• XPeng average debt/equity ratio for 2023 was 0.2, a 81.82% increase from 2022.
• XPeng average debt/equity ratio for 2022 was 0.11, a 83.33% increase from 2021.
• XPeng average debt/equity ratio for 2021 was 0.06, a 25% increase from 2020.

Debt/equity ratio can be defined as a measure of a company's financial leverage calculated by dividing its long-term debt by stockholders' equity.