Categories
Energy

Xpeng, a Chinese electric vehicle producer, expects ‘significant momentum’ in March

Xpeng (XPEV), a China-based EV-maker, sees little in its market to guarantee the stock’s current 35% sales. Brian Gu, who serves as the Xpeng President and Vice Chairman, told Yahoo Finance that they see great traction in March, adding in deliveries continues the momentum. They also added to say that the momentum continues in deliveries Xpeng said on Monday that revenue increased by 345.5 percent year-over-year to RMB 2,851.4 million.

The total number of deliveries rose by 302.9 percent to 12,964 units. As vehicle margins increased, Xpeng posted an RMB 787.4 million loss, down from RMB 1,097.1 million the previous year. In pre-market trading, shares dropped 3%. Xpeng is one of several companies in China’s burgeoning EV sector to have its stock price fall this year amid a wider sell-off in tech stocks. Nio, as well as Li Auto, has lost 21% and 22% of their value this year, respectively. Tesla’s stock has dropped by 16%.

When asked if sell-offs shocked him, Gu stated, “Well, I think it’s very important.” “I believe it’s related to the overall market, which is impacting high-growth as well as high-value stocks across the board.”

According to the company’s prediction, the market will remain high in the near future. Xpeng expects 12,500 vehicles to be shipped in the first quarter, up 450 percent year over year. Revenues are forecast to grow 533 percent from the previous year. The company didn’t offer earnings figures for the year, but it’s expected to lose money again as it ramps up production, invests in R&D, and prepares to open a new production facility in 2022.

The EV manufacturer, which according to JPMorgan analysts, could capture 8% of China’s electric vehicle market by 2025, has two versions in the Chinese market. They’ve made a name for themselves in an increasingly competitive market thanks to their cutting-edge infotainment systems and self-driving technology.

Xpeng’s third iteration, aimed at smaller sedans like the Toyota Camry, is set to debut in the second quarter. Hands-free lane switching as well as navigated speed control is among the features of Xpeng’s XPilot 3.0 autonomous driving technology, which was recently announced. Xpeng or Xiaopeng Motors, often known as XMotors.ai in China, is a maker of electric vehicles. The business is based in Guangzhou, China, and has offices in Mountain View, California, in the United States. It is listed on the New York Stock Exchange.

https://hindaily.com/