What's Going On With Chinese EV Maker XPeng Shares On Thursday?
Portfolio Pulse from Nabaparna Bhattacharya
XPeng Inc (NYSE:XPEV) shares are trading lower in the premarket session due to reports of potential U.S. chip sale restrictions on China. Despite this, XPeng's partnership with Volkswagen is progressing, with significant collaboration in EV technology. Volkswagen plans to invest $700 million in XPeng and co-develop two EV models. XPeng's G6 model also made its U.K. debut recently.
July 18, 2024 | 1:17 pm
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NEUTRAL IMPACT
SPDR S&P Kensho Smart Mobility ETF (HAIL) may see minor fluctuations due to its exposure to XPeng, which is affected by U.S.-China tensions and its partnership with Volkswagen.
HAIL ETF's exposure to XPeng means it could experience minor fluctuations. The negative sentiment from U.S.-China tensions is balanced by the positive news of XPeng's partnership with Volkswagen.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 50
NEUTRAL IMPACT
XPeng shares are trading lower due to potential U.S. chip sale restrictions on China. However, the company's partnership with Volkswagen, including a $700 million investment and co-development of EV models, provides a positive outlook.
The potential U.S. chip sale restrictions on China are causing short-term negative sentiment, but the strong partnership with Volkswagen and significant investment provide a positive long-term outlook.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100