Li Auto sold 32,500 vehicles from July 1 to July 30, Nio 18,100 and Xpeng 11,600 vehicles.
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Morgan Stanley raised its price target on Nio to $18.7, on Xpeng to $25.4, and on Li Auto to $53, all keeping their ratings at Overweight.
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XPeng will not be Tier 1 supplier of smart software, but will sell the E/E architecture, smart software and hardware solution packages to V
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More on Xpeng-Volkswagen, Audi e-Tron GT hits China market, DJI reveals 'Chengxing' intelligent drive system, Li Auto clarifies on 'Ideal' trademark issue.
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Volkswagen's deal with Xpeng could be the first of many strategic partnerships between global automakers and Chinese EV startups, Morgan Stanley said.
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It's another sign that China's auto industry is changing rapidly and becoming hyper competitive, forcing major changes at traditional OEMs, Edison Yu's team said.
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While Xpeng surged 26.69 percent in the US, Nio also rose 10.58 percent, Li Auto was up only a modest 3.56 percent -- why?
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Xpeng CEO said he looks forward to working with Volkswagen to bring the best technology and products to the world. Volkswagen China CEO said the two share a common vision for the future of mobility.
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After the completion of this investment, Volkswagen will hold 4.99% equity in Xpeng and join the board of directors.
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Volkswagen AG plans to invest $700 million in Xpeng and jointly develop electric vehicles in China as the German automaker fights to halt a sales slide in its most important market, Bloomberg reported today.
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