
Thereafter		5,298

Total receivables of installment payments		3,989,746

Less: Unrealized finance income		(418,294	)

Installment payment receivables, gross		3,571,452
Less: Allowance for installment payment receivables		(88,144	)

Installment payment receivables, net		3,483,308

Long-Term Investments

12 Months Ended

Dec. 31, 2022

Long-term Investments [Abstract]

Long-Term Investments

12.	Long-term investments

Long-term investments consisted of the following:


	Equity investments without readily determinable fair values (i)			Equity investments with readily determinable fair values (ii)		Debt investments (iii)			Equity method investments (iv)		Total
Balance at December 31, 2020		1,000			—		—			—		1,000
Additions		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


	Equity investments without readily determinable fair values (i)			Equity investments with readily determinable fair values (ii)			Debt investments (iii)			Equity method investments (iv)		Total
Balance at December 31, 2021		210,354			—			1,338,822			—		1,549,176
Additions		—			191,981			209,451			329,045		730,477
Fair value change through earnings		95,752			(78,282	)		7,592					25,062
Share of results of equity method investees (iv)											4,117		4,117
Changes from equity investment to debt investment (iii)		(116,129	)		—			116,129			—		—
Disposals (Note 26(5))		—			—			(165,000	)		—		(165,000	)
Foreign currency translation		1,023			(1,058	)		119,137			32,098		151,200

Balance at December 31, 2022		191,000			112,641			1,626,131			365,260		2,295,032

(i) Equity investments without readily determinable fair values

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) Equity investments with readily determinable fair values

In December 2021, the Group prepaid RMB50,000 as a subscription for a minority equity interest in common shares of a company engaged in research, development, production and sales of semiconductors, which was converted into common shares in January 2022

(Note 13(iii)).

In October 2022, the Group paid HKD156,982 (equivalent to RMB141,981 as of the injection date) to acquire a minority equity interest in common shares of a company engaged in research, development, production and sales of batteries for new energy vehicles.

The minority equity interests in common shares have readily determinable fair values because the investees are listed companies and the Group does not have the ability to exercise significant influence over these investments. Accordingly, the Group accounted for them at fair value based on the quoted prices in active markets.

(iii) Debt investments

Investment in HT 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, equivalent 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 model.

(iii) Debt investments (continued)

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 (“Dogotix’s Series Angel preferred shares”), 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.

In October 2021, the Group acquired Dogotix’s convertible bonds in the amount of US$6,440 (equivalent to RMB41,258 as of the injection date) and elected to account for this investment at fair value option model.

In July 2022, the Group further invested US$14,000 (equivalent to RMB94,451 as of the injection date) into Dogotix’s preferred shares during its A round of fund raising (“Dogotix’s Series A preferred shares”). Concurrently, Dogotix’s Series Angel preferred shares previously acquired by the Group in 2021 were modified to align with the terms of the newly invested Dogotix’s Series A preferred shares. The Group concluded that both Dogotix’s Series Angel and Series A preferred shares investment are debt securities since Dogotix’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 addition, the convertible bond (acquired in October 2021) held by the Group in Dogotix was converted into Series A preferred shares in

July

2022 and accounted

for

as debt investments under the fair value option model.

In anticipation of the change in accounting model applicable to Dogotix’s Series Angel preferred shares as a result of the modification, the Group opted to change its measurement accounting policy relating to Dogotix’s Series Angel preferred shares as permitted by ASC 321, and elected to measure the original Dogotix’s Series Angel preferred shares at fair value immediately before the modification (discussed in the preceding paragraph). The difference of RMB95,752 between the carrying value and the fair value of Dogotix’s Series Angel preferred shares immediately before the modification was recognized in earnings. The Group then reclassified Dogotix’s Series Angel preferred shares amounting to RMB116,129 from equity securities to debt securities upon the modification. The modified Dogotix’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.

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. Subsequently, the Group disposed of this debt investment for a cash consideration of RMB100,000 to a related party in April 2022 (Note 26(5)).

In January 2022, the Group acquired minority preferred equity interests of a company engaged in research, development , production and sales of semiconductors for a total cash consideration of RMB65,000. Subsequently, the Group disposed of this debt investment for a cash consideration of RMB65,000 to a related party in October 2022 (Note 26(5))

In April 2022

the Group acquired minority preferred equity interests of a company engaged in research, development, production and sales of batteries for new energy vehicles for a total cash consideration of RMB50,000.

The preferred shares held by the Group in connection with above each investment are debt securities as they become redeemable merely by the passage of time and are redeemable at the option of the Group as a holder. Accordingly, the Group elected to account for these investments under the fair value option model.

(iv) Equity Method Investments

In March 2022, the Company and other third party investors jointly set up an offshore investment fund (“Fund”), named Rockets Capital L.P, for the purpose of making investments in companies and businesses engaging in high technology sectors. The Company subscribed for a commitment of US$150,000 and invested consideration of US$51,874 (equivalent to RMB329,045 as of the injection date) into the Fund and currently holds a 60.7% financial interests in the Fund as a limited partner while the other 39.3% financial interests are held by other third party investors as of December 31, 2022.

Based on the Company’s assessment under ASC

810-10-15-14,

the investment fund (a limited partnership) is considered to be a VIE for accounting purposes. The Company is not considered the primary beneficiary of the investment due to the fact that the Company does not possess the power to direct activities of the Fund that would mostly impact its economics performance. As a result, the Company accounts for its 60.7% financial interest

in the Fund using the equity method of accounting pursuant to ASC

323-30

considering that the Company has significant influence over the operating and investing activities of the Fund.

Other Non-current Assets

12 Months Ended

Dec. 31, 2022

Other Assets, Noncurrent [Abstract]

Other Non-current Assets

13.	Other Non-current Assets

Other

non-current

assets consisted of the following:


	As of December 31,
	2021		2022
Long-term deposits (i)		128,791		151,914
Prepayments for purchase of property and equipment		20,888		47,258
Prepayment for purchase of land use rights (ii)		1,507,170		—
Prepayments for subscription of equity securities (iii)		50,000		—
Others		23,637		2,099

Total		1,730,486		201,271

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

(ii) As of December 31,

2021, prepayment for purchase of land use rights represents the cash considerations paid to acquire the land use rights for the construction of certain buildings. Subsequently, the balance was transferred and recorded as a land use right asset after the relevant legal certificate was obtained in January 2022.

(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 (Note 12(ii)).

Accruals and Other Liabilities

12 Months Ended

Dec. 31, 2022

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,
	2021		2022
Payables for purchase of property, plant and equipment		843,732		1,624,432
Payables for R&D expenses		939,488		1,023,344
Employee compensation payable s		810,730		729,806
Payables for marketing events		679,120		483,059
Accrued expenses		364,647		417,396
Deposits from third parties		241,468		386,412
Warranty provisions		105,068		216,260
Advance from customers		208,281		113,730
Tax payable s		73,755		51,147
Interest payables		54,191		39,082
Refundable deposit from customers		18,752		26,806
Debt from a third party investor (i)		106,596		—
Derivative liabilities (Note 5)		48,605		—
Others		316,674		472,355

Total		4,811,107		5,583,829

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, 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 amounting to RMB10. Based on such arrangements, the Group consolidated Kunpeng Kechuang LLP. The investments by Industrial Fund and Shenzhen Antuo was accounted for as a liability because liability classification is required when the Group enters into a purchased call and written put with the third party investor, 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. In September 2022, the Group repaid the principal amounting to RMB98,000 and related interest amounting to RMB9,516, and then Industrial Fund exited.

Borrowings

12 Months Ended

Dec. 31, 2022

Debt Disclosure [Abstract]

Borrowings

15.	Borrowings

Borrowings consisted of the following:


	As of December 31,
	2021		2022
Current
Short-term borrowings:
Bank loans (i)		—		2,419,210

Long-term borrowings, current portion:
Bank loans (ii)		—		124,500
Asset-backed securities (iii)		—		637,359

Total current borrowings		—		3,181,069

Non-Current
Long-term borrowings:
Bank loans (ii)		1,575,106		4,328,880
Other loans (ii)		100,000		100,000
Asset-backed securities (iii)		—		184,177

Total non-current borrowings		1,675,106		4,613,057

Total borrowings		1,675,106		7,794,126

(i) Short-term bank loans

As of December 31, 2021, the Group had no short-term borrowings. As of December 31, 2022, the Group had short-term borrowings from banks in the PRC of RMB2,419,210 in aggregate. The effective interest rate of these borrowings was 3.53% per annum.

(ii) Long-term bank and other loans

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, 2021, the loan was fully 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, 2021 and 2022, the effective interest rate of the RMB800,000 loans from Zhaoqing High-tech Zone and the RMB800,000 bank loans was 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. In 2021, the principal amount of RMB700,000 from Zhaoqing High-tech Zone had been repaid before the original due date. And the remain

g loans would be repaid according to the repayment schedule.

Moreover, the Group received subsidies from the local government for interest expenses incurred associated with the borrowings. For the years ended December 31, 2020, 2021 and 2022, 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 a result, the balance of the loans due to Zhaoqing High-tech Zone amounted to RMB100,000 as of December 31, 2021 and 2022. And the bank

loa

ns amounted to RMB792,000 and RMB784,000 as of December 31, 2021 and 2022, respectively. As of December 31, 2022, the principal amount of RMB8,000 of the bank loans will be due within one year and was classified to ”Long-term borrowings, current portion”.

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 and 2022, RMB408,446 and RMB797,980 had been drawn from the bank with an effective interest rate of 5.42% and 5.30% per annum, respectively. For the years ended December 31, 2021 and 2022, the Group recognized the subsidies to reduce the interest expenses capitalized in the construction costs of Guangzhou manufacturing plant or to reduce the related interest expenses as incurred, upon the acceptance of subsidy application by the local government, if any.

In September 2021, Wuhan Xiaopeng 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 and 2022, RMB374,660 and RMB1,706,400 had been drawn from the banks with an effective interest rate of 4.65% and 4.35% per annum, respectively. For the years ended December 31, 2021 and 2022, 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.

In September 2022, Zhaoqing XPeng and Zhaoqing Xiaopeng New Energy obtained facilities, specified for financing the expenditures of operations, from a bank in the PRC. As of December 31, 2022, RMB768,000 and RMB397,000 had been drawn from the bank with effective interest rates of 3.35% and 3.35% per annum, respectively, among which RMB76,800 and RMB39,700 will be due within one year and were classified to ”Long-term borrowings, current portion”.

Certain of the Group’s banking facilities are subject to the fulfillment of certain financial covenants, including 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, 2021 and 2022, none of the covenants relating to drawn down facilities had been breached. Certain long-term bank loans are collateralized by a pledge of certain buildings and land use rights in the PRC with carrying values of RMB887,687 and RMB846,854 as of December 31, 2021 and 2022, respectively.

(iii) Asset-backed securities (“ABS”)

In February and November 2022, the Group entered into asset-backed securitization arrangements with third-party financial institutions and set up two securitization vehicles to issue senior debt securities to third party investors, which are collateralized by installment payment receivables (the “transferred financial assets”). The Group also acts as a servicer to provide management, administration and collection services on the transferred financial assets and has the power to direct the activities that most significantly impact the securitization vehicles. The economic interests are retained by the Group in the form of subordinated interests as well as its obligation to absorb losses under certain circumstances. As a result, the Group consolidated the securitization vehicles. The proceeds from the issuance of debt securities are reported as securitization debt. The securities are repaid as collections on the underlying collateralized assets occur and the amounts are included in “Long-term borrowings,

current portion” or “Long-term borrowings” according to the contractual maturities of the debt securities. As of December 31, 2022, the balance of current and

non-current

portion of ABS were RMB637,359 and RMB184,177, respectively.

The carrying value of the borrowings approximates its fair value as of December 31, 2021 and 2022, respectively. 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.

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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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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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Other Liabilities, Noncurrent [Abstract]

Other Non-Current Liabilities

12 Months Ended

Dec. 31, 2022

Other Non-Current Liabilities

16.	Other Non-Current Liabilities

Other

non-current

liabilities consisted of the following:


	As of December 31,
	2021		2022

Debt from third party investors (i)		1,708,062		1,763,062
Government grants		174,005		318,242
Warranty provisions (ii)		266,072		424,802

Total		2,148,139		2,506,106

(i) The debt from third party investors consisted of the following three 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 interests, 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 in Kunpeng Chuangye LLP nor it is 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 in 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 interests 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 and RMB6,233 as of December 31, 2021 and 2022, respectively. The interest of RMB6,400 was repaid to Guangzhou GET Investment by the Group before the original due date during the year ended December 31, 2022.

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 began 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 public 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 in 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 and RMB26,856 as of December 31, 2021 and 2022, respectively.

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 in 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 and RMB69,973 as of December 31, 2021 and 2022, respectively.

(ii) Movement of accrued warranty is as following:


	For the Year Ended December 31,
	2020			2021			2022

Accrued warranty - beginning of year		34,597			111,351			371,140
Warranty costs incurred		(925	)		(32,352	)		(61,551	)
Provision for warranty		77,679			292,141			331,473

Accrued warranty - end of year		111,351			371,140			641,062
Less: Current portion of warranty		(31,594	)		(105,068	)		(216,260	)

Non-current portion of warranty		79,757			266,072			424,802

Leases

12 Months Ended

Dec. 31, 2022

Leases Disclosure [Abstract]

Leases

17.

Leases

As a lessee

The Group has entered into various operating lease agreements for certain land use rights, 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. In 2022, the Group also entered into a finance lease agreement for the Guangzhou manufacturing plant. The Group determines if an arrangement is a lease, or contains a lease, at inception and records 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 Group entered into a cooperation agreement and supplementary agreements (collectively “Guangzhou Cooperation Agreements”) in September 2020 and June 2021 for the establishment of the Group’s Guangzhou manufacturing plant with Guangzhou GET Investment and Guangzhou GET New Energy. Pursuant to Guangzhou Cooperation Agreement, the Group intends to construct a new Smart EV manufacturing base which houses a broad range of functions, including research and development, manufacturing, vehicle testing and sales.

The Group entered into a lease contract with Guangzhou GET New Energy to lease the plant and underlying land use right of Guangzhou manufacturing plant with an annual lease payment

RMB57,900 from

July 2022

to June 2029, and further obtained an obligation to purchase the plant and underlying land use right at the construction cost of RMB1,300,000 at the end of lease term. Further construction cost amounting to RMB183,555 will be paid subsequently according to the payment schedule. The lease payment made before the lease commencement date was RMB60,443. The initial direct cost made and the incentive received on or before the lease commencement date were immaterial.

The lease of the land use right or a purchased land use right can only be classified as an operating lease under U.S. GAAP. As the Group has an obligation to purchase the plant at cost and the assets are designed for the use of the Group, so the obligation is reasonably certain to be exercised, and accordingly, the lease of the plant was classified as a finance lease and recognized as property, plant and equipment of the Group. Therefore, on the lease commencement date, the land use right and property, plant and equipment for the plants amounted

RMB389,508 and RMB1,001,820, respectively, being the present value of the lease payment and the exercise price of the purchase obligation.

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


	As of December 31,
Operating lease	2021		2022
Land use rights, net		—		393,561
Right-of-use assets, net		1,561,175		1,954,618

Total operating lease assets		1,561,175		2,348,179

Operating lease liabilities - current		373,488		490,811
Operating lease liabilities - non current		1,189,754		1,854,576

Total operating lease liabilities		1,563,242		2,345,387


	As of December 31,
Finance lease	2021		2022
Property, plant and equipment, at cost		—		1,001,820
Accumulated depreciation		—		(25,046	)

Property, plant and equipment, net		—		976,774

Finance lease liabilities - current		—		128,279
Finance lease liabilities - non current		—		797,743

Total finance lease liabilities		—		926,022

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


	For the Year Ended December 31,
	2020		2021		2022
Operating lease expense:
Operating lease expense		125,867		340,744		595,032
Short-term lease expense		30,201		102,901		265,800

Total operating lease expenses		156,068		443,645		860,832

Finance lease expense:
Amortization expense		—		—		25,046
Interest expense		—		—		22,846

Total finance lease expenses		—		—		47,892

Total lease expenses		156,068		443,645		908,724

Short-term leases primarily consist of the parking areas and

pop-up

stores leases with a term of 12 months or less.

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

Interest expense on finance lease liabilities is recognized over the lease term as “Interest expenses”.

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


	For the Year Ended December 31,
	2020			2021			2022
Weighted-average remaining lease term
Operating leases		4.0 years			5.3 years			5.1 years
Finance leases		—			—			6.6 years
Land use rights		—			—			49.5 years
Weighted-average discount rate
Operating leases		4.43	%		4.71	%		4.78	%
Finance leases		—			—			4.90	%
Land use rights		—			—			4.90	%

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,
	2020		2021		2022
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash outflows from operating leases		132,440		289,456		486,260
Operating cash outflows from finance leases (interest payments)		—		—		22,846
Financing cash outflows from finance leases		—		—		15,355
Leased assets obtained in exchange for operating lease liabilities		130,560		1,329,021		1,162,151
Leased assets obtained in exchange for finance lease liabilities		—		—		1,001,820

As of December 31, 2022, the maturities of the Group’s lease liabilities (excluding short-term leases) are as

follows:


	As of December 31,
	2022
	Finance Lease			Operating Lease
Within 1 year		184,626			593,383
Between 1 and 2 years		59,371			425,187
Between 2 and 3 years		31,767			322,100
Between 3 and 4 years		31,767			291,060
Between 4 and 5 years		34,835			210,323
Thereafter		857,722			930,901

Total minimum lease payments		1,200,088			2,772,954
Less: Interest		(274,066	)		(427,567	)

Present value of lease obligations		926,022			2,345,387
Less: Current portion		(128,279	)		(490,811	)

Non - current portion of lease obligations		797,743			1,854,576

Revenues

12 Months Ended

Dec. 31, 2022

Revenue from Contract with Customer [Abstract]

Revenues

18.

Revenues

Revenues by source consisted of the following:


	For the Year Ended December 31,
	2020		2021		2022
Vehicle sales		5,546,754		20,041,955		24,839,637
Services and others		297,567		946,176		2,015,482

Total		5,844,321		20,988,131		26,855,119

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 https://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 https://asc.fasb.org/extlink&oid=126920106&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 https://asc.fasb.org/extlink&oid=126920106&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 https://asc.fasb.org/extlink&oid=126920106&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 https://asc.fasb.org/extlink&oid=126920106&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 https://asc.fasb.org/extlink&oid=126920106&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 https://asc.fasb.org/extlink&oid=126920106&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 https://asc.fasb.org/extlink&oid=126920106&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 https://asc.fasb.org/extlink&oid=126920106&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 https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045

Deferred Revenue Disclosure [Abstract]

Deferred Revenue

12 Months Ended

Dec. 31, 2022

Deferred Revenue

19.	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,
	2020			2021			2022
Deferred revenue - beginning of year		85,498			308,384			897,288
Additions		5,297,728			19,339,153			24,344,226
Recognition		(5,074,842	)		(18,750,249	)		(24,158,265	)

Deferred revenue - end of year		308,384			897,288			1,083,249
Less: Deferred revenue, current portion		(163,617	)		(418,227	)		(389,243	)

Deferred revenue, non-current portion		144,767			479,061			694,006

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 RMB308,384, RMB897,288 and RMB1,083,249 as of December 31, 2020, 2021 and 2022, respectively.

