Morgan Stanley analyst Tim Hsiao lowered the price targets on three Chinese EV manufacturers: NIO, XPENG, and LI Auto. XiaoPeng, the Guangzhou-based company, saw its price target lowered by Morgan Stanley to $42 from $71 — a decrease of 40%. XPeng Inc. announced that it will report its fourth quarter and fiscal year 2021 unaudited financial results on March 28th before the open of U.S. markets.
Analysing the sector, Tim Hsiao mentioned 5 reasons that justify his bullish sentiment on the 3 EV makers:
- We believe electric vehicles remain a secular trend regardless of the economic cycle;
- EV trio remain the best downstream EV proxy to play China’s EV ambitions;
- Early dual-listing on HKEx as downside protection;
- Valuations are now much more compelling and expectations are lower;
- Capability to better tackle supply disruption.
XiaoPeng Motors (XPENG) reached on March 23rd, the production milestone of 100,000 units of its P7 Model. The EV maker reaches the milestone 695 days after starting the production of the sports sedan, on April 27, 2020, representing a new record for pure EV makers from emerging auto brands in China. The accomplishment reflects customers’ recognition of the P7’s quality and smart functionality, as well as the efficiency of XPENG’s production, supply chain management, and sales and service network. — the company added.
The EV maker Xpeng Motors announced recently that it has joined three major European automobile associations: the European Association for Electromobility (AVERE), Royal RAI Vereniging / RAI Association (RAI) and BIL Sweden, underlining the company’s long-term commitment to developing the smart and greener mobility ecosystem in Europe.
Earlier this month, Xpeng announced the opening of its first European Experience Stores in Sweden and the Netherlands, and its partnership with Bilia and Emil Frey Nederland NV to build a first-class distribution, sales and service network in Sweden and the Netherlands, respectively.
According to the photos posted on Weibo by the Car Blogger @汽车拍客阿睿, Xpeng P7 Performance has been under tests bringing LiDAR technology in the headlights and an improved steering wheel, the same used on the G9 model. The G9 SUV model was unveiled last November at Auto Guangzhou 2021 Show, and the company expects to start its deliveries by the end of August 2022.
The company announced that delivered 6,225 Smart EVs in February 2022, representing a 180% increase year-over-year. According to the company, the February deliveries consisted of 3,537 P7 smart sports sedans, representing a 151% year-over-year increase. 2,059 P5 smart family sedans were delivered in February, bringing cumulative deliveries of the P5 to 13,953 since its launch in September 2021. Also 629 G3 & G3i smart compact SUVs were delivered in February.
Written by Cláudio Afonso | firstname.lastname@example.org