XPEV - XPeng's Flying Car Won't Make The Stock Soar Any Time Soon
2024-01-24 15:25:01 ET
Summary
- BYD Company's 2023 dominance in China signals the notion that a resilient set of manufacturers are emerging in China's crowded EV marketplace.
- XPeng Inc., by no means a top EV seller in China, is projected to enter positive EPS territory in 2026 and has registered relatively modest sales volume upticks.
- XPeng's well-received "flying car" project is nearing reality, but numerous regulatory hurdles remain and competition is rising all over the world.
- At best, XPeng promises long-term growth in a buyer's market of both equities and EVs.
In 2023, "pure play" electric vehicle ((EV)) company BYD Company Limited ( BYDDF ) stated that it had achieved a milestone: it sold a little over 3.02 million cars. China's automobile association estimated that 89.5% of BYD's sales were in the People's Republic of China - easily making it the biggest EV maker in China's crowded marketplace....
XPeng's Flying Car Won't Make The Stock Soar Any Time Soon