The Group expects that 36% of the transaction price allocated to unsatisfied performance obligations which were accounted for as deferred revenue as of December 31, 2022 will be recognized as revenue during the period from January 1, 2023 to December 31, 2023. The remaining 64% will be substantially recognized during the period from January 1, 2024 to December 31, 2032.

Manufacturing in Collaboration with Haima Auto

12 Months Ended

Dec. 31, 2022

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Manufacturing in Collaboration with Haima Auto

20.	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 was expired on December 31, 2021, and such agreements were 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 years ended December 31, 2021 and 2022, RMB43,755 and nil were paid in cash, respectively.

Convertible Redeemable Preferred Shares

12 Months Ended

Dec. 31, 2022

Convertible Redeemable Preferred Shares [Abstract]

Convertible Redeemable Preferred Shares

21.	Convertible Redeemable Preferred Shares

The following table summarizes the issuances of convertible redeemable Preferred Shares with proceeds of the Group:


Series	Issuance Date		Shares Issued after Share Spilt		Issue Price per Share		Net Proceeds from Issuance
					RMB		RMB’000
A		June 9, 2017		27,567,750		6.08		168,000
A		November 27, 2017		50,540,875		6.08		308,000
A1		January 5, 2018		67,802,375		6.80		460,000
A2		January 5, 2018		11,671,400		8.56		100,000
B		March 26, 2018		160,481,700		13.72		2,200,000
B1		August 1, 2018		133,272,750		21.76		2,900,000
B2		August 1, 2018		38,163,575		25.04		955,000
C		December 2, 2019		79,590,650		26.48		2,107,860
C		April 10, 2020		26,137,425		27.00		693,123
C		May 11, 2020		795,907		27.00		21,231
C		May 26, 2020		318,363		27.00		8,555
C		July 22, 2020, July 24, 2020, July 29, 2020, August 6, 2020		207,588,515		30.00		6,271,720

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

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 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 year ended December 31, 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		Amount		Number of			Amount			Number of			Amount			Number of			Amount			Number of			Amount			Number of			Amount			Number of			Amount			Number of			Amount			Number of			Amount
	shares		(RMB)		shares			(RMB)			shares			(RMB)			shares			(RMB)			shares			(RMB)			shares			(RMB)			shares			(RMB)			shares			(RMB)			shares			(RMB)
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, 2021 and 2022.

Ordinary Shares

12 Months Ended

Dec. 31, 2022

Stockholders' Equity Note [Abstract]

Ordinary Shares

22.	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 40,569,304 Class A treasury shares to employees for the vested RSUs for the year ended December 31, 2021.

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 an executive director of the Company 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.

Upon the completion of the extraordinary general meeting held on December 8, 2021, the Company authorized 9,250,000,000 Class A ordinary shares and 750,000,000 Class B ordinary shares of par value US$0.00001.

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 had been issued and outstanding.

The Group issued 12,644,728 Class A ordinary shares for the year ended December 31, 2022, out of which, 2,030,152 Class A ordinary shares are outstanding and transferred to employees for the vested RSUs and 10,614,576 Class A ordinary shares are treasury shares held by XPeng Inc.

XPeng Inc. and XPeng Fortune Holding Limited transferred 17,567,096 Class A treasury shares to employees and independent directors for the vested RSUs for the year ended December 31, 2022.

61,137,879 Class B ordinary shares held by an executive director of the Company were converted into Class A ordinary shares on a

one-on-one

basis upon his resignation took effect.

As of December 31, 2022, 1,376,693,799 Class A ordinary shares had been issued, 1,371,774,629 Class A ordinary shares outstanding, 348,708,257 Class B 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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Share-based Payment Arrangement [Abstract]

Share-based Compensation

12 Months Ended

Dec. 31, 2022

Share-based Compensation

23.	Share-based Compensation

(a)

Share options

Since 2015, the Group has granted share options to certain directors, executive officers and employees. The options granted are exercisable only upon the completion of an IPO or change in control. 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 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. 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

Activities of the Group’s share options during the year ended December 31, 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, 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		—					—

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”).

After the Replacement, 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, 2021 and 2022.

No share-based compensation expenses were recognized for share options during the years ended December 31, 2020, 2021 and 2022. As of December 31, 2021 and 2022, there were no 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,
		2020
Expected term (years) (i)		7
Exercise price (RMB)		0.0004
Fair value of the ordinary shares on the date of option grant (RMB)		8.36 ~ 8.53
Risk-free interest rate (ii)		3.10% ~ 3.31%
Expected dividend yield (iii)		0.00%
Expected volatility (iv)		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

On June 28, 2020, the board of directors of the Company approved the 2019 Equity Incentive Plan (“2019 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 2019 Plan.

After the Replacement mentioned in Note 23(a), 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

lass A ordinary share of the Group with a par value of US$0.00001 per share.

The RSUs primarily include both service and performance conditions. For service condition, vesting schedules include: (i) vesting schedules mentioned in Note 23(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. Therefore, the share-based expenses related to such RSUs with no conditions were recognized immediately on the grant date.

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, RSUs with only service condition to employees under 2019 Plan 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, 2021 and 2022 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


	Number of restricted share units			Weighted average grant date fair value
				RMB
Outstanding as of December 31, 2021		33,860,228			38.75
Granted (i)		28,010,128			68.29
Vested		(19,564,802	)		37.27
Forfeited		(6,309,648	)		81.29

Outstanding as of December 31, 2022 (i)		35,995,906			59.72

Expected to vest as of December 31, 2022 (i)		33,116,233

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 amo

nting to RMB996,417, RMB379,948 and RMB710,486 were recognized for RSUs and restricted shares upon and subsequent to the Replacement for the years ended December 31,

2020, 2021 and 2022, respectively. As of December 31, 2022, there was RMB1,499,587 of unrecognized compensation expense relating to the RSUs and restricted shares upon and subsequent to the Replacement. Excluding the 2022 Award mentioned below, the expense is expected to be recognized over a weighted average period of 1.85 years.

For the years ended December 31, 2020, 2021 and 2022, nil, nil and 21,994 RSUs with no condition were granted to the Company’s independent directors and the RSUs were vested upon granted, respectively.

(i)

2022 Performance Based Award

November

2022, the board of directors of the Company granted 8.02 million RSUs to certain employees (“2022 Award”) under 2019 Plan. The 2022 Award consists of five vesting tranches with both service and performance conditions. Such employees are required to provide continued services through the achi

vement of the performance conditions which

are

different for each vesting tranche. The Group will recognize the compensation cost when the performance conditions become probable of achievement. As of December 31, 2022, there was RMB178,907 of unrecognized compensation expenses relating to 2022 Award as it was not considered probable of achievement. For the year ended December 31, 2022, no share-based compensation expense related to this grant was recognized.

Taxation

12 Months Ended

Dec. 31, 2022

Income Tax Disclosure [Abstract]

Taxation

24.

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, 2020, 2021 and 2022 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 2022. Xiaopeng Technology is entitled to continue to enjoy the beneficial tax rate of 15% as an HNTE for the years 2022 through 2024.

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.

Shanghai Xiaopeng applied for the HNTE qualification and received approval in December 2022. Shanghai Xiaopeng is entitled to continue to enjoy the beneficial tax rate of 15% as an HNTE for the years 2022 through 2024.

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 t

Company was incorporated, does not have a tax treaty with the PRC.

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 relevant policies 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 75% or 100% of qualified R&D expenses incurred in determining its tax assessable profits for that year (“Super Deduction”). The additional deduction of 100% or 75% of qualified R&D expenses can only be claimed directly in the annual EIT filling and subject to the approval from the relevant tax authorities.

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


	For the Year Ended December 31,
	2020		2021		2022
Current income tax expenses		1,223		25,990		24,731
Deferred income tax expenses		—		—		—

Income tax expenses		1,223		25,990		24,731

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,
	2020			2021			2022
Loss before income tax expenses and share of results of equity method investees		(2,730,762	)		(4,837,106	)		(9,118,358	)
Income tax credit computed at the PRC statutory income tax rate of 25% (i)		(682,691	)		(1,209,277	)		(2,279,590	)
Effect of preferential tax rate (ii)		111,756			254,061			202,968
Tax-free income		—			(25,000	)		(14,000	)
Effect of change in tax rate		13,920			33,454			16,554
Effect of different tax rate of different jurisdictions		(393,384	)		(323,601	)		322,514
Effect of additional deduction for qualified R&D expenses		(156,713	)		(217,395	)		(515,288	)
Non-deductible expenses		234,328			163,980			92,906
Changes in valuation allowance		874,007			1,349,768			2,198,667

Income tax expenses		1,223			25,990			24,731

(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,
	2020			2021			2022
Deferred tax assets:
Net operating loss carry-forwards		2,036,152			3,051,082			5,026,589
Government grants		43,145			41,565			72,674
Impairment of long-lived assets		21,802			12,239			17,372
Inventory reserve		11,233			7,221			55,397
Accruals and others		102,619			452,612			591,354
Valuation allowance		(2,214,951	)		(3,564,719	)		(5,763,386	)

Total deferred tax assets, net		—			—			—

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,
	2020			2021			2022
Valuation allowance
Balance at beginning of the year		1,340,944			2,214,951			3,564,719
Additions		889,877			1,511,434			2,221,222
Loss utilized		(1,950	)		(128,212	)		(6,001	)
Effect of change in tax rate		(13,920	)		(33,454	)		(16,554	)

Balance at end of the year		2,214,951			3,564,719			5,763,386

For the years ended December 31, 2020, 2021 and 2022, 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 RMB24,246,281 that will expire in one to ten years for deduction against future taxable profits.


Loss expiring in 2023			88,608
Loss expiring in 2024			597,527
Loss expiring in 2025			1,647,336
Loss expiring in 2026			3,298,601
Loss expiring in 2027			5,935,040
Loss expiring in 2028			1,638,741
Loss expiring in 2029			4,400,603
Loss expiring in 2030			1,406,957
Loss expiring in 2031			2,137,147
Loss expiring in 2032			3,095,721

Total			24,246,281

The Group has tax losses arising in Hong Kong and Others of RMB912,347 that will not expire for deduction against future taxable profit.


Hong Kong			593,943
Others			318,404

Total			912,347

Uncertain Tax Positions

The Group did not identify any significant unrecognized tax benefits for the years ended December 31, 2020, 2021 and 2022. 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, 2022. 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 2018 through 2022 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
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 21
-URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32857-109319

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
-URI https://asc.fasb.org/extlink&oid=122134291&loc=d3e330215-122817

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 17
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32809-109319

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB TOPIC 6.I.5.Q1)
-URI https://asc.fasb.org/extlink&oid=122134291&loc=d3e330036-122817

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 14
-URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32705-109319

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 270
-Section 50
-Paragraph 1
-URI https://asc.fasb.org/extlink&oid=6424409&loc=d3e44925-109338

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-URI https://asc.fasb.org/topic&trid=2144680

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 30
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=6424122&loc=d3e41874-109331

Reference 9: 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(h)(2))
-URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

Commitments and Contingencies Disclosure [Abstract]

Loss Per Share

12 Months Ended

Dec. 31, 2022

Earnings Per Share [Abstract]

Loss Per Share

25.	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, 2020, 2021 and 2022 as follows:


	For the Year Ended December 31,
	2020			2021			2022
Numerator:
Net loss		(2,731,985	)		(4,863,096	)		(9,138,972	)
Accretion on Preferred Shares to redemption value		(2,157,744	)		—			—

Net loss attributable to ordinary shareholders of XPeng Inc.		(4,889,729	)		(4,863,096	)		(9,138,972	)

Denominator:
Weighted average number of ordinary shares outstanding-basic and diluted		754,270,914			1,642,906,400			1,712,533,564

Basic and diluted net loss per share attributable to ordinary shareholders of XPeng Inc.		(6.48	)		(2.96	)		(5.34	)

For the years ended December 31, 2020, 2021 and 2022, the Company had potential ordinary shares, including

non-vested

RSUs granted. As the Group incurred losses for the years ended December 31, 2020, 2021 and 2022, 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

RSUs excluded from the calculation of diluted net loss per share of the Company were 20,841,866, 44,422,384 and 39,259,022

as of December 31, 2020, 2021 and 2022, respectively.

Related Parties

12 Months Ended

Dec. 31, 2022

Related Parties

26.	Related parties

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
Mr. Hongdi Brian Gu		Honorary Vice Chairman of the Board and President
Mr. Tao He (4)		Senior Vice President
HT Flying Car Inc.		A Company Significantly Influenced by the Principal Shareholder
HT Flying Car (Hong Kong) Limited		A Company Significantly Influenced by the Principal Shareholder
Guangzhou Huitian Aerospace Technology Co., Ltd. (“Guangzhou Huitian”) (1)		A Company Significantly Influenced by the Principal Shareholder
Guangdong Huitian Aerospace Technology Co., Ltd. (“Guangdong Huitian”) (1)		A Company Significantly Influenced by the Principal Shareholder
Guangzhou Zhongpeng Investment and Development Co., Ltd.		A Company Controlled by the Principal Shareholder
Rockets Capital L.P. (2)		A Partnership Significantly Influenced by the Company
Dogotix (3)		A Company Significantly Influenced by the Principal Shareholder
Dogotix (HongKong) Limited		A Company Significantly Influenced by the Principal Shareholder
Shenzhen Pengxing Smart Co., Ltd (“Shenzhen Pengxing”) (3)		A Company Significantly Influenced by the Principal Shareholder
Shenzhen Pengxing Smart Research Co., Ltd. (“Shenzhen Pengxing Research”) (3)		A Company Significantly Influenced by the Principal Shareholder
Guangzhou Xuetao (4)		A Company Jointly Controlled by the Senior Vice President

(1)	Since January 2021, Guangzhou Huitian and Guangdong Huitian were controlled by the principal shareholder. In October 2021, upon the completion of Huitian’s A round of fund raising, Guangzhou Huitian and Guangdong Huitian became significantly influenced by the principal shareholder.

(2)

As of December 31, 2022, the principal shareholder and the President are the shareholders of the General Partner of Rockets Captial L.P. and the President is entitled to appoint one of three directors of the General Partner. The Group, together with its related parties, can exercise significant influence over Rockets Capital L.P(Note 12(iv)).

(3)

Since April 2021, Dogotix, Shenzhen Pengxing and Shenzhen Pengxing Research were controlled by the principal shareholder. In July 2022, upon the completion of Dogotix’s A round of fund raising, Dogotix, Shenzhen Pengxing and Shenzhen Pengxing Research became significantly influenced by the principal shareholder.

(4)

Mr. Tao He joined the Company as senior vice president in January 2015 and was appointed as director in March 2020. In July 2021, he resigned from the directorship with effect from the Global Offering. Since June 2022, he established and jointly controlled Guangzhou Xuetao with 50% equity interests.

(5)

Major transactions with related parties:

(i)

Non-trade

in nature

For the year ended December 31, 2020, the loans from a principal shareholder amounted to RMB1,063,434 and was repaid as of December 31, 2020 (2021 and 2022: nil). The interest expenses on the loans from a principal shareholder was RMB5,922 (2021 and 2022: nil).

For the year ended December 31, 2022, the debt investments of RMB165,000

were disposed to a partnership significantly influenced by the Company (Note(12)(iii)).

For the year ended December 31, 2022, the interest expenses on the payable due to a company jointly controlled by the senior vice president was RMB1,021.

(ii)

Trade in nature

For the years ended December 31, 2020, 2021 and 2022, the rental expenses to a company controlled by the principal shareholder amounted to RMB10,150, RMB10,150 and nil, respectively.

For the years ended December 31, 2020, 2021 and 2022, the operation support service provided to companies controlled by the principal shareholder amounted to nil, RMB36,857 and RMB31,293, respectively.

For the years ended December 31, 2020, 2021 and 2022, the operation support service provided to companies significantly influenced by the principal shareholder amounted to nil, RMB2,300 and RMB20,210, respectively.

For the year ended December 31, 2020, the purchase of fixed assets and the rental income from a company controlled by the principal shareholder amounted to RMB999 and RMB166, respectively. For the year ended December 31, 2021, the purchase of fixed assets, the purchase of services, the rental income and the sales income from the companies controlled by the principal shareholder amounted to RMB698, RMB101, RMB862 and RMB140, respectively. For the year ended December 31, 2022, the purchase of fixed assets, the purchase of service and the rental income from the companies controlled by the principal shareholder amounted to nil, nil and RMB55, respectively.

For the year ended December 31, 2021, the purchase of fixed assets, the purchase of services, the rental income from the companies significantly influenced by the principal shareholder amounted to RMB2,793, RMB54 and RMB40, respectively. For the year ended December 31, 2022, the purchase of fixed assets, the purchase of services, the rental income and the sales income from the companies significantly influenced by the principal shareholder amounted to RMB3,752, RMB663, RMB534 and RMB2,167, respectively.

(6)

Amounts due from related parties:

As of December 31, 2021, amounts due from related parties represents: (i) the receivables for operation support service amounting to RMB15,804 to the companies controlled by the pricipal shareholder, and (ii) the receivables for operation support service and the prepayment for fixed assets amounting to RMB15,403 and RMB1,578, respectively, to the companies significantly influenced by the principal shareholder.

As of December 31, 2022, amounts due from related parties represents the receivables for operation support service and sales of goods amounting to RMB44,755 and RMB 2,369

, respectively, to the companies significantly influenced by the principal shareholder.

(7)

Amounts due to related parties:

As of December 31, 2021, amounts due to related parties represents: (i) the payables for rental expenses amounting to RMB22,126 to a company controlled by the principal shareholder, and (ii) the payables for assets purchased amounting to RMB2,793 to a company significantly influenced by the principal shareholder.

As of December 31, 2022, amounts due to related parties represents: (i) the payables for assets purchased amounting to RMB978 to the companies significantly influenced by the principal shareholder, and (ii) the payable due to a company jointly controlled by the senior vice president amount

ing

to RMB28,470, and (iii) the payable for

nvestment amounting to RMB61,663 to a partnership significantly influenced by the Company, which was subsequently paid

n January 2023.

(8)

As of December 31, 2022, there was an investment commitment of RMB658,160 to a partnership significantly influenced by the Company (Note 27(a)).

