After 1.2M Units, XPeng's Real Hurdle Is Not Sales but the Tipping Point of Global Scale Effects

Just saw XPeng announce that global cumulative sales have surpassed 1.2 million units, with the MONA L03 launching simultaneously in China and Europe. This number counts as a milestone among Chinese EV startups—but as an early investor, my judgment of a company's value never rests solely on cumulative figures; I look at the "growth slope" and the "inflection point of unit economics." 1.2 million units feels more like XPeng's ticket to transition from a "startup" to a "mature automaker"; the real game is just beginning.