Xpeng (XPEV) Research & Development (2019 - 2026)
Xpeng (XPEV) posted quarterly Research & Development of -$421.4 million for Q1 2026, down 54.4% year-over-year from -$924.1 million in Q1 2025, and down 2.53% quarter-over-quarter from -$411.0 million in Q4 2025.
Xpeng (XPEV) Research & Development (2019 - 2026) Analysis & Trends
Xpeng (XPEV) has reported Research & Development for 8 consecutive years, with -$421.4 million the latest figure, recorded in Q1 2026.
- In Q1 2026, Research & Development fell 54.4% year-over-year to -$421.4 million; the TTM figure through Mar 2026 stood at -$1.5 billion (down 50.14% YoY), while the FY2025 annual figure was -$1.4 billion, down 53.41% from the prior year.
- Research & Development retreated to -$421.4 million in Q1 2026 per XPEV's latest filing, from -$411.0 million in the prior quarter.
- Across five years, Research & Development topped out at -$178.3 million in Q4 2022 and bottomed at -$421.4 million in Q1 2026.
- Historically, Research & Development has averaged -$245.1 million across 5 years, with a median of -$201.8 million in 2024.
- On a YoY basis, Research & Development climbed as much as 21.7% in 2022 and fell as far as 135.88% in 2022.
- Xpeng's Research & Development stood at -$178.3 million in 2022, then declined by 3.28% to -$184.2 million in 2023, then slumped by 51.65% to -$279.3 million in 2024, then sank by 47.14% to -$411.0 million in 2025, then slipped by 2.53% to -$421.4 million in 2026.
- Business Quant data shows XPEV's Research & Development at -$421.4 million in Q1 2026, -$411.0 million in Q4 2025, and -$341.2 million in Q3 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | R&D (Qtr) |
|---|---|---|---|---|---|
| 1 | Tesla | 1,042.09 Bn | 998.56 Bn | 4.75 Bn | 2.37 Bn |
| 2 | Toyota Motor | 242.42 Bn | 108.20 Bn | 12.27 Bn | - |
| 3 | Honda Motor | 122.32 Bn | 88.11 Bn | -34.06 Bn | 15.60 Bn |
| 4 | Ford Motor | 81.57 Bn | 50.24 Bn | 6.08 Bn | - |
| 5 | General Motors | 80.05 Bn | 55.33 Bn | 7.33 Bn | - |
| 6 | Li Auto | 26.01 Bn | 12.56 Bn | 262.11 Mn | -394.63 Mn |
| 7 | Xpeng | 22.52 Bn | 19.98 Bn | 388.90 Mn | -421.43 Mn |
| 8 | Rivian Automotive | 20.71 Bn | 15.40 Bn | 179.00 Mn | 466.00 Mn |
| 9 | Stellantis | 16.33 Bn | -25.12 Bn | 5.55 Bn | 1.52 Bn |
| 10 | Nio | 11.59 Bn | 7.00 Bn | 704.43 Mn | -273.27 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | -421.43 Mn |
| Dec 31, 2025 | -411.01 Mn |
| Sep 30, 2025 | -341.18 Mn |
| Jun 30, 2025 | -307.97 Mn |
| Mar 31, 2025 | -272.95 Mn |
| Dec 31, 2024 | -279.33 Mn |
| Sep 30, 2024 | -232.71 Mn |
| Jun 30, 2024 | -201.83 Mn |
| Mar 31, 2024 | -187.04 Mn |
| Dec 31, 2023 | -184.19 Mn |
| Sep 30, 2023 | -178.98 Mn |
| Jun 30, 2023 | -188.53 Mn |
| Mar 31, 2023 | -188.69 Mn |
| Dec 31, 2022 | -178.34 Mn |
| Sep 30, 2022 | -210.66 Mn |
| Jun 30, 2022 | -188.85 Mn |
| Mar 31, 2022 | -192.65 Mn |
| Dec 31, 2021 | -227.76 Mn |
| Sep 30, 2021 | -196.21 Mn |
| Jun 30, 2021 | -133.74 Mn |