Commitments and Contingencies

12 Months Ended

Dec. 31, 2022

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,
	2021		2022
Property, plant and equipment		1,241,759		1,721,666
Investments		20,000		658,160

Total		1,261,759		2,379,826

(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,
	2021		2022
Purchase commitments on purchase of raw materials		5,312,557		2,046,326

Restricted Net Assets

12 Months Ended

Dec. 31, 2022

Restricted Net Assets [Abstract]

Restricted Assets Disclosure

28.	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.

The restricted portion was RMB41,040,036 and RMB59,145,690

as of December 31, 2021 and 2022, 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, 2021 and 2022 and for the years ended December 31, 2020, 2021 and 2022 are disclosed in Note 29.

Company Financial Statements (Parent Company Only)

12 Months Ended

Dec. 31, 2022

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Company Financial Statements

29.	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 notes to consolidated financial statements of the Company.

As of December 31, 2022, except for the investment commitment disclosed in Note 27(a), the Company did not have significant capital and other commitments, or guarantees.

Condensed Balance Sheets


	As of December 31,
	2021		2022
	RMB		RMB
ASSETS
Current assets
Cash and cash equivalents		4,453,841		951,656
Restricted cash		57,253		—
Short-term deposits		14,457,154		12,145,309
Prepayments and other current assets		4,980		36,541

Total current assets		18,973,228		13,133,506

Non-current assets
Investments in subsidiaries and VIEs		22,269,421		21,997,908
Long-term deposits		955,907		1,416,782
Long-term investments		—		431,028

Total non-current assets		23,225,328		23,845,718

Total assets		42,198,556		36,979,224

LIABILITIES
Current liabilities
Amounts due to a related party		—		61,663
Accruals and other liabilities		51,978		6,896

Total current liabilities		51,978		68,559

Total liabilities		51,978		68,559


	As of December 31,
	2021			2022
	RMB			RMB
SHAREHOLDERS’ EQUITY
Class A Ordinary shares		87			92
Class B Ordinary shares		25			21
Additional paid-in capital		59,980,534			60,691,019
Statutory reserves		6,047			6,425
Accumulated deficit		(16,191,566	)		(25,330,916	)
Accumulated other comprehensive (loss) income		(1,648,549	)		1,544,024

Total shareholders’ equity		42,146,578			36,910,665

Total liabilities and shareholders’ equity		42,198,556			36,979,224

Condensed Statements of Comprehensive Loss


	For the Year Ended December 31,
	2020			2021			2022
	RMB			RMB			RMB
Operating expenses
Selling, general and administrative expenses		(13,430	)		(8,966	)		(22,896	)

Total operating expenses		(13,430	)		(8,966	)		(22,896	)

Loss from operations		(13,430	)		(8,966	)		(22,896	)
Interest income		43,001			208,463			314,668
Interest expense		(5,935	)		—			—
Equity in loss of subsidiaries and VIEs		(4,487,049	)		(5,696,578	)		(7,074,057	)
Other non-operating income, net		—			84,620			35,867
Exchange gain (loss) from foreign currency transactions		369,403			470,103			(2,380,873	)
Fair value loss on long-term investments		—			—			(75,155	)
Fair value gain on derivative assets or derivative liabilities		1,362,025			79,262			59,357

Loss before income tax expenses and share of results of equity method investees		(2,731,985	)		(4,863,096	)		(9,143,089	)

Income tax expenses		—			—			—
Share of results of equity method investees		—			—			4,117

Net loss		(2,731,985	)		(4,863,096	)		(9,138,972	)

Accretion on Preferred Shares to redemption value		(2,157,744	)		—			—

Net loss attributable to ordinary shareholders of XPeng Inc.		(4,889,729	)		(4,863,096	)		(9,138,972	)

Net loss		(2,731,985	)		(4,863,096	)		(9,138,972	)
Other comprehensive (loss) income
Foreign currency translation adjustment, net of nil tax		(724,433	)		(918,168	)		3,192,573

Total comprehensive loss attributable to XPeng Inc.		(3,456,418	)		(5,781,264	)		(5,946,399	)

Accretion on Preferred Shares to redemption value		(2,157,744	)		—			—

Comprehensive loss attributable to ordinary shareholders of XPeng Inc.		(5,614,162	)		(5,781,264	)		(5,946,399	)

Condensed Statements of Cash Flows


	For the Year Ended December 31,
	2020			2021			2022
	RMB			RMB			RMB
Cash flows from operating activities		23,636			232,625			175,195

Cash flows from investing activities
(Placement) maturities of term deposits		(979,897	)		(14,607,257	)		3,099,780
Investment in equity investees		(7,825,007	)		(19,015,285	)		(6,934,426	)
Cash paid for long-term investments		—			—			(409,363	)
Maturities of derivative assets or derivative liabilities		—			233,050			10,752

Net cash used in investing activities		(8,804,904	)		(33,389,492	)		(4,233,257	)

Cash flows from financing activities
Proceeds from issuance of Preferred Shares		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	)		(1,830	)

Net cash provided by (used in) financing activities		33,960,612			13,109,887			(1,830	)

Effects of exchange rate changes on cash, cash equivalents and restricted cash		(573,604	)		(316,835	)		500,454
Net increase (decrease) in cash, cash equivalents and restricted cash		24,605,740			(20,363,815	)		(3,559,438	)
Cash, cash equivalents and restricted cash at beginning of the year		269,169			24,874,909			4,511,094

Cash, cash equivalents and restricted cash at end of the year		24,874,909			4,511,094			951,656

(i) 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.

Subsequent events

12 Months Ended

Dec. 31, 2022

Subsequent Events [Abstract]

Subsequent events

30.	Subsequent events

The Group has performed an evaluation of subsequent events through the date of this report, which is the date the consolidated financial statements were issued, with no material events or transactions needing recognition or disclosure found.

Summary of Significant Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2022

Principles of consolidation

Basis of presentation

(a)	Basis of presentation

non-substantive

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

(b)	Principles of consolidation

Use of estimates

(c)	Use of estimates

Functional currency and foreign currency translation

(d)	Functional currency and foreign currency translation

Non-monetary

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

re-measured

Fair value

(e)	Fair value

non-current

assets,

non-current

portion of long-term deposits,

non-current

portion of long-term borrowings, and

non-current

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

Cash and cash equivalents

(f)	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, 2021				As of December 31, 2022
	Amount		RMB equivalent		Amount		RMB equivalent
Cash and cash equivalents:
RMB		8,513,644		8,513,644		13,230,745		13,230,745
US$		281,083		1,788,100		194,588		1,355,226
HKD		852,743		695,738		9,256		8,268
Others		not applicable		27,424		not applicable		13,535

Total				11,024,906				14,607,774

As of December 31, 2021 and 2022, 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 letters of

guarantee

(h)	Short-term and long-term deposits

Current expected credit losses

(i)	Current expected credit losses

In 2016, the FASB issued ASU

No. 2016-13,

non-current

assets were RMB34,198 and RMB32,898, respectively. As of December 31, 2022, the expected credit loss provision recorded in current and

non-current

assets were RMB67,181 and RMB54,526, respectively.

non-performing

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.

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, 2021 and 2022 :


	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


	For the Year Ended
	December 31, 2022

Balance as of December 31, 2021		67,096
Current period provision		67,654
Write-offs		(13,043	)

Balance as of December 31, 2022		121,707

Short-term investments

(j)	Short-term investments

Inventory

(k)

Inventory

Inventory write-downs of RMB92,612, RMB162,433 and RMB220,319 were recognized in cost of sales for the years ended December 31, 2020, 2021 and 2022, respectively.

Property, plant and equipment, net

(l)	Property, plant and equipment, net


	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 molds and toolings is computed using the

units-of-production

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

Intangible assets, net

(m)	Intangible assets, net

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

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

49.5 to

50 years that represent the terms of land use rights certificate.

Long-term investments

(o)	Long-term investments

Equity Method Investments

The Group applies the equity method to

account

for its equity investments, according to ASC 323 “Investments — Equity Method and Joint Ventures”, over which it has significant influence but does not own a controlling financial interest.

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

Equity Investments with Readily Determinable Fair Values

Equity Investments without Readily Determinable Fair Values

Debt Investments

instrument-by-instrument

Impairment of long-lived assets

(p)	Impairment of long-lived assets

Warranties

(q)	Warranties

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.

Revenue recognition

(r)	Revenue recognition

•

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.

606-10-32-37

are not met.

Vehicle sales

606-10-32-37

are not met.

Initial refundable deposits for intention orders and

non-refundable

Other services

Practical expedients and exemptions

on-site

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

Customer Upgrade Program

trade-in

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 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

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. As of December 31, 2022, the

trade-in

program has been closed. If the owners of G3 2019, who elected the

trade-in

right, did not sign the

trade-in

contracts or reach an additional agreement with the Group in 2022, the

trade-in

right will be expired.

Cost of sales

(s)	Cost of sales

Vehicle

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.

Research and development expenses

(t)	Research and development expenses

respectively.

Earnings (losses) per share

(u)	Selling, general and administrative expenses

Employee benefits

(v)	Employee benefits

Government grants

(w)	Government grants

non-current

liabilities if the amount is received in advance (of the incurrence of interest expense). Such amounts would then reduce related interest expense when incurred.

Government grants relating to the purchase or construction of property, plant and equipment and intangible assets that are received in advance are included in other

non-current

liabilities and are credited to profit or loss on a straight-line basis over the expected lives of the related assets.

Nonrefundable grants received without further performance or conditions are recognized immediately as other income upon receipt.

Other income, net

(x)	Other income, net

Income taxes

(y)	Income taxes

Uncertain tax positions

Share-based compensation

(z)	Share-based compensation

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 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.

Statutory reserves

(aa)	Statutory reserves

The Group’s subsidiaries and the 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

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

For the years ended December 31,

2020, 2021 and 2022, appropriations to the general reserve fund and the statutory surplus fund amounted to nil, RMB6,047 and RMB378, respectively.

Comprehensive loss

(ab)	Comprehensive loss

Leases

(ac)

Leases

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

right-of-use

assets.

“Right-of-use

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.

(b) As a lessor

The vehicle leasing income was immaterial for the years ended December 31, 2020, 2021 and 2022, respectively.

Dividend

(ad)

Dividend

Dividends are recognized when declared. No dividend was declared for the years ended December 31, 2020, 2021 and 2022, respectively.

(ae)	Earnings (losses) per share

two-class

method. Under the

two-class

Segment reporting

(af)	Segment reporting

Organization and Nature of Operations (Tables)

12 Months Ended

Dec. 31, 2022

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Summary of Company's Principal Subsidiaries and VIEs

As of December 31, 2022, the Company’s principal subsidiaries and VIEs are as follows:

Place of

incorporation

Date of incorporation
or acquisition

Equity
interest held

Principal activities

Principal subsidiaries

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

Design and technology development

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

(2)

PRC

February 13, 2020

100

Manufacturing of vehicles

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

PRC

May 18, 2017

100

Manufacturing of vehicles

Xiaopeng Motors Sales Co., Ltd. (“Xiaopeng Motors Sales”)

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

Beijing Xiaopeng Automobile Sales Service Co., Ltd.

PRC

November 09, 2020

100

Vehicle wholesale and retail

Shenzhen Xiaopeng Automobile Sales Service Co., Ltd.

PRC

August 06, 2018

100

Vehicle wholesale and retail

Hangzhou Zhipeng Automobile Sales Service Co., Ltd.

PRC

April 10, 2019

100

Vehicle wholesale and retail

Guangzhou Xiaopeng Automatic Driving Technology Co., Ltd.

PRC

November 18, 2019

100

Technology development

Guangzhou Xiaopeng Smart Charging Technology Co., Ltd.

PRC

June 22, 2020

100

Smart charging technology development

Xiaopeng Automobile Central China (Wuhan) Co.,Ltd.(“Wuhan Xiaopeng”)

PRC

April 30, 2021

100

Technology development and vehicle retail

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

PRC

February 12, 2018

100

Technology development

and vehicle retail

XPeng Huitian Holding Limited

BVI

October 12, 2020

100

Investment holding

XPeng Dogotix Holding Limited

BVI

January 05, 2021

100

Investment holding

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
Guangdong Intelligent Insurance Agency Co., Ltd. (“GIIA”, formerly known as Qingdao Miaobao Insurance Agency Co., Ltd.) (Note 1(c)(iii))	PRC	July 22, 2022	Insurance agency
VIEs’ subsidiary
Jiangsu Zhipeng Kongjian Information Technology Co., Ltd. (“Zhipeng Kongjian”, formerly known as Jiangsu Zhitu Technology Co., Ltd., a subsidiary of Xintu Technology) (Note 1(c)(i))	PRC	June 23, 2021	Surveying and mapping

Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2022

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, 2021				As of December 31, 2022
	Amount		RMB equivalent		Amount		RMB equivalent
Cash and cash equivalents:
RMB		8,513,644		8,513,644		13,230,745		13,230,745
US$		281,083		1,788,100		194,588		1,355,226
HKD		852,743		695,738		9,256		8,268
Others		not applicable		27,424		not applicable		13,535

Total				11,024,906				14,607,774

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, 2021 and 2022 :


	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


	For the Year Ended
	December 31, 2022

Balance as of December 31, 2021		67,096
Current period provision		67,654
Write-offs		(13,043	)

Balance as of December 31, 2022		121,707

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

Fair Value of Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2022

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, 2021								As of December 31, 2022
	Fair Value		Level I		Level II		Level III		Fair Value		Level I		Level II		Level III

Assets
Short-term investments (i) (Note 2(j))		2,833,763		—		2,833,763		—		1,262,129		—		1,262,129		—
Debt investments (ii) (Note 12)		1,338,822		—		—		1,338,822		1,626,131		—		—		1,626,131
Equity investments with readily determinable fair values (iii) (Note 12)		—		—		—		—		112,641		112,641		—		—

		4,172,585		—		2,833,763		1,338,822		3,000,901		112,641		1,262,129		1,626,131

Liabilities
Derivative liabilities – forward exchange contract (Note 14)		48,605		—		48,605		—		—		—		—		—

Inventory (Tables)

12 Months Ended

Dec. 31, 2022

Inventory Disclosure [Abstract]

Summary of Inventory

Inventory consisted of the following:


	As of December 31,
	2021		2022
Finished goods		1,042,719		3,059,567
Raw materials		1,605,197		1,449,596
Work-in-process		14,005		12,210

Total		2,661,921		4,521,373

Prepayments and Other Current Assets (Tables)

12 Months Ended

Dec. 31, 2022

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,
	2021		2022
Deductible input value-added tax		484,257		1,359,581
Prepayments		1,300,805		587,289
Deposits		83,939		92,023
Receivables from third party online payment service providers		78,620		38,201
Others		301,062		388,990

Total		2,248,683		2,466,084

Property, Plant and Equipment, Net (Tables)

12 Months Ended

Dec. 31, 2022

Property, Plant and Equipment [Abstract]

Summary of Property, Plant and Equipment, Net

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


	As of December 31,
	2021			2022
Construction in process (i)		1,760,259			3,858,358
Machinery and equipment		1,123,512			2,589,709
Buildings (ii)		860,556			2,206,923
Molds and toolings		1,178,385			1,505,876
Vehicles		717,976			867,434
Leasehold improvements		376,219			681,341
Charging infrastructure		262,678			369,994
Computer and electronic equipment		147,273			282,082
Others		93,950			130,864

Sub-total		6,520,808			12,492,581

Less: Accumulated depreciation		(1,002,246	)		(1,788,193	)
Less: Impairment (iii)		(93,786	)		(97,643	)

Property, plant and equipment, net		5,424,776			10,606,745

Intangible Assets, Net (Tables)

12 Months Ended

Dec. 31, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Intangible Assets, Net

Intangible assets, net consisted of the following:


	As of December 31, 2021							As of December 31, 2022
	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization			Impairment Amount (iv)			Net Carrying Amount
Finite-lived intangible assets
Software		158,589		(55,052	)		103,537		389,409		(120,766	)		(26,418	)		242,225
License of maintenance and overhauls		2,290		(2,290	)		—		2,290		(2,290	)		—			—

Total finite-lived intangible assets		160,879		(57,342	)		103,537		391,699		(123,056	)		(26,418	)		242,225

Indefinite-lived intangible assets
Manufacturing license (i)		494,000		—			494,000		494,000		—			—			494,000
Surveying and mapping qualification (i i )		250,000		—			250,000		250,000		—			—			250,000
Others (iii)		31,187		—			31,187		56,747		—			—			56,747

Total indefinite-lived intangible assets		775,187		—			775,187		800,747		—			—			800,747

Total intangible assets		936,066		(57,342	)		878,724		1,192,446		(123,056	)		(26,418	)		1,042,972

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			117,926
Between 1 and 2 years			88,829
Between 2 and 3 years			22,783
Between 3 and 4 years			9,226
Between 4 and 5 years			2,283
Thereafter			1,178

Total			242,225

Land Use Rights, Net (Tables)

12 Months Ended

Dec. 31, 2022

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,
	2021			2022
Land use rights		620,065			2,822,757
Less: Accumulated amortization		(24,594	)		(74,903	)

Total land use rights, net		595,471			2,747,854

Installment Payment Receivables, Net (Tables)

12 Months Ended

Dec. 31, 2022

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,
	2021		2022
Current portion of installment payment receivables, net		887,202		1,294,665
Non-current portion of installment payment receivables, net		1,863,492		2,188,643

Total		2,750,694		3,483,308

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


	As of December 31,
	2022
Within 1 year		1,511,239
Between 1 and 2 years		1,084,424
Between 2 and 3 years		744,784
Between 3 and 4 years		482,688
Between 4 and 5 years		161,313
Thereafter		5,298

Total receivables of installment payments		3,989,746

Less: Unrealized finance income		(418,294	)

Installment payment receivables, gross		3,571,452
Less: Allowance for installment payment receivables		(88,144	)

Installment payment receivables, net		3,483,308

Long-Term Investments (Tables)

12 Months Ended

Dec. 31, 2022

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)			Equity investments with readily determinable fair values (ii)		Debt investments (iii)			Equity method investments (iv)		Total
Balance at December 31, 2020		1,000			—		—			—		1,000
Additions		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


	Equity investments without readily determinable fair values (i)			Equity investments with readily determinable fair values (ii)			Debt investments (iii)			Equity method investments (iv)		Total
Balance at December 31, 2021		210,354			—			1,338,822			—		1,549,176
Additions		—			191,981			209,451			329,045		730,477
Fair value change through earnings		95,752			(78,282	)		7,592					25,062
Share of results of equity method investees (iv)											4,117		4,117
Changes from equity investment to debt investment (iii)		(116,129	)		—			116,129			—		—
Disposals (Note 26(5))		—			—			(165,000	)		—		(165,000	)
Foreign currency translation		1,023			(1,058	)		119,137			32,098		151,200

Balance at December 31, 2022		191,000			112,641			1,626,131			365,260		2,295,032

Other Non-current Assets (Tables)

12 Months Ended

Dec. 31, 2022

Other Assets, Noncurrent [Abstract]

Summary of Other Non-current Assets

Other

non-current

assets consisted of the following:


	As of December 31,
	2021		2022
Long-term deposits (i)		128,791		151,914
Prepayments for purchase of property and equipment		20,888		47,258
Prepayment for purchase of land use rights (ii)		1,507,170		—
Prepayments for subscription of equity securities (iii)		50,000		—
Others		23,637		2,099

Total		1,730,486		201,271

Accruals and Other Liabilities (Tables)

12 Months Ended

Dec. 31, 2022

Accounts Payable and Accrued Liabilities, Current [Abstract]

Summary of Accruals And Other Liabilities

Accruals and other liabilities consisted of the following:


	As of December 31,
	2021		2022
Payables for purchase of property, plant and equipment		843,732		1,624,432
Payables for R&D expenses		939,488		1,023,344
Employee compensation payable s		810,730		729,806
Payables for marketing events		679,120		483,059
Accrued expenses		364,647		417,396
Deposits from third parties		241,468		386,412
Warranty provisions		105,068		216,260
Advance from customers		208,281		113,730
Tax payable s		73,755		51,147
Interest payables		54,191		39,082
Refundable deposit from customers		18,752		26,806
Debt from a third party investor (i)		106,596		—
Derivative liabilities (Note 5)		48,605		—
Others		316,674		472,355

Total		4,811,107		5,583,829

Borrowings (Tables)

12 Months Ended

Dec. 31, 2022

Debt Disclosure [Abstract]

Summary Of Borrowings

Borrowings consisted of the following:


	As of December 31,
	2021		2022
Current
Short-term borrowings:
Bank loans (i)		—		2,419,210

Long-term borrowings, current portion:
Bank loans (ii)		—		124,500
Asset-backed securities (iii)		—		637,359

Total current borrowings		—		3,181,069

Non-Current
Long-term borrowings:
Bank loans (ii)		1,575,106		4,328,880
Other loans (ii)		100,000		100,000
Asset-backed securities (iii)		—		184,177

Total non-current borrowings		1,675,106		4,613,057

Total borrowings		1,675,106		7,794,126

Other Non-Current Liabilities (Tables)

12 Months Ended

Dec. 31, 2022

Other Liabilities, Noncurrent [Abstract]

Summary of Other non-current liabilities

Other

non-current

liabilities consisted of the following:


	As of December 31,
	2021		2022

Debt from third party investors (i)		1,708,062		1,763,062
Government grants		174,005		318,242
Warranty provisions (ii)		266,072		424,802

Total		2,148,139		2,506,106

(i) The debt from third party investors consisted of the following three financing arrangements.

