Shanghai (ZXZC)- Chinese electric vehicle startup XPeng aims to see its operating profit turn positive by 2025, the company’s chairman He Xiaopeng revealed at an annual review meeting this week, which was cited by a Chinese local media outlet.

The goal implies that the integrated profit margin of XPeng should reach at least 17% in 2025 and the sales scale needs to increase by several times compared to the current level. By that time, XPeng's annual investment in R&D businesses will grow to hit a ten-billion-yuan level with a remarkable increase in the number of R&D staff members, Mr. He added.

Photo credit: XPeng

The company has set a full-year sales target of 1.2 million vehicles for the year of 2027. In 2022, XPeng saw its annual vehicle deliveries jump 23% year on year to 120,757 units, indicating that the electric vehicle manufacturer needs to raise its sales by nearly 9 times over the next five years.

Moreover, XPeng plans to launch two models in overseas markets in 2023, followed by the third one in 2024.

The company is still in discussion about the vehicle models to be released outside of China in 2025, He Xiaopeng added.