Not sure what are you trying to get at comparing the price of BYD $63 versus Xpeng of $8.80. The difference is at least usd 50.00 and you said is similar price ? Yes BYD is the current EV leader in China based on sales and revenues, however don't forget XPeng is already into the flying car where not that many competitors there yet, the sales of Xpeng is not fantastic but their investment and evolution in their EV technologies are way much advance compared to Nio, BYD, Li auto or even xiaomi. Normally newly start-up will have high operation cost but this can be easily streamline or fine tuned once the production process is stabilise or mature. Would VW be so stupid to collaborate with Xpeng if they have no potential ?
I think is largely due to the reshuffling of Ji's cabinet members. Many investors worried that more changes or instability ahead. Hang seng has the worst single day rout today. I think will laosai more, wait till stable then buy the dip.