Summary of movements of accrued warranty

(ii) Movement of accrued warranty is as following:


	For the Year Ended December 31,
	2020			2021			2022

Accrued warranty - beginning of year		34,597			111,351			371,140
Warranty costs incurred		(925	)		(32,352	)		(61,551	)
Provision for warranty		77,679			292,141			331,473

Accrued warranty - end of year		111,351			371,140			641,062
Less: Current portion of warranty		(31,594	)		(105,068	)		(216,260	)

Non-current portion of warranty		79,757			266,072			424,802

Leases (Tables)

12 Months Ended

Dec. 31, 2022

Lessee Disclosure [Abstract]

Schedule of Balance Sheet Information Related to Leases

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


	As of December 31,
Operating lease	2021		2022
Land use rights, net		—		393,561
Right-of-use assets, net		1,561,175		1,954,618

Total operating lease assets		1,561,175		2,348,179

Operating lease liabilities - current		373,488		490,811
Operating lease liabilities - non current		1,189,754		1,854,576

Total operating lease liabilities		1,563,242		2,345,387


	As of December 31,
Finance lease	2021		2022
Property, plant and equipment, at cost		—		1,001,820
Accumulated depreciation		—		(25,046	)

Property, plant and equipment, net		—		976,774

Finance lease liabilities - current		—		128,279
Finance lease liabilities - non current		—		797,743

Total finance lease liabilities		—		926,022

Summary of Components of Operating Lease Expense

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


	For the Year Ended December 31,
	2020		2021		2022
Operating lease expense:
Operating lease expense		125,867		340,744		595,032
Short-term lease expense		30,201		102,901		265,800

Total operating lease expenses		156,068		443,645		860,832

Finance lease expense:
Amortization expense		—		—		25,046
Interest expense		—		—		22,846

Total finance lease expenses		—		—		47,892

Total lease expenses		156,068		443,645		908,724

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,
	2020			2021			2022
Weighted-average remaining lease term
Operating leases		4.0 years			5.3 years			5.1 years
Finance leases		—			—			6.6 years
Land use rights		—			—			49.5 years
Weighted-average discount rate
Operating leases		4.43	%		4.71	%		4.78	%
Finance leases		—			—			4.90	%
Land use rights		—			—			4.90	%

Summary of Cash Flow Information Related to Leases

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

follows:


	For the Year Ended December 31,
	2020		2021		2022
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash outflows from operating leases		132,440		289,456		486,260
Operating cash outflows from finance leases (interest payments)		—		—		22,846
Financing cash outflows from finance leases		—		—		15,355
Leased assets obtained in exchange for operating lease liabilities		130,560		1,329,021		1,162,151
Leased assets obtained in exchange for finance lease liabilities		—		—		1,001,820

Summary of Maturities of The Group's Operating Lease Liabilities

As of December 31, 2022, the maturities of the Group’s lease liabilities (excluding short-term leases) are as

follows:


	As of December 31,
	2022
	Finance Lease			Operating Lease
Within 1 year		184,626			593,383
Between 1 and 2 years		59,371			425,187
Between 2 and 3 years		31,767			322,100
Between 3 and 4 years		31,767			291,060
Between 4 and 5 years		34,835			210,323
Thereafter		857,722			930,901

Total minimum lease payments		1,200,088			2,772,954
Less: Interest		(274,066	)		(427,567	)

Present value of lease obligations		926,022			2,345,387
Less: Current portion		(128,279	)		(490,811	)

Non - current portion of lease obligations		797,743			1,854,576

Revenues (Tables)

12 Months Ended

Dec. 31, 2022

Disaggregation of Revenue [Abstract]

Summary of Revenues

Revenues by source consisted of the following:


	For the Year Ended December 31,
	2020		2021		2022
Vehicle sales		5,546,754		20,041,955		24,839,637
Services and others		297,567		946,176		2,015,482

Total		5,844,321		20,988,131		26,855,119

Deferred Revenue (Tables)

12 Months Ended

Dec. 31, 2022

Deferred Revenue Disclosure [Abstract]

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,
	2020			2021			2022
Deferred revenue - beginning of year		85,498			308,384			897,288
Additions		5,297,728			19,339,153			24,344,226
Recognition		(5,074,842	)		(18,750,249	)		(24,158,265	)

Deferred revenue - end of year		308,384			897,288			1,083,249
Less: Deferred revenue, current portion		(163,617	)		(418,227	)		(389,243	)

Deferred revenue, non-current portion		144,767			479,061			694,006

Convertible Redeemable Preferred Shares (Tables)

12 Months Ended

Dec. 31, 2022

Convertible Redeemable Preferred Shares [Abstract]

Summary of Issuance of Convertible Redeemable Preferred Shares


Series	Issuance Date		Shares Issued after Share Spilt		Issue Price per Share		Net Proceeds from Issuance
					RMB		RMB’000
A		June 9, 2017		27,567,750		6.08		168,000
A		November 27, 2017		50,540,875		6.08		308,000
A1		January 5, 2018		67,802,375		6.80		460,000
A2		January 5, 2018		11,671,400		8.56		100,000
B		March 26, 2018		160,481,700		13.72		2,200,000
B1		August 1, 2018		133,272,750		21.76		2,900,000
B2		August 1, 2018		38,163,575		25.04		955,000
C		December 2, 2019		79,590,650		26.48		2,107,860
C		April 10, 2020		26,137,425		27.00		693,123
C		May 11, 2020		795,907		27.00		21,231
C		May 26, 2020		318,363		27.00		8,555
C		July 22, 2020, July 24, 2020, July 29, 2020, August 6, 2020		207,588,515		30.00		6,271,720

Summary of Preferred Shares activities

The Company’s Preferred Shares activities for the year ended December 31, 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		Amount		Number of			Amount			Number of			Amount			Number of			Amount			Number of			Amount			Number of			Amount			Number of			Amount			Number of			Amount			Number of			Amount
	shares		(RMB)		shares			(RMB)			shares			(RMB)			shares			(RMB)			shares			(RMB)			shares			(RMB)			shares			(RMB)			shares			(RMB)			shares			(RMB)
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		—		—		—			—			—			—			—			—			—			—			—			—			—			—			—			—			—			—

Share-based Compensation (Tables)

12 Months Ended

Dec. 31, 2022

Share based Compensation [Line Items]

Summary of stock option activity

Activities of the Group’s share options during the year ended December 31, 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, 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,
		2020
Expected term (years) (i)		7
Exercise price (RMB)		0.0004
Fair value of the ordinary shares on the date of option grant (RMB)		8.36 ~ 8.53
Risk-free interest rate (ii)		3.10% ~ 3.31%
Expected dividend yield (iii)		0.00%
Expected volatility (iv)		33.35% ~ 33.56%

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, 2021 and 2022 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


	Number of restricted share units			Weighted average grant date fair value
				RMB
Outstanding as of December 31, 2021		33,860,228			38.75
Granted (i)		28,010,128			68.29
Vested		(19,564,802	)		37.27
Forfeited		(6,309,648	)		81.29

Outstanding as of December 31, 2022 (i)		35,995,906			59.72

Expected to vest as of December 31, 2022 (i)		33,116,233

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		—

Taxation (Tables)

12 Months Ended

Dec. 31, 2022

Income Tax Disclosure [Abstract]

Summary of Composition of Income Tax Expenses

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


	For the Year Ended December 31,
	2020		2021		2022
Current income tax expenses		1,223		25,990		24,731
Deferred income tax expenses		—		—		—

Income tax expenses		1,223		25,990		24,731

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,
	2020			2021			2022
Loss before income tax expenses and share of results of equity method investees		(2,730,762	)		(4,837,106	)		(9,118,358	)
Income tax credit computed at the PRC statutory income tax rate of 25% (i)		(682,691	)		(1,209,277	)		(2,279,590	)
Effect of preferential tax rate (ii)		111,756			254,061			202,968
Tax-free income		—			(25,000	)		(14,000	)
Effect of change in tax rate		13,920			33,454			16,554
Effect of different tax rate of different jurisdictions		(393,384	)		(323,601	)		322,514
Effect of additional deduction for qualified R&D expenses		(156,713	)		(217,395	)		(515,288	)
Non-deductible expenses		234,328			163,980			92,906
Changes in valuation allowance		874,007			1,349,768			2,198,667

Income tax expenses		1,223			25,990			24,731

(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%.

Summary of Components of Deferred Tax Assets


	As of December 31,
	2020			2021			2022
Deferred tax assets:
Net operating loss carry-forwards		2,036,152			3,051,082			5,026,589
Government grants		43,145			41,565			72,674
Impairment of long-lived assets		21,802			12,239			17,372
Inventory reserve		11,233			7,221			55,397
Accruals and others		102,619			452,612			591,354
Valuation allowance		(2,214,951	)		(3,564,719	)		(5,763,386	)

Total deferred tax assets, net		—			—			—

Summary of Movement in Valuation Allowance


	For the Year Ended December 31,
	2020			2021			2022
Valuation allowance
Balance at beginning of the year		1,340,944			2,214,951			3,564,719
Additions		889,877			1,511,434			2,221,222
Loss utilized		(1,950	)		(128,212	)		(6,001	)
Effect of change in tax rate		(13,920	)		(33,454	)		(16,554	)

Balance at end of the year		2,214,951			3,564,719			5,763,386

Summary of Tax Loss Carryforwards

The Group has tax losses arising in Mainland China of RMB24,246,281 that will expire in one to ten years for deduction against future taxable profits.


Loss expiring in 2023			88,608
Loss expiring in 2024			597,527
Loss expiring in 2025			1,647,336
Loss expiring in 2026			3,298,601
Loss expiring in 2027			5,935,040
Loss expiring in 2028			1,638,741
Loss expiring in 2029			4,400,603
Loss expiring in 2030			1,406,957
Loss expiring in 2031			2,137,147
Loss expiring in 2032			3,095,721

Total			24,246,281


Hong Kong			593,943
Others			318,404

Total			912,347

Loss Per Share (Tables)

12 Months Ended

Dec. 31, 2022

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, 2020, 2021 and 2022 as follows:


	For the Year Ended December 31,
	2020			2021			2022
Numerator:
Net loss		(2,731,985	)		(4,863,096	)		(9,138,972	)
Accretion on Preferred Shares to redemption value		(2,157,744	)		—			—

Net loss attributable to ordinary shareholders of XPeng Inc.		(4,889,729	)		(4,863,096	)		(9,138,972	)

Denominator:
Weighted average number of ordinary shares outstanding-basic and diluted		754,270,914			1,642,906,400			1,712,533,564

Basic and diluted net loss per share attributable to ordinary shareholders of XPeng Inc.		(6.48	)		(2.96	)		(5.34	)

Related Parties (Tables)

12 Months Ended

Dec. 31, 2022

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
Mr. Hongdi Brian Gu		Honorary Vice Chairman of the Board and President
Mr. Tao He (4)		Senior Vice President
HT Flying Car Inc.		A Company Significantly Influenced by the Principal Shareholder
HT Flying Car (Hong Kong) Limited		A Company Significantly Influenced by the Principal Shareholder
Guangzhou Huitian Aerospace Technology Co., Ltd. (“Guangzhou Huitian”) (1)		A Company Significantly Influenced by the Principal Shareholder
Guangdong Huitian Aerospace Technology Co., Ltd. (“Guangdong Huitian”) (1)		A Company Significantly Influenced by the Principal Shareholder
Guangzhou Zhongpeng Investment and Development Co., Ltd.		A Company Controlled by the Principal Shareholder
Rockets Capital L.P. (2)		A Partnership Significantly Influenced by the Company
Dogotix (3)		A Company Significantly Influenced by the Principal Shareholder
Dogotix (HongKong) Limited		A Company Significantly Influenced by the Principal Shareholder
Shenzhen Pengxing Smart Co., Ltd (“Shenzhen Pengxing”) (3)		A Company Significantly Influenced by the Principal Shareholder
Shenzhen Pengxing Smart Research Co., Ltd. (“Shenzhen Pengxing Research”) (3)		A Company Significantly Influenced by the Principal Shareholder
Guangzhou Xuetao (4)		A Company Jointly Controlled by the Senior Vice President

Commitments and Contingencies (Tables)

12 Months Ended

Dec. 31, 2022

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,
	2021		2022
Property, plant and equipment		1,241,759		1,721,666
Investments		20,000		658,160

Total		1,261,759		2,379,826

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,
	2021		2022
Purchase commitments on purchase of raw materials		5,312,557		2,046,326

Company Financial Statements (Parent Company Only) (Tables)

12 Months Ended

Dec. 31, 2022

Text Block [Abstract]

Condensed Balance Sheets


	As of December 31,
	2021		2022
	RMB		RMB
ASSETS
Current assets
Cash and cash equivalents		4,453,841		951,656
Restricted cash		57,253		—
Short-term deposits		14,457,154		12,145,309
Prepayments and other current assets		4,980		36,541

Total current assets		18,973,228		13,133,506

Non-current assets
Investments in subsidiaries and VIEs		22,269,421		21,997,908
Long-term deposits		955,907		1,416,782
Long-term investments		—		431,028

Total non-current assets		23,225,328		23,845,718

Total assets		42,198,556		36,979,224

LIABILITIES
Current liabilities
Amounts due to a related party		—		61,663
Accruals and other liabilities		51,978		6,896

Total current liabilities		51,978		68,559

Total liabilities		51,978		68,559


	As of December 31,
	2021			2022
	RMB			RMB
SHAREHOLDERS’ EQUITY
Class A Ordinary shares		87			92
Class B Ordinary shares		25			21
Additional paid-in capital		59,980,534			60,691,019
Statutory reserves		6,047			6,425
Accumulated deficit		(16,191,566	)		(25,330,916	)
Accumulated other comprehensive (loss) income		(1,648,549	)		1,544,024

Total shareholders’ equity		42,146,578			36,910,665

Total liabilities and shareholders’ equity		42,198,556			36,979,224

Condensed Statements of Comprehensive Loss


	For the Year Ended December 31,
	2020			2021			2022
	RMB			RMB			RMB
Operating expenses
Selling, general and administrative expenses		(13,430	)		(8,966	)		(22,896	)

Total operating expenses		(13,430	)		(8,966	)		(22,896	)

Loss from operations		(13,430	)		(8,966	)		(22,896	)
Interest income		43,001			208,463			314,668
Interest expense		(5,935	)		—			—
Equity in loss of subsidiaries and VIEs		(4,487,049	)		(5,696,578	)		(7,074,057	)
Other non-operating income, net		—			84,620			35,867
Exchange gain (loss) from foreign currency transactions		369,403			470,103			(2,380,873	)
Fair value loss on long-term investments		—			—			(75,155	)
Fair value gain on derivative assets or derivative liabilities		1,362,025			79,262			59,357

Loss before income tax expenses and share of results of equity method investees		(2,731,985	)		(4,863,096	)		(9,143,089	)

Income tax expenses		—			—			—
Share of results of equity method investees		—			—			4,117

Net loss		(2,731,985	)		(4,863,096	)		(9,138,972	)

Accretion on Preferred Shares to redemption value		(2,157,744	)		—			—

Net loss attributable to ordinary shareholders of XPeng Inc.		(4,889,729	)		(4,863,096	)		(9,138,972	)

Net loss		(2,731,985	)		(4,863,096	)		(9,138,972	)
Other comprehensive (loss) income
Foreign currency translation adjustment, net of nil tax		(724,433	)		(918,168	)		3,192,573

Total comprehensive loss attributable to XPeng Inc.		(3,456,418	)		(5,781,264	)		(5,946,399	)

Accretion on Preferred Shares to redemption value		(2,157,744	)		—			—

Comprehensive loss attributable to ordinary shareholders of XPeng Inc.		(5,614,162	)		(5,781,264	)		(5,946,399	)

Consolidated Statements of Cash Flows

Condensed Statements of Cash Flows


	For the Year Ended December 31,
	2020			2021			2022
	RMB			RMB			RMB
Cash flows from operating activities		23,636			232,625			175,195

