Xpeng Motors cooperates with Volkswagen, and technology output brings high gross profit margin

The cooperation between Xpeng Motors and Volkswagen will bring more technology output income to the company. The first quarter financial report shows that the company's service and other income reached 1 billion yuan, a year-on-year increase of 93.1% and a month-on-month increase of 22.1%. The migration cost of technology output is low, which brings a higher gross profit margin, making the gross profit margin of Xpeng's income category as high as 53.9%. It is expected that in the second half of the year, with the deepening of cooperation with Volkswagen, Xpeng Motors' gross profit margin will continue to increase.