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

23.96

Mkt cap

11B

Volume

19M

High

24.26

P/E Ratio

-19.61

52-wk high

27.16

Low

23.42

Div yield

N/A

52-wk low

6.55

Shares of Xpeng are trading higher due to strong electric vehicle sales in China for the month of August.

Portfolio Pulse from Luke J Jacobi

September 11, 2023 | 12:08 pm

Several stocks recorded gains in Monday's pre-market trading session, including Crinetics Pharmaceuticals, Canopy Growth Corporation, BeiGene, HUTCHMED, Sumitomo Mitsui Financial Group, Tesla, XPeng, Mitsubishi UFJ Financial Group, LiveWire Group, and Bilibili. Notable movements include Crinetics Pharmaceuticals' 35.8% jump following positive results from its Phase 3 PATHFNDR-1 study, and Tesla's 5.4% rise after Morgan Stanley upgraded the stock from Equal-Weight to Overweight and raised the price target from $250 to $400.

Portfolio Pulse from Lisa Levin

September 11, 2023 | 9:35 am

China's vehicle sales in August increased by 8.4% YoY, compared to a decrease of 1.4% in the previous month. New energy vehicle sales in China also rose by 27% YoY in August, according to the China Association of Automobile Manufacturers.

Portfolio Pulse from Charles Gross

September 11, 2023 | 9:22 am

The week ending on Sept. 8 saw a general downtrend in electric vehicle (EV) stocks, with some exceptions like Tesla. Key events included Tesla's Giga Shanghai plant producing its 2 millionth vehicle, and the company's focus on robotaxis. Deutsche Bank flagged risks to Tesla's Q3 production and deliveries. Lucid Group's CEO was reported as the highest paid automotive CEO in 2022, while the company struggles with production and deliveries. Fisker plans to increase production of its Ocean electric SUV. Nikola faced more fire incidents with its Trey electric semi-trucks. Honda adopted Tesla's North American Charging Standard for its future EV models.

Portfolio Pulse from Shanthi Rexaline

September 09, 2023 | 2:40 pm

China Passenger Car Association reported that car sales in China totaled 1.94 million units in August, marking a 2.2% YoY increase. Tesla exported China-made vehicles in August.

Portfolio Pulse from Charles Gross

September 08, 2023 | 8:43 am

Chinese stocks are trading lower due to economic concerns following recent economic data from China. The planned iPhone ban for government employees in China may escalate US-China tensions, while fears of a rate hike add further pressure.

Portfolio Pulse from Bill Haddad

September 07, 2023 | 3:25 pm

Volkswagen's CEO, Oliver Blume, has dismissed concerns over the rising threat from Chinese electric vehicle (EV) makers, stating that European manufacturers hold an advantage due to their vehicle know-how, quality levels, and brand legacy. Despite the increase in EVs shipped to Germany from China, Blume remains confident in VW's competitive edge. He also highlighted VW's focus on reducing battery costs by 50% with its new unified cell, enabling cheaper EVs.

Portfolio Pulse from Benzinga Neuro

September 07, 2023 | 9:50 am

The IAA motor show in Munich highlighted the strength of China's EV market, with Tesla unveiling an improved Model 3 and Chinese brands BYD and XPeng showcasing their models. European automakers also revealed their EV plans, with BMW unveiling a concept car for its new EV series, Mercedes-Benz revealing a coupe-style EV, and Volkswagen aiming to halve battery cell costs through its partnerships in China.

Portfolio Pulse from Upwallstreet

September 06, 2023 | 5:11 pm

Chinese shares are trading lower in the premarket due to weak August PMI data. This could potentially affect several US-listed Chinese companies and ETFs.

Portfolio Pulse from Charles Gross

September 05, 2023 | 9:14 am

Tesla's China sales rose year-over-year and month-over-month in August, thanks to price cuts. Tesla sold 84,159 made-in-China electric vehicles in August, a 9.4% increase from the previous year and a 30.92% increase from July. This comes amid strong sales reported by domestic EV manufacturers, including Nio, XPeng, Li Auto, and BYD Company. However, Tesla's stock has been stuck since its Q2 results were reported on May 19, due to fears of a further hit to margins from the multiple price cuts.

Portfolio Pulse from Shanthi Rexaline

September 04, 2023 | 6:02 pm

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