Cash flows from investing activities
(Placement) maturities of term deposits		(979,897	)		(14,607,257	)		3,099,780
Investment in equity investees		(7,825,007	)		(19,015,285	)		(6,934,426	)
Cash paid for long-term investments		—			—			(409,363	)
Maturities of derivative assets or derivative liabilities		—			233,050			10,752

Net cash used in investing activities		(8,804,904	)		(33,389,492	)		(4,233,257	)

Cash flows from financing activities
Proceeds from issuance of Preferred Shares		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	)		(1,830	)

Net cash provided by (used in) financing activities		33,960,612			13,109,887			(1,830	)

Effects of exchange rate changes on cash, cash equivalents and restricted cash		(573,604	)		(316,835	)		500,454
Net increase (decrease) in cash, cash equivalents and restricted cash		24,605,740			(20,363,815	)		(3,559,438	)
Cash, cash equivalents and restricted cash at beginning of the year		269,169			24,874,909			4,511,094

Cash, cash equivalents and restricted cash at end of the year		24,874,909			4,511,094			951,656

Organization and Nature of Operations - Additional Information (Detail) ¥ in Thousands, $ in Thousands, $ in Thousands				1 Months Ended			12 Months Ended
	Jul. 31, 2021 HKD ($)	Aug. 27, 2020 CNY (¥)	Aug. 27, 2020 USD ($)	Dec. 31, 2020 CNY (¥)	Aug. 31, 2020 CNY (¥)	Sep. 30, 2019 shares	Dec. 31, 2022 CNY (¥)	Dec. 31, 2021 CNY (¥)	Dec. 31, 2020 CNY (¥)	Jul. 22, 2022	Sep. 10, 2021	Sep. 06, 2021	Aug. 12, 2021	Jun. 23, 2021
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Common stock shares issued during the period shares \| shares						7,612,147
Class of warrants or rights warrants issued during the period \| shares						17,897,478
Net loss							¥ (9,138,972)	¥ (4,863,096)	¥ (2,731,985)
Accumulated deficit							25,330,916	16,191,566
Cash from operations							(8,232,376)	(1,094,591)	(139,766)
Cash, cash equivalents, and short-term investments							14,607,774	11,024,906
Proceeds from initial public offering, net of issuance costs							0	0	11,410,386
Proceeds from FO, net of issurance cost							0	0	¥ 15,988,903
Cash and cash equivalents							14,607,774	¥ 11,024,906
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
Guangzhou Xuetao [Member]
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Equity interest acquired, percentage										100.00%
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							21,901
Proceeds from short term unsecured borrowings							0
Cash and cash equivalents							¥ 31,303,428
Chengxing [Member] \| Guangzhou Xiaopeng Motors Technology Co Ltd (Xiaopeng Technology) [Member] \| Variable Interest Entity VIE Activities [Member]
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Equity method investment ownership percentage							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%

Organization and Nature of Operations - Summary of Company's Principal Subsidiaries and VIEs (Detail) - Variable Interest Entity VIE Activities [Member]	12 Months Ended
	Dec. 31, 2022
Chengxing [Member]
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Date of incorporation or acquisition	Jan. 09, 2015
Chengxing [Member] \| CHINA [Member]
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Equity interest held	100.00%
Principal activities	Investment holding
Guangzhou Xiaopeng Motors Technology Co Ltd (Xiaopeng Technology) [Member]
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Date of incorporation or acquisition	May 12, 2016
Guangzhou Xiaopeng Motors Technology Co Ltd (Xiaopeng Technology) [Member] \| CHINA [Member]
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Equity interest held	100.00%
Principal activities	Design and technology development
Guangzhou Xiaopeng Automobile Manufacturing Co Ltd [Member]
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Date of incorporation or acquisition	Apr. 07, 2017
Guangzhou Xiaopeng Automobile Manufacturing Co Ltd [Member] \| CHINA [Member]
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Equity interest held	100.00%
Principal activities	Design and technology development
Zhaoqing Xiaopeng New Energy Investment Co Ltd [Member]
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Date of incorporation or acquisition	Feb. 13, 2020
Zhaoqing Xiaopeng New Energy Investment Co Ltd [Member] \| CHINA [Member]
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Equity interest held	100.00%
Principal activities	Manufacturing of vehicles
Zhaoqing Xiaopeng Automobile Co Ltd (Zhaoqing XPeng) [Member]
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Date of incorporation or acquisition	May 18, 2017
Zhaoqing Xiaopeng Automobile Co Ltd (Zhaoqing XPeng) [Member] \| CHINA [Member]
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Equity interest held	100.00%
Principal activities	Manufacturing of vehicles
Xiaopeng Motors Sales Co., Ltd. (Xiaopeng Motors Sales) [Member]
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Date of incorporation or acquisition	Jan. 08, 2018
Xiaopeng Motors Sales Co., Ltd. (Xiaopeng Motors Sales) [Member] \| CHINA [Member]
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Equity interest held	100.00%
Principal activities	Vehicle wholesale and retail
Beijing Xiaopeng Automobile Co Ltd [Member]
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Date of incorporation or acquisition	Apr. 28, 2018
Beijing Xiaopeng Automobile Co Ltd [Member] \| CHINA [Member]
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Equity interest held	100.00%
Principal activities	Vehicle wholesale and retail, design and technology development
Beijing Xiaopeng Automobile Sales Service Co Ltd [Member]
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Date of incorporation or acquisition	Nov. 09, 2020
Beijing Xiaopeng Automobile Sales Service Co Ltd [Member] \| CHINA [Member]
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Equity interest held	100.00%
Principal activities	Vehicle wholesale and retail
Shenzhen Xiaopeng Automobile Sales Service Co Ltd [Member]
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Date of incorporation or acquisition	Aug. 06, 2018
Shenzhen Xiaopeng Automobile Sales Service Co Ltd [Member] \| CHINA [Member]
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Equity interest held	100.00%
Principal activities	Vehicle wholesale and retail
Hangzhou Zhipeng Automobile Sales Service Co Ltd [Member]
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Date of incorporation or acquisition	Apr. 10, 2019
Hangzhou Zhipeng Automobile Sales Service Co Ltd [Member] \| CHINA [Member]
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Equity interest held	100.00%
Principal activities	Vehicle wholesale and retail
Guangzhou Xiaopeng Automatic Driving Technology Co Ltd [Member]
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Date of incorporation or acquisition	Nov. 18, 2019
Guangzhou Xiaopeng Automatic Driving Technology Co Ltd [Member] \| CHINA [Member]
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Equity interest held	100.00%
Principal activities	Technology development
Guangzhou Xiaopeng Smart Charging Technology Co Ltd [Member]
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Date of incorporation or acquisition	Jun. 22, 2020
Guangzhou Xiaopeng Smart Charging Technology Co Ltd [Member] \| CHINA [Member]
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Equity interest held	100.00%
Principal activities	Smart charging technology development
Xiaopeng Automobile Central China (Wuhan) Co Ltd (Wuhan Xiaopeng) [Member]
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Date of incorporation or acquisition	Apr. 30, 2021
Xiaopeng Automobile Central China (Wuhan) Co Ltd (Wuhan Xiaopeng) [Member] \| CHINA [Member]
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Equity interest held	100.00%
Principal activities	Technology development and vehicle retail
Shanghai Xiaopeng Motors Technology Co., Ltd. [Member]
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Date of incorporation or acquisition	Feb. 12, 2018
Shanghai Xiaopeng Motors Technology Co., Ltd. [Member] \| CHINA [Member]
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Equity interest held	100.00%
Principal activities	Technology development and vehicle retail
XPeng Huitian Holding Limited [Member]
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Date of incorporation or acquisition	Oct. 12, 2020
XPeng Huitian Holding Limited [Member] \| VIRGIN ISLANDS, BRITISH
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Equity interest held	100.00%
Principal activities	Investment holding
XPeng Dogotix Holding Limited [Member]
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Date of incorporation or acquisition	Jan. 05, 2021
XPeng Dogotix Holding Limited [Member] \| VIRGIN ISLANDS, BRITISH
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Equity interest held	100.00%
Principal activities	Investment holding
XPeng (Hong kong) Limited [Member]
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Date of incorporation or acquisition	Feb. 12, 2019
XPeng (Hong kong) Limited [Member] \| HONG KONG
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Equity interest held	100.00%
Principal activities	Investment holding
Guangzhou Zhipeng IoV Technology Co Ltd (Zhipeng IoV) [Member] \| CHINA [Member]
Organization Consolidation And Presentation Of Financial Statements [Line Items]
VIE -Date of incorporation or acquisition	May 23, 2018
VIA -Principal activities	Business of development and the operation of an Internet of Vehicles network
Guangzhou Yidian Zhihui Chuxing Technology Co Ltd (Yidian Chuxing) [Member] \| CHINA [Member]
Organization Consolidation And Presentation Of Financial Statements [Line Items]
VIE -Date of incorporation or acquisition	May 24, 2018
VIA -Principal activities	Business of provision of online-hailing services through online platform
Guangzhou Xintu Technology Co., Ltd. (Xintu Technology) [Member] \| CHINA [Member]
Organization Consolidation And Presentation Of Financial Statements [Line Items]
VIE -Date of incorporation or acquisition	Apr. 27, 2021
VIA -Principal activities	Surveying and mapping
Guangdong Intelligent Insurance Agency Co Ltd (GIIA, formerly known as Qingdao Miaobao Insurance Agency Co Ltd) [Member] \| CHINA [Member]
Organization Consolidation And Presentation Of Financial Statements [Line Items]
VIE -Date of incorporation or acquisition	Jul. 22, 2022
VIA -Principal activities	Insurance agency
Jiangsu Zhipeng Kongjian Information Technology Co Ltd (Zhipeng Kongjian, formerly known as Jiangsu Zhitu Technology Co Ltd a subsidiary of Xintu Technology) [Member] \| CHINA [Member]
Organization Consolidation And Presentation Of Financial Statements [Line Items]
VIE -Date of incorporation or acquisition	Jun. 23, 2021
VIA -Principal activities	Surveying and mapping

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, 2022 CNY (¥)	Dec. 31, 2021 CNY (¥)	Dec. 31, 2020 CNY (¥)	Feb. 13, 2020 $ / shares
Capital contribution representing a notional amount			¥ 0	¥ 50,000	¥ 0
Zhaoqing Xpeng [Member] \| Variable Interest Entity VIE Activities [Member]
Percentage of Equity interest subscribed						50.00%
Zhaoqing Kunpeng [Member]
Capital contribution representing a notional amount		¥ 0
Percentage of Equity Interest Transferred	50.00%
Cash Consideration	¥ 1
Zhaoqing Kunpeng [Member] \| Variable Interest Entity VIE Activities [Member]
Percentage of Equity interest subscribed						50.00%
Zhaoqing Kunpeng [Member] \| Share Transfer Agreement [Member]
Percentage of equity interest agreed to transfer as per agreement						50.00%
Share price \| $ / shares						$ 1
Chengxing [Member]
Equity interest acquired, percentage			100.00%

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

12 Months Ended

Dec. 31, 2022

CNY (¥)

Kilometers

Dec. 31, 2021

CNY (¥)

Dec. 31, 2020

CNY (¥)

Allowance for credit loss on accounts receivable charged to income statement

¥ 106,272

¥ 609,975

67,654

69,731

¥ 10,039

Allowance for credit loss on accounts receivable current

67,181

34,198

Allowance for credit loss on accounts receivable non current

54,526

32,898

Short-term investments

1,262,129

2,833,763

Inventory write-downs

220,319

162,433

92,612

Research and development expenses

^[1]

5,214,836

4,114,267

1,725,906

Advertising costs

577,569

873,256

517,135

Selling and marketing expenses total

5,028,958

4,276,366

1,737,765

Employer contribution to defined contribution plan

766,915

466,444

152,361

Dividend declared

General and Administrative Expense

1,659,288

1,029,067

1,182,884

Short-term deposits

14,921,688

25,858,007

Long-term deposits

7,353,916

3,217,266

Long-term deposits current

427,466

Impairment of indefinite-lived intangible assets

Other income other subsidies

¥ 109,168

350,596

86,830

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]

¥ 84,371

600,058

General Reserve Fund [Member]

¥ 21,901

9,917

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

10.00%

Appropriations to general reserve fund and statutory surplus fund

¥ 378

6,047

Minimum [Member]

Land use rights amortisation period

49 years 6 months

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]

Land use rights amortisation period

50 years

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

CHINA

Customer Upgrade Programme [Member]

Short-term deposits

¥ 14,921,688

25,858,007

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

¥ 220,319

162,433

92,612

Gain loss on the disposal of propery plant and equipment

¥ 15,682

¥ 36,508

¥ 6,167

[1]	Share-based compensation was allocated in cost of sales and operating expenses as follows:

Summary of Significant Accounting Policies - Summary of Cash and Cash Equivalents (Details) ¥ in Thousands, $ in Thousands	Dec. 31, 2022 CNY (¥)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 CNY (¥)	Dec. 31, 2021 USD ($)
Cash and Cash Equivalents [Line Items]
Cash, Cash Equivalents, and Short-term Investments	¥ 14,607,774		¥ 11,024,906
China, Yuan Renminbi [Member]
Cash and Cash Equivalents [Line Items]
Cash, Cash Equivalents, and Short-term Investments	13,230,745	$ 13,230,745	8,513,644	$ 8,513,644
United States of America, Dollars [Member]
Cash and Cash Equivalents [Line Items]
Cash, Cash Equivalents, and Short-term Investments	1,355,226	194,588	1,788,100	281,083
Hong Kong, Dollars [Member]
Cash and Cash Equivalents [Line Items]
Cash, Cash Equivalents, and Short-term Investments	8,268	$ 9,256	695,738	$ 852,743
Other Currency [Member]
Cash and Cash Equivalents [Line Items]
Cash, Cash Equivalents, and Short-term Investments	¥ 13,535		¥ 27,424

Summary of Significant Accounting Policies - Summary of Account Receivable and Allowance for Credit Loss (Details) - CNY (¥) ¥ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Beginning balance	¥ 67,096	¥ 12,507	¥ 6,719
Current period provision	67,654	69,731	10,039
Write-offs	(13,043)	(15,142)	(4,251)
Ending balance	¥ 121,707	¥ 67,096	12,507
Adoption of ASC Topic 326 [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Beginning balance			4,645
Adoption of ASC Topic 326			¥ 2,074

Summary of Significant Accounting Policies -Summary of Useful Lives of Property Plant and Equipment (Details)	12 Months Ended
	Dec. 31, 2022
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

Summary of Significant Accounting Policies -Summary of Finite Lived Intangible Assets Useful Lives (Details)	12 Months Ended
	Dec. 31, 2022
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

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, 2022	Dec. 31, 2021
Assets
Short-term investments(i) (Note 2(j))	¥ 1,262,129	¥ 2,833,763
Debt investments(ii) (Note 12)	1,626,131	1,338,822
Equity investments with readily determinable fair values(iii) (Note 12)	112,641	0
Long-term Debt, Fair Value	3,000,901	4,172,585
Liabilities
Derivative liabilities – forward exchange contract (Note 14)	0	48,605
Level I [Member]
Assets
Short-term investments(i) (Note 2(j))	0	0
Debt investments(ii) (Note 12)	0	0
Equity investments with readily determinable fair values(iii) (Note 12)	112,641	0
Long-term Debt, Fair Value	112,641	0
Liabilities
Derivative liabilities – forward exchange contract (Note 14)	0	0
Level II [Member]
Assets
Short-term investments(i) (Note 2(j))	1,262,129	2,833,763
Debt investments(ii) (Note 12)	0	0
Equity investments with readily determinable fair values(iii) (Note 12)	0	0
Long-term Debt, Fair Value	1,262,129	2,833,763
Liabilities
Derivative liabilities – forward exchange contract (Note 14)	0	48,605
Level III [Member]
Assets
Short-term investments(i) (Note 2(j))	0	0
Debt investments(ii) (Note 12)	1,626,131	1,338,822
Equity investments with readily determinable fair values(iii) (Note 12)	0	0
Long-term Debt, Fair Value	1,626,131	1,338,822
Liabilities
Derivative liabilities – forward exchange contract (Note 14)	¥ 0	¥ 0

Inventory - Summary of Inventory (Detail) - CNY (¥) ¥ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Inventory Disclosure [Abstract]
Finished goods	¥ 3,059,567	¥ 1,042,719
Raw materials	1,449,596	1,605,197
Work-in-process	12,210	14,005
Total	¥ 4,521,373	¥ 2,661,921

Inventory - Additional Information (Detail) - CNY (¥) ¥ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Inventory Disclosure [Abstract]
Inventory write-downs	¥ 220,319	¥ 162,433	¥ 92,612

Prepayments and Other Current Assets - Summary of Prepayments and Other Current Assets (Detail) - CNY (¥) ¥ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Prepaid Expense and Other Assets, Current [Abstract]
Deductible input value-added tax	¥ 1,359,581	¥ 484,257
Prepayments	587,289	1,300,805
Deposits	92,023	83,939
Receivables from third party online payment service providers	38,201	78,620
Others	388,990	301,062
Total	¥ 2,466,084	¥ 2,248,683

Property, Plant and Equipment, Net - Summary of Property, Plant and Equipment, Net (Detail) - CNY (¥) ¥ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	¥ 12,492,581	¥ 6,520,808
Less: Accumulated depreciation	(1,788,193)	(1,002,246)
Property, plant and equipment, net	10,606,745	5,424,776
Construction In Process [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	3,858,358	1,760,259
Machinery And Equipment [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	2,589,709	1,123,512
Buildings [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	2,206,923	860,556
Molds and toolings [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	1,505,876	1,178,385
Less: Impairment	(97,643)	(93,786)
Vehicles [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	867,434	717,976
Leasehold Improvements [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	681,341	376,219
Charging Infrastructure [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	369,994	262,678
Computer And Electronic Equipment [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	282,082	147,273
Others [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	¥ 130,864	¥ 93,950

Property, Plant and Equipment, Net - Additional Information (Detail) - CNY (¥) ¥ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Jul. 01, 2022
Property, Plant and Equipment [Line Items]
Depreciation expenses	¥ 915,481	¥ 573,247	¥ 302,974
Finance Lease, Liability	926,022	0
Construction In Progress [Member]
Property, Plant and Equipment [Line Items]
Interest expenses capitalized	84,998	10,598	¥ 26,351
Tools, Dies And Molds [Member]
Property, Plant and Equipment [Line Items]
Accumulated impairment loss	¥ (97,643)	¥ (93,786)
Property, Plant and Equipment [Member]
Property, Plant and Equipment [Line Items]
Finance Lease, Liability				¥ 1,001,820

