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Brian Gu, vice chairman and president of Xpeng joins CNBC Europe from the Paris Motor Show to discuss the EV transition in Europe and the EV market in China.
XPeng Inc. XPEV is shifting gears with a Golden Cross formation that suggests strong bullish momentum, just as the company unveils its highly anticipated P7+ all-electric sedan.
During the premarket trading session on October 14, Chinese automaker Xpeng Inc (NYSE: XPEV) share price cratered by 7.08%.
Initiating coverage on XPeng stock with a "Buy" rating and a 24-month horizon with the possibility of growth acceleration and narrowing of EBITDA level losses. XPeng's low-priced MONA MO3 EV targets a significant market, supporting sales growth despite potential margin compression, with encouraging initial response. Aggressive international expansion, particularly in Europe, and strategic partnerships, such as with Volkswagen, are key growth catalysts for XPeng.
On Wednesday, most electric vehicle stocks experienced declines. However, XPeng (XPEV, Financial) rose over 1.4%, and Rivian Automotive (RIVN) saw an increase of over 3%.
On Tuesday, electric vehicle stocks showed mixed performances. NIO (NIO) fell more than 7%, Xpeng (XPEV) dropped over 9%, and Li Auto (LI) declined nearly 10%.
Chinese luxury EV maker Xpeng delivered a record 21,352 vehicles in September, up 39.5% year-on-year and up 52% from August. Xpeng's total year-to-date sales stand at about 98,561 vehicles, up 21% versus last year.
JPMorgan Chase has significantly increased its investment in Chinese assets, acquiring a considerable amount of stock in several major companies. According to the Hong Kong Stock Exchange data, the firm expanded its stake in XPeng Inc. (XPEV, Financial) by approximately HKD 639 million, raising its holding from 4.57% to 5.35%.
JPMorgan Chase has significantly increased its investment in Chinese assets, acquiring a considerable amount of stock in several major companies. According to the Hong Kong Stock Exchange data, the firm expanded its stake in XPeng Inc. (XPEV, Financial) by approximately HKD 639 million, raising its holding from 4.57% to 5.35%.
Major Chinese stocks listed in the U.S. showed mixed results in recent trading, with the Nasdaq Golden Dragon China Index (HXC) closing down 2.37%. Notable gainers included Taiwan Semiconductor Manufacturing Company (TSM), which rose 2.09%, and Futu Holdings (FUTU, Financial), which saw an impressive increase of 8.81%.