Xpeng reports a 54% increase in deliveries, driven by strong demand and growth outpacing rivals

From Nasdaq: 2024-12-05 23:19:08

Chinese luxury EV maker Xpeng reported a 54% year-over-year increase in deliveries for November, totaling 30,895 units. The company also delivered 153,373 EVs in the first 11 months of the year, up 26% year-over-year. Xpeng’s growth outpaced rivals Nio and Li Auto, driven by strong demand for the Mona M03 model.

Xpeng stock has seen volatile performance, with returns of 18% in 2021, -80% in 2022, and 47% in 2023. The Trefis High Quality Portfolio, however, has consistently outperformed the S&P 500. Xpeng’s current valuation is roughly 2x estimated 2024 revenues, ahead of Nio and Li Auto but below Tesla’s 11x valuation.

Xpeng stock could see a re-rating due to its leadership in automation and assisted driving technology in the Chinese EV market. The company offers affordable ADAS without relying on HD maps or LiDAR sensors. Xpeng is also expanding internationally, aiming to enter over 60 countries by 2025. Recent market entries in the UAE and the UK could significantly boost revenues and profits for Xpeng.



Read more at Nasdaq: What’s Driving Xpeng’s Surging Deliveries?