XPeng’s Robot Leap and EV Test Victory Fail to Offset Deepening Delivery Woes

XPeng X9 wins European EV range and charging tests, CEO leads humanoid robot IRON mass production, but stock near 12-month low with 28% YTD drop and 4% YoY delivery decline.

The stark disconnect between XPeng’s product achievements and its stock performance has seldom been starker. The electric?vehicle maker’s X9 people?carrier just topped the largest independent EV test in Europe, while a bold humanoid robot programme is accelerating under CEO He Xiaopeng’s direct command. Yet the company’s shares are stuck near a 12?month low, hammered by a 28% year?to?date decline and a 48% plunge from the 52?week peak of EUR 24.40.

EV test triumph puts X9 on the podium

At the NAF El Prix Summer 2026, organised by the Norwegian Automobile Club and Motor magazine, the seven?seater X9 recorded the largest positive deviation from the official WLTP range among all 24 contestants. Real?world driving delivered 646 km over more than eleven hours, a 11.4% premium over its homologated figure. The X9 also set the fastest charging benchmark in the field, going from 10% to 80% battery in just 12 minutes and 55 seconds. It had already led the charging charts in the winter edition of the same test, carried out at minus ten degrees Celsius.

CEO takes personal charge of robotics push

On the technology frontier, He Xiaopeng has assumed direct control of XPeng’s robotics division after the departure of its former head, Shi Xiaoxin. The CEO described the move as necessary to steer the unit through what he called a “historical turning point.” The flagship product is the humanoid robot “IRON,” slated for mass production in 2026. From the first quarter of 2027, the robots are scheduled to work as sales consultants in retail stores, with household integration targeted for 2028.

The platform draws heavily on XPeng’s vehicle know?how — the company claims a 70% technical overlap between electric cars and humanoid systems. IRON uses a 720?degree camera system derived from automotive applications and is powered by XPeng’s in?house “Turing” AI chip. The development of the Turing chip has gained urgency after a setback with Nvidia’s Thor processor. Originally planned for the P7+, the Thor chip will not enter series production until 2026, forcing XPeng to switch to a dual?Orin?X configuration in the meantime.

AI efficiency leaps but chip dependency remains

XPeng recently showcased its VLA?2.0 model at an industry conference, claiming a more than 4,000% improvement in AI training efficiency and a jump in GPU utilisation from 40% to 90%. The architecture is designed to control both autonomous driving and the complex motion sequences of the humanoid robots. These advances, however, come as the stock’s relative strength index hovers around 36, signalling that the shares are brushing against oversold territory without yet entering it.

Delivery numbers weigh heavier than robot dreams

The delivery data continue to provide the sobering counterpoint. In May XPeng handed over 32,158 vehicles, a 4% increase month?on?month but a 4.1% decline from the same month last year. The first five months of 2026 cumulatively reached about 126,000 units, down 22.6% year?on?year. Management has guided for a sequential revenue rise in the second quarter, but the market remains unconvinced. Analysts are divided: some see four new models in 2026 — the P7+, G7, G6 and G9 — plus the robotics offensive as enough to justify higher price targets, while others maintain sell recommendations, pointing to the heavy capital demands of the robot projects.

Flying cars and localised assembly widen the horizon

XPeng is trying to diversify its growth pipeline with its flying?car affiliate AeroHT. The so?called “Land Aircraft Carrier” has already accumulated over 7,000 orders, with full deliveries planned for 2027. Meanwhile, the company is expanding international production without committing its own capital. Since June 10, the G6 SUV has been assembled in Malaysia through a partnership with EP Manufacturing Bhd, marking XPeng’s third local assembly site worldwide and its second in Asia?Pacific. The Malaysian plant is expected to add the X9 — including a long?range variant — to its roster in future. Norway is pencilled in as the X9’s first European market later this year.

Whether CEO He Xiaopeng can translate his personal involvement in the robotics unit into the market confidence that vehicle tests alone have failed to deliver will become clearer when the IRON robot enters mass production at the end of 2026. Until then, XPeng’s dual track of pioneering hardware and faltering sales looks set to keep the stock pinned near its lows.