πππ$XPeng Inc.(XPEV)$
The G6 has been one of XPeng's main selling models in the second half of last year. However as competition has intensified and sales have dropped, XPeng has begun to offer limited time discounts since December last year.
In other news, XPeng has signed a deal with Malaysia 's Sime Darby Group on April 9 to sell its cars in Hong Kong and Macau. This announcement sent XPeng shares up 9% that day but it has since fallen back on Friday by 9.7%. This is XPeng' s first move within China but beyond the mainland.
XPeng has also signed partnership deals with car dealers in Malaysia and Thailand. It entered the German market with the G9 SUV and the P7 sedan. This is part of XPeng's broader plan to expand into global markets including France, Italy and the UK.
Even though XPeng is down 9.7% on Friday, it is still up by 2.9% for the week. However XPeng has dropped 46% year todate and in 2023 it is down by 25%.
$XIAOMI-W(01810)$ had a great week with its shares up 2.6% on Friday and has risen by 7.4% in the last 5 days.
Xiaomi's SU7 has received over 100,000 as deliveries begin. The launch is a great success. Morgan Stanley is Bullish on Xiaomi and raised its target price on Xiaomi to HKD 20 from HKD 17.50 previously, an upside potential of 25%. Morgan Stanley said that the Disruptive force of Xiaomi EV is unfolding with the first model SU7, seeing extraordinary strong sales in its early days on the market.
Morgan Stanley said that Xiaomi SU7 is reasonably priced and the popularity implies that end users are satisfied with Xiaomi 's vehicle design and Smartphone + EV +AIoT concept.
$BYD COMPANY(01211)$
In March CATL's share in China EV battery installations decreased by 10% from February while BYD increased by 9%. BYD has just launched the next generation energy storage system MC Cube-T whose capacity of 6.432 MWh is higher than the 6.25 MWh Tianheng energy storage system launched by CATL.
In other news BYD sub brand Fang Cheng Bao will hold its spring launch event on April 16 and the Bao 8 and Bao 3 could be the highlights.
Fang Cheng Bao 8 or Super 8 is a departure from the traditional square box design while Bao 3 is a trendy new series that will allow customers to explore the world of fun in a freer way.
BYD has created a dedicated DMO platform for the Fang Cheng Bao brand where O stands for off road and DM stands for dual mode.
NEVs based on the DMO platform will predominantly be electrically powered allowing crossovers to achieve low fuel consumption.
DMO is BYD's epoch making hybrid technology platform that is BYD's strategy for customers to convert from traditional fuel vehicles to new energy vehicles.
BYD sold 302,459 EVs in March, the 2nd highest ever behind last December's 341,043. That is up 147% from 122,311 in February and up 46% from 207,080 in the previous year month.
BYD Group currently owns brands including BYD, Denza, Yangwang and Fang Cheng Bao with BYD branded passenger cars including the Dynasty and Ocean series.
In December last year BYD overtook $Tesla Motors(TSLA)$
Nonetheless I believe that BYD, Xiaomi and XPeng have lots of exponential growth ahead as they are continually expanding their market base and introducing new models to stay ahead of competition.
At the current price, these 3 EV stocks offer great value for money and lots of upside potential in the years to come.
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