Intangible Assets, Net - Schedule of Intangible Assets, Net (Detail) - CNY (¥) ¥ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Schedule Of Finite Lived And Indefinite Lived Intangible Assets Excluding Goodwill [Line Items]
Gross Carrying Amount	¥ 391,699	¥ 160,879
Accumulated amortization	(123,056)	(57,342)
Impairment Amount	(26,418)
Total	242,225	103,537
Indefinite-lived intangible assets	800,747	775,187
Total intangible assets Gross Carrying Amount	1,192,446	936,066
Total intangible assets - Accumulated amortization	(123,056)	(57,342)
Total intangible assets - Impairment Amount	(26,418)
Total intangible assets - Net Carrying Amount	1,042,972	878,724
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
Surveying And Mapping Qualification [Member]
Schedule Of Finite Lived And Indefinite Lived Intangible Assets Excluding Goodwill [Line Items]
Gross Carrying Amount	250,000	250,000
Total	250,000	250,000
Others [Member]
Schedule Of Finite Lived And Indefinite Lived Intangible Assets Excluding Goodwill [Line Items]
Gross Carrying Amount	56,747	31,187
Total	56,747	31,187
Software and Software Development Costs [Member]
Schedule Of Finite Lived And Indefinite Lived Intangible Assets Excluding Goodwill [Line Items]
Gross Carrying Amount	389,409	158,589
Accumulated amortization	(120,766)	(55,052)
Impairment Amount	(26,418)
Total	242,225	103,537
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)

Intangible Assets, Net - Schedule of Intangible Assets, Net (Parenthetical) (Detail) - CNY (¥) ¥ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Finite lived intangible assets amortisation expense	¥ 65,714	¥ 25,875	¥ 20,169

Intangible Assets, Net - Schedule of Finite-Lived Intangible Assets, Future Amortization Expense (Detail) - CNY (¥) ¥ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Within 1 year	¥ 117,926
Between 1 and 2 years	88,829
Between 2 and 3 years	22,783
Between 3 and 4 years	9,226
Between 4 and 5 years	2,283
Thereafter	1,178
Total	¥ 242,225	¥ 103,537

Intangible Assets, Net - Additional Information (Detail) - CNY (¥) ¥ in Thousands			1 Months Ended		12 Months Ended
	Jun. 23, 2021	May 20, 2021	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Schedule Of Finite Lived And Indefinite Lived Intangible Assets Excluding Goodwill [Line Items]
Impairment of indefinite-lived intangible assets					¥ 0	¥ 0	¥ 0
Impairment of intangible assets					26,418	0	¥ 0
Indefinite-lived intangible assets					800,747	775,187
Manufacturing License [Member]
Schedule Of Finite Lived And Indefinite Lived Intangible Assets Excluding Goodwill [Line Items]
Impairment of indefinite-lived intangible assets					0	0
License Plates [Member]
Schedule Of Finite Lived And Indefinite Lived Intangible Assets Excluding Goodwill [Line Items]
Indefinite-lived intangible assets					34,747	31,187
Insurance Agency Qualification [Member]
Schedule Of Finite Lived And Indefinite Lived Intangible Assets Excluding Goodwill [Line Items]
Indefinite-lived intangible assets					22,000
Zhipeng Kongjian [Member]
Schedule Of Finite Lived And Indefinite Lived Intangible Assets Excluding Goodwill [Line Items]
Business combination indfeinitely lived intangible assets acquired	¥ 250,000
Impairment of indefinite-lived intangible assets					¥ 0	¥ 0
Zhipeng Kongjian [Member] \| Variable Interest Entity VIE Activities [Member]
Schedule Of Finite Lived And Indefinite Lived Intangible Assets Excluding Goodwill [Line Items]
Equity method investment ownership percentage					100.00%
Related Party Of The Acquiree [Member]
Schedule Of Finite Lived And Indefinite Lived Intangible Assets Excluding Goodwill [Line Items]
Business combination intangible asset acquistion cash consideration payable				¥ 510,000
Cash consideration			¥ 16,000
Related Party Of The Acquiree [Member] \| Variable Interest Entity VIE Activities [Member]
Schedule Of Finite Lived And Indefinite Lived Intangible Assets Excluding Goodwill [Line Items]
Equity method investment ownership percentage				100.00%
Related Party Of The Acquiree [Member] \| Zhipeng Kongjian [Member]
Schedule Of Finite Lived And Indefinite Lived Intangible Assets Excluding Goodwill [Line Items]
Business combination intangible asset acquistion cash consideration payable		¥ 250,000
Related Party Of The Acquiree [Member] \| Zhipeng Kongjian [Member] \| Variable Interest Entity VIE Activities [Member]
Schedule Of Finite Lived And Indefinite Lived Intangible Assets Excluding Goodwill [Line Items]
Equity method investment ownership percentage		100.00%
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]
Business combination intangible assets acquired				¥ 494,000

Land Use Rights, Net - Summary of Land Use Rights and Related Accumulated Amortization (Detail) - Use Rights [Member] - CNY (¥) ¥ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Schedule Of Land Use Rights Finite Lived [Line Items]
Land use rights	¥ 2,822,757	¥ 620,065
Less: Accumulated amortization	(74,903)	(24,594)
Total	¥ 2,747,854	¥ 595,471

Land Use Rights, Net - Additional Information (Detail) - CNY (¥) ¥ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Jul. 01, 2022
Schedule Of Land Use Rights Finite Lived [Line Items]
Prepayment for acquisition of land use rights	¥ 0	¥ 1,507,170	¥ 130,260
Land right of use asset				¥ 389,508
Land [Member]
Schedule Of Land Use Rights Finite Lived [Line Items]
Amortization of land use rights	50,309	9,642	¥ 5,323
Plants and Buildings [Member] \| CHINA
Schedule Of Land Use Rights Finite Lived [Line Items]
Prepayment for acquisition of land use rights	¥ 2,202,692	¥ 355,179

Installment Payment Receivables, Net - Summary of sales type lease net investment in lease before allowance or credit loss (Detail) - CNY (¥) ¥ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Sales-Type Lease, Net Investment in Lease, before Allowance for Credit Loss, Alternative [Abstract]
Current portion of installment payment receivables, net	¥ 1,294,665	¥ 887,202
Non-current portion of installment payment receivables, net	2,188,643	1,863,492
Total	¥ 3,483,308	¥ 2,750,694

Installment Payment Receivables, Net - Additional Information (Detail) - CNY (¥) ¥ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Allowance for Credit Losses	¥ 3,483,308
Current Portion of Installment Payment Receivables	1,294,665	¥ 887,202
Long-Term Portion of Installment Payment Receivables	2,188,643	1,863,492
Interest Income [Member]
Interest income	204,765	89,895	¥ 17,115
Allowance for Credit Losses	88,144	51,131
Current Portion of Installment Payment Receivables	1,328,283	905,435
Long-Term Portion of Installment Payment Receivables	¥ 2,243,169	¥ 1,896,390

Installment Payment Receivables, Net - Summary of sales-type and direct financing leases, lease receivable, maturity (Detail) ¥ in Thousands	Dec. 31, 2022 CNY (¥)
Sales-type and Direct Financing Leases, Lease Receivable, Fiscal Year Maturity [Abstract]
Within 1 year	¥ 1,511,239
Between 1 and 2 years	1,084,424
Between 2 and 3 years	744,784
Between 3 and 4 years	482,688
Between 4 and 5 years	161,313
Thereafter	5,298
Total receivables of installment payments	3,989,746
Less: Unrealized finance income	(418,294)
Installment payment receivables, gross	3,571,452
Less: Allowance for installment payment receivables	(88,144)
Installment payment receivables - net	¥ 3,483,308

Long-Term Investments - Schedule of Long-term investments (Detail) - CNY (¥) ¥ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Schedule Of LongTermInvestments [Line Items]
Beginning balance	¥ 1,549,176	¥ 1,000
Additons	730,477	959,855
Fair value change through earnings	25,062	591,506
Share of results of equity method investees	4,117	0	¥ 0
Disposals (Note 26(5))	(165,000)	0	(16,000)
Foreign currency translation	151,200	(3,185)
Ending balance	2,295,032	1,549,176	1,000
Equity Securities [Member]
Schedule Of LongTermInvestments [Line Items]
Beginning balance	210,354	1,000
Additons	0	209,900
Fair value change through earnings	95,752	0
Changes from equity investment to debt investment	(116,129)
Foreign currency translation	1,023	(546)
Ending balance	191,000	210,354	1,000
Equity investments with readily determinable fair values [Member]
Schedule Of LongTermInvestments [Line Items]
Beginning balance	0	0
Additons	191,981	0
Fair value change through earnings	(78,282)	0
Foreign currency translation	(1,058)	0
Ending balance	112,641	0	0
Debt Securities [Member]
Schedule Of LongTermInvestments [Line Items]
Beginning balance	1,338,822	0
Additons	209,451	749,955
Fair value change through earnings	7,592	591,506
Changes from equity investment to debt investment	116,129
Disposals (Note 26(5))	(165,000)
Foreign currency translation	119,137	(2,639)
Ending balance	1,626,131	1,338,822	0
Equity method investments [Member]
Schedule Of LongTermInvestments [Line Items]
Beginning balance	0	0
Additons	329,045	0
Share of results of equity method investees	4,117
Foreign currency translation	32,098	0
Ending balance	¥ 365,260	¥ 0	¥ 0

Long-Term Investments - Additional Information (Detail) ¥ in Thousands, $ in Thousands, $ in Thousands	1 Months Ended				12 Months Ended
	Oct. 31, 2022 CNY (¥)	Oct. 31, 2022 HKD ($)	Jul. 31, 2022 CNY (¥)	Apr. 30, 2022 CNY (¥)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 CNY (¥)	Dec. 31, 2022 CNY (¥)	Dec. 31, 2022 USD ($)	Jul. 31, 2022 USD ($)	Mar. 31, 2022	Jan. 31, 2022 CNY (¥)	Oct. 31, 2021 CNY (¥)	Oct. 31, 2021 USD ($)	Apr. 30, 2021 CNY (¥)	Jan. 31, 2021 CNY (¥)
Schedule Of LongTermInvestments [Line Items]
Equity Method Investments							¥ 329,045	$ 51,874
Other equity investments						¥ 100,000
Equity Method Investments, Fair Value Disclosure						0	¥ 112,641
Subscription of equity investment \| $					$ 150,000
Percentage of financial interests hold by limited partner							60.70%	60.70%
Percentage of financial interests										60.70%
Percentage of financial interests hold by other third party investors							39.30%	39.30%
Light Detection and Ranging [Member]
Schedule Of LongTermInvestments [Line Items]
Proceeds from sale of debt instrument				¥ 100,000
Semiconductors [Member]
Schedule Of LongTermInvestments [Line Items]
Other equity investments	¥ 65,000										¥ 65,000
Batteries [Member]
Schedule Of LongTermInvestments [Line Items]
Other equity investments				¥ 50,000
Common Stock [Member]
Schedule Of LongTermInvestments [Line Items]
Prepayment of minority equity interest						50,000
Payment to acquire minority equity interest	¥ 141,981	$ 156,982
Dogotix [Member]
Schedule Of LongTermInvestments [Line Items]
Equity Method Investments			¥ 94,451						$ 14,000					¥ 19,900
Other equity investments						¥ 190,000
Equity Method Investments, Fair Value Disclosure			95,752
Investments, Fair Value Disclosure												¥ 41,258	$ 6,440
Changes from equity investment to debt investment			¥ 116,129
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

Other Non-current Assets - Summary of Other Non-current Assets (Detail) - CNY (¥) ¥ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Other Assets, Noncurrent [Abstract]
Long-term deposits	¥ 151,914	¥ 128,791
Prepayments for purchase of property and equipment	47,258	20,888
Prepayment for purchase of land use rights		1,507,170
Prepayments for subscription of equity securities		50,000
Others	2,099	23,637
Total	¥ 201,271	¥ 1,730,486

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

Accruals and Other Liabilities - Summary of Accruals and Other Liabilities (Detail) - CNY (¥) ¥ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Accounts Payable and Accrued Liabilities, Current [Abstract]
Payables for purchase of property, plant and equipment	¥ 1,624,432	¥ 843,732
Payable for R&D expenses	1,023,344	939,488
Employee compensation payables	729,806	810,730
Payables for marketing events	483,059	679,120
Accrued expenses	417,396	364,647
Deposits from third parties	386,412	241,468
Warranty provisions	216,260	105,068
Advances from customers	113,730	208,281
Tax payables	51,147	73,755
Interest payables	39,082	54,191
Refundable deposit from customers	26,806	18,752
Debt from a third party investor	0	106,596
Derivative liabilities (Note 5)	0	48,605
Others	472,355	316,674
Total	¥ 5,583,829	¥ 4,811,107

Debt from a third party investor current.

+ References + Details

Accruals and Other Liabilities - Summary of Accruals and Other Current Liabilities (Parenthetical) (Detail) - CNY (¥) ¥ in Thousands				12 Months Ended
	Sep. 30, 2022	Oct. 24, 2019	Oct. 22, 2019	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Sep. 19, 2019
Accounts Payable And Accrued Liabilities Current [Line Items]
Interest payables				¥ 39,082	¥ 54,191
Repayment of debt from third party investors				¥ (98,000)	0	¥ 0
Kunpeng Kenchuang LLP [Member]
Accounts Payable And Accrued Liabilities Current [Line Items]
Interest payables					¥ 8,586
Repayment of debt from third party investors	¥ 98,000
Interest expense, debt	¥ 9,516
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%

Borrowings - Summary of Borrowings (Detail) - CNY (¥) ¥ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Short-term borrowings:
Bank loans	¥ 2,419,210	¥ 0
Long-term borrowings, current portion:
Bank loans	124,500	0
Asset-backed securities	637,359	0
Total current borrowings	3,181,069	0
Long-term borrowings:
Bank loans	4,328,880	1,575,106
Other loans	100,000	100,000
Asset-backed securities	184,177	0
Total non-current borrowings	4,613,057	1,675,106
Total borrowings	¥ 7,794,126	¥ 1,675,106

Borrowings - Additional Information (Detail) - CNY (¥) ¥ in Thousands			12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2022	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	¥ 2,419,210	¥ 0	¥ 2,419,210	¥ 0
Line of credit non current portion	100,000	100,000	100,000	100,000
Long-term Debt					¥ 150,000
Advance Repayment of Long Term Borrowing				700,000
Loans Payable to Bank, Noncurrent	4,328,880	1,575,106	4,328,880	1,575,106
Loans Payable to Bank, Current	124,500	0	124,500	0
long-term bank loans collateralized	846,854	887,687	846,854	887,687
Asset-backed securities current	637,359	0	637,359	0
Asset-backed securities non current	184,177	0	184,177	¥ 0
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%
Banks In Peoples Republic Of China [Member]
Debt Disclosure [Line Items]
Line of credit non current portion	¥ 800,000		¥ 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
Line of Credit Facility, Expiration Date			Jan. 31, 2027
Zhaoqing Hightech Zone Loan Two [Member]
Debt Disclosure [Line Items]
Line of credit non current portion	600,000		¥ 600,000
Line of Credit Facility, Expiration Date			Jan. 31, 2028
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	¥ 797,980	¥ 408,446
Debt instrument, interest rate, stated percentage	5.30%	5.42%	5.30%	5.42%
Zhaoqing Hightech Zone [Member]
Debt Disclosure [Line Items]
Line of credit non current portion	¥ 100,000	¥ 100,000	¥ 100,000	¥ 100,000
Loans Payable to Bank, Noncurrent	784,000	792,000	784,000	¥ 792,000
Loans Payable to Bank, Current	8,000		¥ 8,000
Wuhan Xiaopeng [Member]
Debt Disclosure [Line Items]
Line of credit maximum borrowing capacity						¥ 3,000,000
Proceeds from Long-term Lines of Credit	¥ 1,706,400	¥ 374,660
Debt instrument, interest rate, stated percentage	4.35%	4.65%	4.35%	4.65%
Line of Credit [Member] \| Bank Loan [Member]
Debt Disclosure [Line Items]
Long term line of credit stated interest rate	4.98%		4.98%
Zhaoqing XPeng and Zhaoqing Xiaopeng New Energy [Member]
Debt Disclosure [Line Items]
Line of credit maximum borrowing capacity	¥ 397,000	¥ 768,000	¥ 397,000	¥ 768,000
Line of Credit Facility, Current Borrowing Capacity	¥ 39,700	¥ 76,800	¥ 39,700	¥ 76,800
Debt instrument, interest rate, stated percentage	3.35%	3.35%	3.35%	3.35%
Zhaoqing Xiaopeng Automobile Co Ltd Zhaoqing XPeng [Member] \| 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
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
Other Short Term Loans Payable To Banks [Member]
Debt Disclosure [Line Items]
Short term debt weighted average effective rate of interest at point of time	3.53%		3.53%

Other Non-Current Liabilities - Summary of Other Non-Current Liabilities (Detail) - CNY (¥) ¥ in Thousands	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Other Liabilities, Noncurrent [Abstract]
Debt from third party investors	¥ 1,763,062	¥ 1,708,062
Government grants	318,242	174,005
Warranty provisions	424,802	266,072	¥ 79,757
Total	¥ 2,506,106	¥ 2,148,139

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, 2022	Dec. 31, 2021	Dec. 31, 2020	Mar. 31, 2021
Other Liabilities Noncurrent [Line Items]
Interest expense paid					¥ 132,192	¥ 55,336	¥ 22,451
Guangdong U Trust [Member]
Other Liabilities Noncurrent [Line Items]
Payment to acquire interest in limited liability partnership					¥ 26,856	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					¥ 69,973	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
Guangdong Yuecai Industry [Member] \| Chengxing [Member]
Other Liabilities Noncurrent [Line Items]
Proceeds from non-controlling interests						500,000
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	¥ 6,233
Interest rate on limited liability partnership investment					4.00%	4.00%
Interest expense paid					¥ 6,400
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%

Other Non-Current Liabilities - Summary of Movements of Accrued Warranty (Detail) - CNY (¥) ¥ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Standard Product Warranty Disclosure [Abstract]
Accrued warranty - beginning of year	¥ 371,140	¥ 111,351	¥ 34,597
Warranty costs incurred	(61,551)	(32,352)	(925)
Provision for warranty	331,473	292,141	77,679
Accrued warranty - end of year	641,062	371,140	111,351
Less: Current portion of warranty	(216,260)	(105,068)	(31,594)
Non-current portion of warranty	¥ 424,802	¥ 266,072	¥ 79,757

Leases - Schedule of Balance Sheet Information Related to Leases (Detail) - CNY (¥) ¥ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Operating Lease
Total operating lease assets	¥ 2,348,179	¥ 1,561,175
Lease liabilities - current	490,811	373,488
Lease liabilities - non current	1,854,576	1,189,754
Total operating lease liabilities	2,345,387	1,563,242
Finance lease
Property, plant and equipment, at cost	1,001,820	0
Accumulated depreciation	(25,046)	0
Property, plant and equipment, net	976,774	0
Finance lease liabilities - current	128,279	0
Finance lease liabilities - non current	797,743	0
Total finance lease liabilities	926,022	0
Land use rights, net [Member]
Operating Lease
Total operating lease assets	393,561	0
Right-of-use assets, net [Member]
Operating Lease
Total operating lease assets	¥ 1,954,618	¥ 1,561,175

