XPENG and XP Inc. Drive Growth Through Divergent Paths in Q3

XPENG and XP Inc. Reported strong Q3 financial growth amid expansion efforts.

XPENG Inc. (NYSE: XPEV) and XP Inc. (XP) both posted significant financial gains in the third quarter of 2025, driven by robust revenue growth, expanded operations, and strong market inflows. The Chinese smart electric vehicle (Smart EV) manufacturer and the Brazilian financial services platform highlighted contrasting yet complementary strategies to boost market share and profitability.

XPENG reported total third-quarter revenues of RMB20.38 billion (US$2.86 billion), a 101.8% year-over-year increase, fueled by a 149.3% surge in vehicle deliveries to 116,007 units. The company's gross margin expanded to 20.1%, up 4.8 percentage points from 2024, while its vehicle margin rose to 13.1%. XPENG attributed the gains to higher demand for its G9 and X9 models and cost optimization measures. The firm also expanded its physical sales network to 690 stores across 242 cities and added 1,623 ultra-fast charging stations.

Meanwhile, XP Inc. reported a net inflow of R$29 billion in the third quarter, with total client assets reaching R$1.9 trillion-a 16% year-over-year increase. The company's retail net inflow grew 30% quarter-over-quarter to R$20 billion, though it declined 18% year-over-year. XP Inc. also noted a 15% rise in retirement plan client assets to R$90 billion and a 9% year-over-year increase in credit card transaction value to R$13.1 billion.

Both companies demonstrated resilience amid macroeconomic challenges. XPENG's net loss narrowed to RMB0.38 billion in Q3 2025 from RMB1.81 billion in the same period of 2024, while XP Inc. maintained a high NPS of 74, underscoring its focus on client satisfaction.

The contrasting business models of XPENG and XP Inc. reflect divergent approaches to growth. XPENG prioritizes hardware and infrastructure expansion, while XP Inc. leverages digital financial services and client acquisition. Analysts suggest both strategies position the firms to capitalize on their respective markets in 2026.