American depositary receipts (ADRs) of XPeng (XPEV) dropped Tuesday after the Chinese ele🃏ctric vehicle (EV) maker reported wea𝓰ker-than-expected revenue, although it had a smaller-than-anticipated loss as it benefited from a deal with Volkswagen.

XPeng posted a second-quarter loss of 1.36 yuan ($0.19) per 澳洲幸运5开奖号码历史查询:American depositary share (ADS), while the average of analysts surveyed by Visible Alpha looked for a loss of 1.52 yuan per ADS. Revenue jumped 60.2% year-over-year to 8.11 billion yuan, although that missed forecasts of 8.52 billion yuan.

Vehᩚᩚᩚᩚᩚᩚ⁤⁤⁤⁤ᩚ⁤⁤⁤⁤ᩚ⁤⁤⁤⁤ᩚ𒀱ᩚᩚᩚicle sales increased 54.1% to 6.82 billion yuan, while total vehicle deliveries were up 30ꦯ.2% to 30,207.

Cost Reductions Attributed To Volkswagen⛄ Partnership

Co-President Dr. Hongdi Brian Gu pointed to the company's cost reductions, which came "through technical improvement and revenues from technical collaboration in our strategic partnership with Volkswagen." Gu said that boosted 澳洲幸运5开奖号码历史查询:gross profit margin to 14.0%, after a decline of 3.9% a year earlie🧜r.

XPeng struck the 澳洲幸运5开奖号码历史查询:agreement with the German car manufacturer last month to co-develop electrical/electron🍎ic (E/E) architecture for Volkswagen vehicles made in China. 

XPeng ADRs, which fell 7.2% to $6.68 as of 10:45 a.m. ET Tuesday, have lost more than half their value this year.