Victoria Li (maternity leave)

China specialist, Auto and Industrial specialist

Actionable bottom-up long/short Insights on equities

Equity Bottom-Up

XPeng Inc. designs, produces, and distributes electric vehicles. The Company designs, develops, manufactures and markets smart smart electric vehicles, as well as finance, parts, and maintenance services. XPeng serves customers in China.

<ul>
<li>Short term interruption from chips and LFP battery shortage would be eased in 2H2022.</li>
<li>Xpeng’s monthly delivery would ramp up to 30,000 cars with the launch of G9 in 3Q2022.</li>
<li>We estimate Xpeng’s net profit will turn positive at the end of 2022, which would trigger further re-rating of the stock to HK$300 (or US$77).</li>
</ul>

XPeng

Xpeng: Milestone Year Ahead