XPeng Inc. (NYSE: XPEV) is one of the The 8 best automotive stocks to buy according to analysts. On April 24, Bloomberg reported that XPeng is in talks with foreign automakers about possible cooperation amid plans to commercialize its driver-assistance technology globally as well as expand production to areas outside China.
In early April, XPeng reported that it delivered a total of 62,682 vehicles in the first quarter. In March alone, it delivered 27,415 vehicles, which represents an increase of 80% compared to the previous month.
In March, XPeng presented a three-year strategy for Latin America and officially entered the Mexican market. Under this strategy, the company plans to launch pure electric and extended range models in 2027, as it lays the foundation for broader market coverage and aims for a leadership position in the region by 2028.
Meanwhile, Reuters reported on April 23 that the company hopes to begin large-scale production of its flying cars next year, as well as its humanoid robots in the fourth quarter of this year, according to XPeng President Brian Gu. It also cited tremendous potential to increase its cooperation with German automaker Volkswagen, which began mass production of its first electric vehicle model last month.
Of 30 analysts surveyed by CNN, 73 percent assigned a Buy rating to XPeng. The stock posted an average price target of $23.67, up 42.05 percent from its current price of $16.66.
XPeng Inc. (NYSE: XPEV) is a leading Chinese electric vehicle and smart NEV company that designs, develops, manufactures and markets smart electric vehicles and NEVs that appeal to the broad and growing base of tech-savvy middle-class consumers. Their mission is to become a smart technology company that is trusted and loved by users around the world.
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