Leases - Summary of Components of Operating Lease Expense (Detail) - CNY (¥) ¥ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Operating Lease Expense [Abstract]
Operating lease expense	¥ 595,032	¥ 340,744	¥ 125,867
Short-term lease expense	265,800	102,901	30,201
Total operating lease expenses	860,832	443,645	156,068
Finance Lease Expense [Abstract]
Amortization expense	25,046	0	0
Interest expense	22,846	0	0
Total finance lease expenses	47,892	0	0
Total lease expenses	¥ 908,724	¥ 443,645	¥ 156,068

Leases - Schedule of Other Information Related to Operating Leases (Detail)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Weighted Average Remaining Lease Term [Abstract]
Operating leases	5 years 1 month 6 days	5 years 3 months 18 days	4 years
Finance leases	6 years 7 months 6 days
Land use rights	49 years 6 months
Weighted Average Discount Rate [Abstract]
Operating leases	4.78%	4.71%	4.43%
Finance leases	4.90%
Land use rights	4.90%

Leases - Summary of Cash Flow Information Related to Leases (Detail) - CNY (¥) ¥ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash outflows from operating leases	¥ 486,260	¥ 289,456	¥ 132,440
Operating cash outflows from finance leases (interest payments)	22,846	0	0
Financing cash outflows from finance leases	15,355	0	0
Leased assets obtained in exchange for operating lease liabilities	1,162,151	1,329,021	130,560
Leased assets obtained in exchange for finance lease liabilities	¥ 1,001,820	¥ 0	¥ 0

Leases - Summary of Maturities of The Group's Operating Lease Liabilities (Detail) - CNY (¥) ¥ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Finance Lease
Within 1 year	¥ 184,626
Between 1 and 2 years	59,371
Between 2 and 3 years	31,767
Between 3 and 4 years	31,767
Between 4 and 5 years	34,835
Thereafter	857,722
Total minimum lease payments	1,200,088
Less: Interest	(274,066)
Present value of lease obligations	926,022	¥ 0
Less: Current portion	(128,279)	0
Non - current portion of lease obligations	797,743	0
Operating Lease
Within 1 year	593,383
Between 1 and 2 years	425,187
Between 2 and 3 years	322,100
Between 3 and 4 years	291,060
Between 4 and 5 years	210,323
Thereafter	930,901
Total minimum lease payments	2,772,954
Less: Interest	(427,567)
Present value of lease obligations	2,345,387	1,563,242
Less: Current portion	(490,811)	(373,488)
Non - current portion of lease obligations	¥ 1,854,576	¥ 1,189,754

Leases - Additional Information (Detail) - CNY (¥) ¥ in Thousands		1 Months Ended	12 Months Ended
	Jun. 30, 2022	Jul. 31, 2022	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Jul. 01, 2022
Lessee, Lease, Description [Line Items]
Operating lease payments			¥ 486,260	¥ 289,456	¥ 132,440
Property, plant and equipment, gross			12,492,581	¥ 6,520,808
Land right of use asset						¥ 389,508
Guangzhou GET New Energy [Member]
Lessee, Lease, Description [Line Items]
Operating lease payments	¥ 60,443	¥ 57,900
Property, plant and equipment, gross			1,300,000			1,001,820
Land right of use asset						¥ 389,508
Guangzhou GET New Energy [Member] \| Subsequent Paid [Member]
Lessee, Lease, Description [Line Items]
Property, plant and equipment, gross			¥ 183,555

Revenues - Summary of Revenues (Detail) - CNY (¥) ¥ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Disaggregation of Revenue [Line Items]
Revenues	¥ 26,855,119	¥ 20,988,131	¥ 5,844,321
Vehicle Sales [Member]
Disaggregation of Revenue [Line Items]
Revenues	24,839,637	20,041,955	5,546,754
Services And Others [Member]
Disaggregation of Revenue [Line Items]
Revenues	¥ 2,015,482	¥ 946,176	¥ 297,567

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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Deferred Revenue - Additional Information (Detail) ¥ in Thousands	12 Months Ended
	Dec. 31, 2022 CNY (¥) Kilometers	Dec. 31, 2021 CNY (¥)	Dec. 31, 2020 CNY (¥)	Dec. 31, 2019 CNY (¥)
Capitalized Contract Cost [Line Items]
Deferred revenue \| ¥	¥ 1,083,249	¥ 897,288	¥ 308,384	¥ 85,498
Performance obligation satisfied over time percentage	36.00%
Performance obligation satisfied over time explanation	January 1, 2023 to December 31, 2023
Remaining performance obligation percentage	64.00%
Remaining performance obligation expected timing of satisfaction explanation	January 1, 2024 to December 31, 2032
Vehicle [Member]
Capitalized Contract Cost [Line Items]
Free charging period	4 years
Free charging kilometers \| Kilometers	100,000

Deferred Revenue - Deferred Revenue Disclosure (Detail) - CNY (¥) ¥ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Deferred Revenue Disclosure [Abstract]
Deferred revenue - beginning of year	¥ 897,288	¥ 308,384	¥ 85,498
Additions	24,344,226	19,339,153	5,297,728
Recognition	(24,158,265)	(18,750,249)	(5,074,842)
Deferred revenue - end of year	1,083,249	897,288	308,384
Less: Deferred revenue, current portion	(389,243)	(418,227)	(163,617)
Deferred revenue, non-current portion	¥ 694,006	¥ 479,061	¥ 144,767

Manufacturing in Collaboration with Haima Auto - Additional Information (Detail) ¥ in Thousands			12 Months Ended
	Dec. 31, 2021	Mar. 31, 2017 units	Dec. 31, 2022 CNY (¥)	Dec. 31, 2021 CNY (¥)
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			¥ 0	¥ 43,755

Convertible Redeemable Preferred Shares - Summary of Issuance of Convertible Redeemable Preferred Shares (Detail) ¥ in Thousands	Aug. 06, 2020 CNY (¥) shares	Jul. 29, 2020 CNY (¥) shares	Jul. 24, 2020 CNY (¥) shares	Jul. 22, 2020 CNY (¥) shares	May 26, 2020 CNY (¥) shares	May 11, 2020 CNY (¥) shares	Apr. 10, 2020 CNY (¥) shares	Dec. 02, 2019 CNY (¥) shares	Aug. 01, 2018 CNY (¥) shares	Mar. 26, 2018 CNY (¥) shares	Jan. 05, 2018 CNY (¥) shares	Nov. 27, 2017 CNY (¥) shares	Jun. 09, 2017 CNY (¥) shares	Aug. 06, 2020 $ / shares	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
Series A Preferred Stock [Member]
Convertible Redeemable Preferred Shares [Line Items]
Stock issued during period, shares, stock splits \| shares												50,540,875	27,567,750
Sale of stock, price per share \| $ / shares																									$ 6.08	$ 6.08
Sale of stock, consideration received on transaction \| ¥												¥ 308,000	¥ 168,000
Series A1 Preferred Stock [Member]
Convertible Redeemable Preferred Shares [Line Items]
Stock issued during period, shares, stock splits \| shares											67,802,375
Sale of stock, price per share \| $ / shares																								$ 6.8
Sale of stock, consideration received on transaction \| ¥											¥ 460,000
Series A2 Preferred Stock [Member]
Convertible Redeemable Preferred Shares [Line Items]
Stock issued during period, shares, stock splits \| shares											11,671,400
Sale of stock, price per share \| $ / shares																								$ 8.56
Sale of stock, consideration received on transaction \| ¥											¥ 100,000
Series B Preferred Stock [Member]
Convertible Redeemable Preferred Shares [Line Items]
Stock issued during period, shares, stock splits \| shares										160,481,700
Sale of stock, price per share \| $ / shares																							$ 13.72
Sale of stock, consideration received on transaction \| ¥										¥ 2,200,000
Series B1 Preferred Stock [Member]
Convertible Redeemable Preferred Shares [Line Items]
Stock issued during period, shares, stock splits \| shares									133,272,750
Sale of stock, price per share \| $ / shares																						$ 21.76
Sale of stock, consideration received on transaction \| ¥									¥ 2,900,000
Series B2 Preferred Stock [Member]
Convertible Redeemable Preferred Shares [Line Items]
Stock issued during period, shares, stock splits \| shares									38,163,575
Sale of stock, price per share \| $ / shares																						$ 25.04
Sale of stock, consideration received on transaction \| ¥									¥ 955,000
Series C Preferred Stock [Member]
Convertible Redeemable Preferred Shares [Line Items]
Stock issued during period, shares, stock splits \| shares	207,588,515	207,588,515	207,588,515	207,588,515	318,363	795,907	26,137,425	79,590,650
Sale of stock, price per share \| $ / shares														$ 30	$ 30	$ 30	$ 30	$ 27	$ 27	$ 27	$ 26.48
Sale of stock, consideration received on transaction \| ¥	¥ 6,271,720	¥ 6,271,720	¥ 6,271,720	¥ 6,271,720	¥ 8,555	¥ 21,231	¥ 693,123	¥ 2,107,860

Convertible Redeemable Preferred Shares - Additional Information (Detail) ¥ in Thousands	12 Months Ended
	Dec. 31, 2022 CNY (¥)
Convertible Redeemable Preferred Shares [Line Items]
Stockholders' equity note, stock split, conversion ratio	1:1
Percent of holders for series	80.00%
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]
Debt instrument, interest rate, stated percentage	12.00%
Stock liquidation percent	120.00%
Liquidation two [Member]
Convertible Redeemable Preferred Shares [Line Items]
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 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%

Convertible Redeemable Preferred Shares - Summary of Preferred Shares Activities (Details) ¥ in Thousands	12 Months Ended
	Dec. 31, 2020 CNY (¥) shares
Disclosure Of Preferred Shares Activities [Line Items]
Beginning balance (Shares) \| shares	566,893,175
Beginning balance	¥ 9,693,478
Issuance of Preferred Shares of Series C,Shares \| shares	234,840,210
Issuance Of Preferred Shares Of Series C Value	¥ 6,639,361
Accretion on Preferred Shares to redemption value post extinguishment	¥ 2,157,744
Conversion of Preferred Shares to Ordinary Shares upon the completion of the IPO,Shares \| shares	(801,733,385)
Conversion of Preferred Shares to Ordinary Shares upon the completion of the IPO	¥ (18,490,583)
Ending balance (Shares) \| shares	0
Ending balance	¥ 0
Redeemable Preferred Stock [Member]
Disclosure Of Preferred Shares Activities [Line Items]
Beginning balance (Shares) \| shares	0
Beginning balance	¥ 0
Series A Preferred Stock [Member]
Disclosure Of Preferred Shares Activities [Line Items]
Beginning balance (Shares) \| shares	78,108,625
Beginning balance	¥ 597,559
Accretion on Preferred Shares to redemption value post extinguishment	¥ 64,863
Conversion of Preferred Shares to Ordinary Shares upon the completion of the IPO,Shares \| shares	(78,108,625)
Conversion of Preferred Shares to Ordinary Shares upon the completion of the IPO	¥ (662,422)
Ending balance (Shares) \| shares	0
Ending balance	¥ 0
Series A1 Preferred Stock [Member]
Disclosure Of Preferred Shares Activities [Line Items]
Beginning balance (Shares) \| shares	67,802,375
Beginning balance	¥ 559,654
Accretion on Preferred Shares to redemption value post extinguishment	¥ 60,854
Conversion of Preferred Shares to Ordinary Shares upon the completion of the IPO,Shares \| shares	(67,802,375)
Conversion of Preferred Shares to Ordinary Shares upon the completion of the IPO	¥ (620,508)
Ending balance (Shares) \| shares	0
Ending balance	¥ 0
Series A2 Preferred Stock [Member]
Disclosure Of Preferred Shares Activities [Line Items]
Beginning balance (Shares) \| shares	11,671,400
Beginning balance	¥ 121,257
Accretion on Preferred Shares to redemption value post extinguishment	¥ 13,635
Conversion of Preferred Shares to Ordinary Shares upon the completion of the IPO,Shares \| shares	(11,671,400)
Conversion of Preferred Shares to Ordinary Shares upon the completion of the IPO	¥ (134,892)
Ending balance (Shares) \| shares	0
Ending balance	¥ 0
Series B Preferred Stock [Member]
Disclosure Of Preferred Shares Activities [Line Items]
Beginning balance (Shares) \| shares	160,481,700
Beginning balance	¥ 2,562,098
Accretion on Preferred Shares to redemption value post extinguishment	¥ 332,743
Conversion of Preferred Shares to Ordinary Shares upon the completion of the IPO,Shares \| shares	(160,481,700)
Conversion of Preferred Shares to Ordinary Shares upon the completion of the IPO	¥ (2,894,841)
Ending balance (Shares) \| shares	0
Ending balance	¥ 0
Series B1 Preferred Stock [Member]
Disclosure Of Preferred Shares Activities [Line Items]
Beginning balance (Shares) \| shares	133,272,750
Beginning balance	¥ 3,080,443
Accretion on Preferred Shares to redemption value post extinguishment	¥ 586,803
Conversion of Preferred Shares to Ordinary Shares upon the completion of the IPO,Shares \| shares	(133,272,750)
Conversion of Preferred Shares to Ordinary Shares upon the completion of the IPO	¥ (3,667,246)
Ending balance (Shares) \| shares	0
Ending balance	¥ 0
Series B2 Preferred Stock [Member]
Disclosure Of Preferred Shares Activities [Line Items]
Beginning balance (Shares) \| shares	35,965,675
Beginning balance	¥ 952,068
Accretion on Preferred Shares to redemption value post extinguishment	¥ 186,043
Conversion of Preferred Shares to Ordinary Shares upon the completion of the IPO,Shares \| shares	(35,965,675)
Conversion of Preferred Shares to Ordinary Shares upon the completion of the IPO	¥ (1,138,111)
Ending balance (Shares) \| shares	0
Ending balance	¥ 0
Series C Preferred Stock [Member]
Disclosure Of Preferred Shares Activities [Line Items]
Beginning balance (Shares) \| shares	79,590,650
Beginning balance	¥ 1,820,399
Issuance of Preferred Shares of Series C,Shares \| shares	234,840,210
Issuance Of Preferred Shares Of Series C Value	¥ 6,639,361
Accretion on Preferred Shares to redemption value post extinguishment	¥ 912,803
Conversion of Preferred Shares to Ordinary Shares upon the completion of the IPO,Shares \| shares	(314,430,860)
Conversion of Preferred Shares to Ordinary Shares upon the completion of the IPO	¥ (9,372,563)
Ending balance (Shares) \| shares	0
Ending balance	¥ 0

Ordinary Shares - Additional Information (Detail) $ / shares in Units, ¥ in Thousands, $ in Thousands										1 Months Ended		12 Months Ended
	Dec. 31, 2022 $ / shares shares	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, 2022 CNY (¥) shares	Dec. 31, 2021 CNY (¥)	Dec. 31, 2020 CNY (¥) shares	Dec. 08, 2021 $ / shares shares	Mar. 30, 2020 $ / shares shares
Stockholders Equity Note [Line Items]
Common stock par or stated value per share \| $ / shares															$ 0.00001
Stock issued during period shares new issues											7,612,147
Proceeds from initial public offering, net of issuance costs \| ¥												¥ 0	¥ 0	¥ 11,410,386
Stock Issued During Period Shares											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]
Issuance of ordinary shares for the vested Restricted Share Units ("RSUs")														17,643,400
Success Sharing Development Holding Limited [Member]
Stockholders Equity Note [Line Items]
Common stock par or stated value per share \| $ / shares									$ 0.00001
Stock repurchased and retired during period shares									100,442,575
Quack Holding Limited [Member]
Stockholders Equity Note [Line Items]
Common stock par or stated value per share \| $ / shares								$ 0.00001	$ 0.00001
Stock issued during period shares new issues								14,850,560	17,643,400
Stock Issued During Period Shares								14,850,560	17,643,400
XPeng Fortune Holding Limited [Member]
Stockholders Equity Note [Line Items]
Common stock par or stated value per share \| $ / shares								$ 0.00001	$ 0.00001
Stock issued during period shares new issues								9,695,210	33,349,070
Stock Issued During Period Shares								9,695,210	33,349,070
Common Class A [Member]
Stockholders Equity Note [Line Items]
Common stock shares authorized	9,250,000,000	9,250,000,000					8,850,000,000								9,250,000,000	3,492,799,650
Common stock par or stated value per share \| $ / shares	$ 0.00001	$ 0.00001
Common stock shares issued	1,376,693,799	1,302,911,192												971,341,066
Common stock shares outstanding	1,371,774,629	1,291,039,502												928,296,786
Stock issued during period shares new issues	12,644,728	35,868,362
Stock Issued During Period Shares	12,644,728	35,868,362
Common Class A [Member] \| Director [Member]
Stockholders Equity Note [Line Items]
Stock Conversion Basis												one-on-one
Conversion of Stock, Shares Converted												61,137,879
Common Class A [Member] \| Share Issue Period One [Member]
Stockholders Equity Note [Line Items]
Common stock shares outstanding	2,030,152	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	10,614,576	9,396,714
Common Class A [Member] \| XPeng Fortune Holding Limited [Member]
Stockholders Equity Note [Line Items]
Issuance of ordinary shares for the vested Restricted Share Units ("RSUs")		40,569,304
Common Class A [Member] \| XPeng Inc [Member]
Stockholders Equity Note [Line Items]
Issuance of ordinary shares for the vested Restricted Share Units ("RSUs")	17,567,096
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	750,000,000
Common stock par or stated value per share \| $ / shares	$ 0.00001	$ 0.00001					$ 0.00001									$ 0.00001
Common stock shares issued	348,708,257	409,846,136
Common stock shares outstanding	348,708,257	409,846,136												429,846,136
Common Class C [Member]
Stockholders Equity Note [Line Items]
Common stock shares authorized							400,000,000
Common stock shares issued														178,618,464

Share-based Compensation - Summary of Share Based Compensation Stock Options Activity (Detail) - $ / shares	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Schedule Of Share Based Compensation Stock Options Activity [Abstract]
Number of Options Outstanding, Beginning balance	91,138,700
Number of Options Outstanding, Granted	3,788,750
Number of Options Outstanding, Forfeited	(2,273,720)
Number of Options Outstanding, Replacement	(92,653,730)
Number of Options Outstanding, Ending balance	0	91,138,700
Weighted Average Exercise Price, Beginning balance	$ 0.0004
Weighted Average Exercise Price, Granted	$ 0.0004
Weighted Average Remaining Contractual Life		4 years 11 months 23 days

