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From InvestorPlace: 2024-05-31 06:36:41

In China, electric vehicles and plug-in hybrids accounted for over 50% of all cars sold in the first half of April. Chinese automakers are rapidly entering the European market, leveraging their low-cost structures and EV expertise. Despite a looming EU tariff threat, China is expected to negotiate a deal to protect its automakers.

XPeng reported a 62% YOY revenue increase in Q1 with a gross margin of 12.9%. The success of its X9 SUV and AI-powered ADAS system are contributing to its growth. A partnership with Volkswagen is also proving fruitful for XPeng, yet its stock is trading at a low forward price-sales ratio.

BYD unveiled a plug-in hybrid powertrain with a 1,305-mile range at a cost of $13,772. The company’s net profit soared by 81% last year, and its 2024 passenger vehicle unit sales increased by 23.6%. BYD plans to launch the new vehicles immediately to meet high demand in China, Europe, and beyond.

Nio faces challenges with operational expenses and predictions of only a 6% increase in deliveries this year. Bank of America lowered its price target on Nio stock, citing concerns over high expenses. Nio also reported a significant loss of $788 million in Q4 of 2023, indicating ongoing financial struggles.



Read more at InvestorPlace: 2 Chinese EV Stocks to Ride and One to Ditch