XPeng's stock fell nearly 7% despite a significant 60.2% year-over-year revenue increase to 8.11 billion RMB in Q2 2024, primarily due to missing Wall Street's expectations. Analysts had anticipated a higher revenue of 8.17 billion RMB, and concerns over rising competition from peers like BYD and Tesla also weighed on investor sentiment. The automaker reported a narrower net loss of 1.28 billion yuan and aims for vehicle deliveries of 41,000 to 45,000 units in Q3, reflecting a proactive strategy to rejuvenate its product lineup with new models, including the upcoming MONA M03. Co-President Hongdi Brian Gu attributed improvements in gross margin to strategic partnerships, particularly with Volkswagen, which is set to co-develop vehicles for the Chinese market. Despite the challenges, XPeng's management remains optimistic about future growth driven by technological advancements and a strong product cycle, with significant investments in self-driving technologies. The company is also addressing external pressures, such as potential European tariffs, as it navigates a competitive landscape.