Share-based Compensation - Summary of Fair Value of Each Share Options Granted (Detail)	12 Months Ended
	Dec. 31, 2020 ¥ / shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected term (years)	7 years
Exercise price	¥ 0.0004
Risk-free interest rate, Minimum	3.10%
Risk-free interest rate, Maximum	3.31%
Expected dividend yield	0.00%
Expected volatility, Minimum	33.35%
Expected volatility, Maximum	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
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

Share-based Compensation - Additional Information (Detail) ¥ / shares in Units, ¥ in Thousands		3 Months Ended	12 Months Ended
	Oct. 31, 2022 shares	Mar. 31, 2020 ¥ / shares shares	Dec. 31, 2022 CNY (¥) shares	Dec. 31, 2021 CNY (¥) shares	Dec. 31, 2020 CNY (¥) shares	Dec. 31, 2020 $ / shares shares	Dec. 31, 2022 $ / shares	Dec. 31, 2021 $ / shares shares	Dec. 08, 2021 $ / shares	Dec. 31, 2019 shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation , options, exercise price \| $ / shares						$ 0.0004
Share-based compensation			¥ 710,486	¥ 379,948	¥ 996,417
Common stock par or stated value per share \| $ / shares									$ 0.00001
Share Based Compensation Expense			¥ 710,486	379,948	¥ 996,417
Number of options outstanding \| shares			0		0	0		0		91,138,700
Common Class A [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock par or stated value per share \| $ / shares							$ 0.00001	$ 0.00001
Common Class A [Member] \| Chengxing [Member] \| Two Thousand And Nineteen Equity Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized \| shares			161,462,100
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 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			¥ 1,499,587
Number of shares replaced \| shares		75,010,330
Common stock par or stated value per share \| $ / shares							$ 0.00001
Nonvested award, cost not yet recognized, period for Recognition			1 year 10 months 6 days
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period \| shares			28,010,128	7,086,500	39,313,515
Restricted Stock Units (RSUs) [Member] \| Two Thousand And Nineteen Equity Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Nonvested award, excluding option, cost not yet recognized, amount			¥ 178,907
Share Based Compensation Expense			0
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period \| shares	8,020,000.00
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation			¥ 21,994	¥ 0	¥ 0
Number of shares replaced \| shares		17,643,400
Restricted Stock [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 period		4 years

Share-based compensation - Summary of Restricted Stock and Restricted Stock Unit, Activity (Detail) - ¥ / shares	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Outstanding balance	33,860,228	48,288,134
Replacement			75,010,330
Granted	28,010,128	7,086,500	39,313,515
Vested	(19,564,802)	(18,577,032)	(63,314,483)
Forfeited	(6,309,648)	(2,937,374)	(2,721,228)
Outstanding balance	35,995,906	33,860,228	48,288,134
Expected to vest as of December 31, 2020,shares	33,116,233	30,900,145	44,425,083
Weighted average grant-date	¥ 38.75	¥ 14.2
Replacement ,Weighted average grant-date			¥ 4.87
Granted,Weighted average grant-date	68.29	132.02	27.7
Vested,Weighted average grant-date	37.27	11.51	11.66
Forfeited,Weighted average grant-date	81.29	43.23	11.05
Weighted average grant date fair value	¥ 59.72	¥ 38.75	¥ 14.2
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Replacement			17,643,400
Vested			(17,643,400)
Replacement ,Weighted average grant-date			¥ 2.51
Vested,Weighted average grant-date			¥ 2.51

Taxation - Summary of Composition of Income Tax Expenses (Detail) - CNY (¥) ¥ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Components of Income Tax Expense (Benefit), Continuing Operations [Abstract]
Current income tax expenses	¥ 24,731	¥ 25,990	¥ 1,223
Deferred income tax expenses	0	0
Income tax expenses	¥ 24,731	¥ 25,990	¥ 1,223

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

+ References + Details

Taxation - Summary of Reconciliations of the Income Tax Expenses (Detail) - CNY (¥) ¥ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Effective Income Tax Rate Reconciliation, Amount [Abstract]
Loss before income tax expenses and share of results of equity method investees	¥ (9,118,358)	¥ (4,837,106)	¥ (2,730,762)
Income tax expenses computed at the PRC statutory income tax rate of 25%	(2,279,590)	(1,209,277)	(682,691)
Effect of preferential tax rate	202,968	254,061	111,756
Tax-free income	(14,000)	(25,000)
Effect of change in tax rate	16,554	33,454	13,920
Effect of different tax rate of different jurisdictions	322,514	(323,601)	(393,384)
Effect of additional deduction for qualified R&D expenses	(515,288)	(217,395)	(156,713)
Non-deductible expenses	92,906	163,980	234,328
Changes in valuation allowance	2,198,667	1,349,768	874,007
Income tax expenses	¥ 24,731	¥ 25,990	¥ 1,223

Taxation - Summary of Components of Deferred Tax Assets (Detail) - CNY (¥) ¥ in Thousands	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Components of Deferred Tax Assets [Abstract]
Net operating loss carry-forwards	¥ 5,026,589	¥ 3,051,082	¥ 2,036,152
Government grants	72,674	41,565	43,145
Impairment of long-lived assets	17,372	12,239	21,802
Inventory reserve	55,397	7,221	11,233
Accruals and others	591,354	452,612	102,619
Valuation allowance	(5,763,386)	¥ (3,564,719)	¥ (2,214,951)	¥ (1,340,944)
Total deferred tax assets, net	¥ 0

Taxation - Summary of Movement of Valuation Allowance (Detail) - CNY (¥) ¥ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Valuation Allowance [Line Items]
Balance at beginning of the year	¥ 3,564,719	¥ 2,214,951	¥ 1,340,944
Balance at end of the year	5,763,386	3,564,719	2,214,951
Additions [Member]
Valuation Allowance [Line Items]
Valuation allowance	2,221,222	1,511,434	889,877
Loss utilized [Member]
Valuation Allowance [Line Items]
Valuation allowance	(6,001)	(128,212)	(1,950)
Effect of change in tax rate [Member]
Valuation Allowance [Line Items]
Valuation allowance	¥ (16,554)	¥ (33,454)	¥ (13,920)

Taxation - Summary of Tax Loss Carryforwards (Detail) ¥ in Thousands	Dec. 31, 2022 CNY (¥)
Operating Loss Carryforwards [Line Items]
Loss	¥ 24,246,281
Tax losses	912,347
Loss expiring in 2023 [Member]
Operating Loss Carryforwards [Line Items]
Loss	88,608
Loss expiring in 2024 [Member]
Operating Loss Carryforwards [Line Items]
Loss	597,527
Loss expiring in 2025 [Member]
Operating Loss Carryforwards [Line Items]
Loss	1,647,336
Loss expiring in 2026 [Member]
Operating Loss Carryforwards [Line Items]
Loss	3,298,601
Loss expiring in 2027 [Member]
Operating Loss Carryforwards [Line Items]
Loss	5,935,040
Loss expiring in 2028 [Member]
Operating Loss Carryforwards [Line Items]
Loss	1,638,741
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	2,137,147
Loss expiring in 2032 [Member]
Operating Loss Carryforwards [Line Items]
Loss	3,095,721
United States [Member]
Operating Loss Carryforwards [Line Items]
Tax losses	318,404
Hong Kong [Member]
Operating Loss Carryforwards [Line Items]
Tax losses	¥ 593,943

Taxation - Additional Information (Detail) - CNY (¥) ¥ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Operating Loss Carryforwards [Line Items]
Loss	¥ 24,246,281
Tax losses	¥ 912,347
Inland Revenue, Hong Kong [Member]
Operating Loss Carryforwards [Line Items]
Statutory income tax rate	16.50%
Tax losses	¥ 593,943
United States [Member]
Operating Loss Carryforwards [Line Items]
Statutory income tax rate	27.98%	27.98%	27.98%
Tax losses	¥ 318,404
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%
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	¥ 912,347

Loss Per Share - Summary of Earnings Per Share, Basic and Diluted (Detail) - CNY (¥) ¥ / shares in Units, ¥ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Earnings Per Share [Abstract]
Net loss	¥ (9,138,972)	¥ (4,863,096)	¥ (2,731,985)
Accretion on Preferred Shares to redemption value	0	0	(2,157,744)
Net loss attributable to ordinary shareholders of XPeng Inc.	¥ (9,138,972)	¥ (4,863,096)	¥ (4,889,729)
Weighted average number of ordinary shares outstanding-Basic	1,712,533,564	1,642,906,400	754,270,914
Weighted average number of ordinary shares outstanding-Diluted	1,712,533,564	1,642,906,400	754,270,914
Net loss per ordinary share, Basic	¥ (5.34)	¥ (2.96)	¥ (6.48)
Net loss per ordinary share, Diluted	¥ (5.34)	¥ (2.96)	¥ (6.48)

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

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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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Loss Per Share - Additional Information (Detail) - shares	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Restricted Stock Units (RSUs) [Member]
Impairment Effects on Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of EPS	39,259,022	44,422,384	20,841,866

Related Parties - Summary of Related Parties and Nature of Relationship (Detail)	12 Months Ended
	Dec. 31, 2022
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
Hongdi Brian Gu [Member]
Related Party Transaction [Line Items]
Relationship with the company	Honorary Vice Chairman of the Board and President
Tao He [Member]
Related Party Transaction [Line Items]
Relationship with the company	Senior Vice President
HT Flying Car Inc. [Member]
Related Party Transaction [Line Items]
Relationship with the company	A Company Significantly Influenced by the Principal Shareholder
HT Flying Car (Hong Kong) Limited [Member]
Related Party Transaction [Line Items]
Relationship with the company	A Company Significantly Influenced by the Principal Shareholder
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
Rockets Capital L.P [Member]
Related Party Transaction [Line Items]
Relationship with the company	A Partnership Significantly Influenced by the Company
Dogotix [Member]
Related Party Transaction [Line Items]
Relationship with the company	A Company Significantly Influenced by the Principal Shareholder
Dogotix (HongKong) Limited [Member]
Related Party Transaction [Line Items]
Relationship with the company	A Company Significantly Influenced by the Principal Shareholder
Shenzhen Pengxing Smart Co Ltd [Member]
Related Party Transaction [Line Items]
Relationship with the company	A Company Significantly Influenced by the Principal Shareholder
Shenzhen Pengxing Smart Research Co Ltd [Member]
Related Party Transaction [Line Items]
Relationship with the company	A Company Significantly Influenced by the Principal Shareholder
Guangzhou Xuetao [Member]
Related Party Transaction [Line Items]
Relationship with the company	A Company Jointly Controlled by the Senior Vice President

Related Parties - Additional Information (Detail) - CNY (¥) ¥ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Jan. 31, 2023	Jun. 30, 2022	Dec. 31, 2019
Related Party Transaction [Line Items]
Loans from a related party	¥ 0	¥ 0	¥ 1,063,434
Interest expense on the loans from a shareholder	0	0	5,922
Amounts due to a related party	91,111	24,919
Purchases from related party	3,752	2,793
Rental income from a related party	534	40
Purchase of service from related parties	663	54
Disposal of long-term investments	165,000	0	16,000
Interest expenses	132,192	55,336	22,451
Revenue from related parties	2,167
Investment commitment	658,160
Subsequent Event [Member]
Related Party Transaction [Line Items]
Amounts due to a related party				¥ 61,663
Cost of Sales [Member]
Related Party Transaction [Line Items]
Amount due from related parties	2,369
Vice President [Member]
Related Party Transaction [Line Items]
Amounts due to a related party	28,470
Interest expenses	1,021
Debt Securities [Member]
Related Party Transaction [Line Items]
Disposal of long-term investments	165,000
Purchase Of Assets [Member]
Related Party Transaction [Line Items]
Amounts due to a related party	978
Operation Support Service [Member]
Related Party Transaction [Line Items]
Amount due from related parties	44,755
Related Party Transaction, Amounts of Transaction	31,293	36,857	0
XiaopengHe [Member]
Related Party Transaction [Line Items]
Rental expenses to a shareholder	0	10,150	10,150
Purchases from related party	0	698	999
Rental income from a related party	55	862	166
Purchase of service from related parties	0	101
Revenue from related parties		140
XiaopengHe [Member] \| Operation Support Service [Member]
Related Party Transaction [Line Items]
Amount due from related parties		15,804	15,403			¥ 1,578
Purchases from related party	¥ 20,210	2,300	0
Guangzhou Huitian [Member] \| Rental Expense [Member]
Related Party Transaction [Line Items]
Amounts due to a related party		¥ 22,126	¥ 2,793
Tao He [Member] \| Variable Interest Entity VIE Activities [Member]
Related Party Transaction [Line Items]
Equity interest held					50.00%

Commitments and Contingencies - Summary of Capital Expenditures (Details) - CNY (¥) ¥ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Long-term Purchase Commitment [Line Items]
Long-term Purchase Commitment, Amount	¥ 2,379,826	¥ 1,261,759
Property, plant and equipment [Member]
Long-term Purchase Commitment [Line Items]
Long-term Purchase Commitment, Amount	1,721,666	1,241,759
Investments [Member]
Long-term Purchase Commitment [Line Items]
Long-term Purchase Commitment, Amount	¥ 658,160	¥ 20,000

Commitments and Contingencies - Summary of Purchase Expenditures (Detail) - CNY (¥) ¥ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
Purchase commitments on purchase of raw materials	¥ 2,046,326	¥ 5,312,557

Restricted Net Assets - Additional Information (Detail) - CNY (¥) ¥ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Restricted Net Assets	¥ 59,145,690	¥ 41,040,036
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%

Company Financial Statements (Parent Company Only) - Condensed Balance Sheets (Detail) ¥ in Thousands, $ in Thousands	Dec. 31, 2022 CNY (¥)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 CNY (¥)	Dec. 31, 2020 CNY (¥)	Dec. 31, 2019 CNY (¥)
Current assets
Cash and cash equivalents	¥ 14,607,774		¥ 11,024,906
Restricted cash	106,272		609,975
Short-term deposits	14,921,688		25,858,007
Prepayments and other current assets	2,466,084		2,248,683
Total current assets	43,527,421		48,830,736
Non-current assets
Investments in subsidiaries and VIEs	329,045	$ 51,874
Long-term deposits	6,926,450		3,217,266
Long-term investments	2,295,032		1,549,176	¥ 1,000
Total non-current assets	27,963,585		16,820,566
Total assets	71,491,006		65,651,302
Current liabilities
Amounts due to a related party	91,111		24,919
Accurals and other liabilities	5,583,829		4,811,107
Total current liabilities	24,114,853		18,012,664
Total liabilities	34,580,341		23,504,724
SHAREHOLDERS' EQUITY
Additional paid-in capital	60,691,019		59,980,534
Statutory reserves	6,425		6,047
Accumulated deficit	(25,330,916)		(16,191,566)
Accumulated other comprehensive (loss) income	1,544,024		(1,648,549)
Total shareholders' equity	36,910,665		42,146,578	¥ 34,429,809	¥ (6,830,430)
Total liabilities and shareholders' equity	71,491,006		65,651,302
Parent [Member]
Current assets
Cash and cash equivalents	951,656		4,453,841
Restricted cash	0		57,253
Short-term deposits	12,145,309		14,457,154
Prepayments and other current assets	36,541		4,980
Total current assets	13,133,506		18,973,228
Non-current assets
Investments in subsidiaries and VIEs	21,997,908		22,269,421
Long-term deposits	1,416,782		955,907
Long-term investments	431,028		0
Total non-current assets	23,845,718		23,225,328
Total assets	36,979,224		42,198,556
Current liabilities
Amounts due to a related party	61,663		0
Accurals and other liabilities	6,896		51,978
Total current liabilities	68,559		51,978
Total liabilities	68,559		51,978
SHAREHOLDERS' EQUITY
Additional paid-in capital	60,691,019		59,980,534
Statutory reserves	6,425		6,047
Accumulated deficit	(25,330,916)		(16,191,566)
Accumulated other comprehensive (loss) income	1,544,024		(1,648,549)
Total shareholders' equity	36,910,665		42,146,578
Total liabilities and shareholders' equity	36,979,224		42,198,556
Common Class A [Member]
SHAREHOLDERS' EQUITY
Common Stock, Value, Issued	92		87
Common Class A [Member] \| Parent [Member]
SHAREHOLDERS' EQUITY
Common Stock, Value, Issued	92		87
Common Class B [Member]
SHAREHOLDERS' EQUITY
Common Stock, Value, Issued	21		25
Common Class B [Member] \| Parent [Member]
SHAREHOLDERS' EQUITY
Common Stock, Value, Issued	¥ 21		¥ 25

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

12 Months Ended

Dec. 31, 2022

Dec. 31, 2021

Dec. 31, 2020

Operating expenses

Other non-operating income, net

^[1]

¥ (6,688,246)

¥ (5,305,433)

¥ (2,920,649)

Total operating expenses

^[1]

(11,903,082)

(9,419,700)

(4,646,555)

Loss from operations

(8,705,523)

(6,579,405)

(4,293,736)

Interest income

1,058,771

743,034

133,036

Interest expense

(132,192)

(55,336)

(22,451)

36,318

70,253

9,183

Exchange gain (loss) from foreign currency transactions

(1,460,151)

313,580

81,181

Fair value gain on derivative assets or derivative liabilities

59,357

79,262

1,362,025

Loss before income tax expenses and share of results of equity method investees

(9,118,358)

(4,837,106)

(2,730,762)

Income tax expenses

24,731

25,990

1,223

Share of results of equity method investees

4,117

Net loss

(9,138,972)

(4,863,096)

(2,731,985)

Net loss attributable to ordinary shareholders of XPeng Inc.

2,157,744

(9,138,972)

(4,863,096)

(4,889,729)

Other comprehensive (loss) income

Foreign currency translation adjustment, net of nil tax

3,192,573

(918,168)

(724,433)

Total comprehensive loss attributable to XPeng Inc.

(5,946,399)

(5,781,264)

(3,456,418)

Comprehensive loss attributable to ordinary shareholders of XPeng Inc.

(5,946,399)

(5,781,264)

(5,614,162)

Parent [Member]

Operating expenses

Equity in loss of subsidiaries and VIEs

(22,896)

(8,966)

(13,430)

Total operating expenses

(22,896)

(8,966)

(13,430)

Loss from operations

(22,896)

(8,966)

(13,430)

Interest income

314,668

208,463

43,001

Interest expense

(5,935)

(7,074,057)

(5,696,578)

(4,487,049)

Other non-operating income, net

35,867

84,620

Exchange gain (loss) from foreign currency transactions

(2,380,873)

470,103

369,403

Fair value loss on long-term investments

(75,155)

Fair value gain on derivative assets or derivative liabilities

59,357

79,262

1,362,025

Loss before income tax expenses and share of results of equity method investees

(9,143,089)

(4,863,096)

(2,731,985)

Income tax expenses

Share of results of equity method investees

4,117

Net loss

(9,138,972)

(4,863,096)

(2,731,985)