Chinese electric-vehicle maker Xpeng saw its shares in Hong Kong surge over 10% Thursday. Analysts widely expect the company will likely turn profitable in the fourth quarter this year.
U.S.-listed shares of XPeng (XPEV) jumped on Wednesday after the Chinese electric vehicle maker delivered more vehicles and posted a smaller loss than expected for the first quarter.
The Chinese EV maker posted a sharply narrowed net loss and a significant rise in revenue for the first quarter, and expects another strong quarter to follow as it edges closer to profit.
XPeng Inc. Sponsored ADR (XPEV) closed at $20.77 in the latest trading session, marking a -1.66% move from the prior day.
Since I last covered NIO and XPEV, but companies' gross profit margins have substantially recovered, now far surpassing their U.S. competitors such as Ford. U.S.-China tariff negotiations pose less downside risk for NIO and XPEV compared to U.S. auto stocks in my model. NIO and XPEV's reliance on imported parts is far lower than U.S. automobile manufacturers.
Chinese electric vehicle maker Xpeng Inc (NYSE:XPEV) is reported to be mulling a flotation of its flying car business in Hong Kong or New York. The Guangzhou group has invited banks to pitch for a role to help the Xpeng AeroHT initial public offer, Bloomberg reported, citing people familiar with the matter.
The latest trading day saw XPeng Inc. Sponsored ADR (XPEV) settling at $19.74, representing a -1% change from its previous close.
Chinese electric vehicle maker Xpeng delivered 35,045 vehicles in April, sustaining its record of delivering more than 30,000 vehicles for the sixth consecutive month. Leapmotor surpassed the 40,000-unit mark and delivered 41,039 vehicles.
Chinese electric-vehicle makers XPeng, NIO, and Li Auto delivered 92,884 vehicles in April, up 83% year over year.
In the closing of the recent trading day, XPeng Inc. Sponsored ADR (XPEV) stood at $18.60, denoting a -0.37% change from the preceding trading day.
XPEV and LI operate in an intensely competitive environment marked by price wars, technological races, and ambitions for global expansion.
XPeng Inc. Sponsored ADR (XPEV) concluded the recent trading session at $20.80, signifying a +1.61% move from its prior day's close.