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XPeng Inc ADR XPEV Stock Quote

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Morningstar‘s Stock Analysis XPEV

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Is it the right time to buy or sell?
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Is it the right time to buy or sell?
Find out with Morningstar Investor

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XPeng’s Cautious Q3 Outlook To Depress Share Price; Sentiment To Improve in 2023 With New Models

Vincent Sun Equity Analyst

Analyst Note

| Vincent Sun |

XPeng delivered in-line second-quarter revenue which is close to the high end of company’s guidance. While management’s cautious outlook for the third-quarter vehicle delivery is likely to weigh on share price performance in the near term, we expect strong growth momentum to return in 2023 with full-year contribution of the new G9 sport utility vehicle and two additional launches. We reduce our fair value estimate to USD 33 per ADS (HKD 130 per share) from USD 40 (HKD 157). Our fair value implies a forward 2023 price/sales ratio of 2.8 times.

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Company Profile XPEV

Business Description

Founded in 2015, XPeng is a leading Chinese smart electric vehicle, or EV, company that designs, develops, manufactures and markets EVs in China. Its products primarily target the growing base of technology-savvy middle-class consumers in the midrange to high-end segment in China’s passenger vehicle market. The company sold over 98,000 EVs in 2021, accounting for about 3% of China’s passenger new energy vehicle market. It is also a leader in autonomous driving technology.

Contact
No. 8 Songgang Road, Changxing Street, Cencun, Tianhe District
Guangzhou, 510640, China, People's Republic of
T +86 2066806680
Sector Consumer Cyclical
Industry Auto Manufacturers
Most Recent Earnings Jun 30, 2022
Fiscal Year End Dec 31, 2022
Employees 13,955

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