Streetbeat News

XPEV

XPeng Inc.

Industry

Auto - Manufacturers

XPeng Inc. designs, develops, manufactures, and markets smart electric vehicles in the People's Republic of China. It offers SUVs under the G3 and G3i names; four-door sports sedans under the P7 name; and family sedans under the P5 name. The company also provides sales contracts, maintenance, super charging, vehicle leasing, insurance agency, ride-hailing, technical support, automotive loan referral and auto financing, music subscription, and other services. XPeng Inc. was founded in 2015 and is headquartered in Guangzhou, the People's Republic of China.

Open

12.70

Mkt cap

13B

Volume

12M

High

12.81

P/E Ratio

-10.53

52-wk high

18.74

Low

12.34

Div yield

N/A

52-wk low

6.55

Xpeng Inc. (NYSE:XPEV) has announced a limited-time discount of RMB 10,000 ($1,400) on its G6 SUV starting Dec. 18, following a previous price cut on the P7i sedan. The G6's price reduction and a 24-term zero-interest loan option aim to boost sales amid a plateau in growth and increasing competition in China's EV market. Despite a downturn in the Hong Kong stock market and divestment concerns, Xpeng reported a 25% year-on-year sales growth in Q3 FY23 and a record delivery of over 20,000 vehicles in November.

Portfolio Pulse from Benzinga Neuro

December 18, 2023 | 7:41 am

Hong Kong stocks fell, with Xpeng Inc. (NYSE:XPEV) experiencing significant losses after Alibaba Group (NYSE:BABA) announced its intention to sell 25 million American depositary shares in Xpeng. The Hang Seng Index dropped 1%, influenced by concerns over China's economic recovery and mixed activity data for November. Alibaba's divestment is part of its strategy to reshape its investment approach and manage capital more effectively, reducing its stake in Xpeng from 10.2% to 7.5%. The broader market was also affected by the resignation of HKEX CEO Nicolas Aguzin and disappointing Chinese retail sales and property investment data.

Portfolio Pulse from Benzinga Neuro

December 18, 2023 | 4:55 am

Alibaba Group Holding Limited (NYSE:BABA) has reduced its stake in XPeng Inc. (NYSE:XPEV) from 10.2% to 7.5%, selling about 25 million American depositary receipts for approximately $391 million. This decision is part of Alibaba's strategy to reshape its investment strategy and manage capital. Despite the reduction, XPeng assures that Alibaba remains its second-largest shareholder and their strategic relationship continues, with ongoing collaborations in autonomous driving and in-car payment systems. Meanwhile, Volkswagen AG (OTC:VWAGY) has invested $700 million in XPeng for a 4.99% stake, aiming to co-develop EVs in China. Following the news, XPEV shares dropped by 7.54%, while BABA shares rose by 2.76%.

Portfolio Pulse from Nabaparna Bhattacharya

December 16, 2023 | 8:41 pm

Nio Inc. (NYSE:NIO) has acquired production facilities from JAC for 3.16 billion yuan, allowing it to independently manufacture electric vehicles (EVs). Nio's Q3 earnings report showed positive trends in revenue, vehicle deliveries, gross margin, and vehicle margin. The company's financial position appears strong, with significant cash reserves. Nio's shares rose after the earnings release, despite a year-to-date decline. Mizuho Securities maintains a Buy rating on NIO but lowered its price target from $18 to $15. Nio may also spin off its battery production unit, seeking external investors.

Portfolio Pulse from The Bamboo Works

December 13, 2023 | 3:13 pm

Alibaba Group Holding Limited has amended its 13D filing to report a 12.5% stake in XPeng Inc. as of December 6, 2023, according to a recent SEC filing.

Portfolio Pulse from Benzinga Newsdesk

December 12, 2023 | 9:23 pm

Tesla Inc (NASDAQ:TSLA) reported a 4.8% year-over-year increase in retail sales of new energy vehicles in China for November, securing a 7.8% market share. BYD (OTC:BYDDY) led with a 31.3% market share. Other competitors like Geely, SAIC-GM-Wuling, and Changan also made the top five, while Li Auto Inc (NASDAQ:LI) and Xpeng Inc – ADR (NYSE:XPEV) ranked sixth and tenth, respectively. Nio Inc – ADR (NYSE:NIO) fell out of the top 10. The Chinese NEV market hit a record with over 800,000 units sold in November, indicating the growing importance of this market for Tesla and its competitors.

Portfolio Pulse from Chris Katje

December 11, 2023 | 11:36 pm

Tesla faced a labor union strike in Sweden, lost a court case against Sweden's postal service, and was excluded from PensionDanmark's investment list due to labor issues. Tesla's China sales dropped year-over-year but increased month-over-month. Lucid Group was removed from the Nasdaq 100 Index and announced changes to its Lucid Air lineup. Nio is considering spinning off its battery unit. Rivian laid off members of its battery-cell development team. Fisker's Ocean SUV was spotted in India, and the company addressed investor concerns over its stock price. The KraneShares Electric Vehicles and Future Mobility Index ETF saw a slight increase on Friday but an overall weekly decline.

Portfolio Pulse from Shanthi Rexaline

December 09, 2023 | 1:58 pm

RH reported an unexpected Q3 loss with adjusted losses of 42 cents per share, missing analysts' expectations and last year's earnings of $5.67 per share. Sales also fell short of estimates, leading to a 9.4% drop in pre-market trading. Other stocks experiencing pre-market losses include Avid Bioservices, HashiCorp, Gates Industrial, XPeng, Lululemon Athletica, GDS Holdings, and GameStop, with various reasons such as weak quarterly results, secondary offerings, and weak sales outlooks.

Portfolio Pulse from Avi Kapoor

December 08, 2023 | 10:27 am

Over the past year, XPeng Inc (XPEV) has outperformed Tesla Inc (TSLA) with a 38.49% return on investment compared to Tesla's 32.75%. XPeng's stock growth is attributed to strong delivery numbers and the launch of a new MPV model aimed at wealthier Chinese households. XPeng expects to deliver between 59,000 and 63,500 vehicles in Q4. Meanwhile, other EV makers like NIO Inc (NIO) and Lucid Group Inc (LCID) have seen significant declines in their stock value over the same period.

Portfolio Pulse from Surbhi Jain

December 06, 2023 | 1:10 pm

XPENG and Volkswagen are advancing in their collaboration to develop two B-Class Battery Electric Vehicle (BEV) models, as reported in a recent filing.

Portfolio Pulse from Charles Gross

December 06, 2023 | 10:54 am

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