NIO reported Q1 2026 revenue of 25.53 billion yuan, up 112.2% year-over-year, with operating profit of 66.8 million yuan for two consecutive profitable quarters. Vehicle gross margin reached 18.8%, a four-year high, with cash reserves at 48.2 billion yuan.
XPeng's Q1 2026 revenue reached ¥13.03 billion, down 17.6% year-over-year, with deliveries of 62,700 units falling 33.3%—underperforming the NEV passenger vehicle market's 21.1% decline. Service and other revenue surged 41.2% to ¥2.03 billion, driven by the Volkswagen tech platform partnership. Three new models are scheduled for launch, with GX production ramping up.
XPeng's Q1 2026 financial report shows gross margin reaching 20.6%, an all-time high. Quarterly deliveries totaled 62,682 units, with cash reserves growing to 42.09 billion yuan. Revenue for the quarter reached 15.81 billion yuan, up 62.8% year-over-year. This marks the third consecutive quarter of gross margin improvement.
Li Auto's Q1 2026 financial report shows revenue of 23 billion yuan, up 52.3% year-over-year. Deliveries reached 95,142 units, up 47.6%. Gross margin was 19.8%, maintaining above 19% for five consecutive quarters. The company announced a share buyback program of up to 1 billion USD and maintained its full-year delivery target of 700,000 units.
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