To The Moon

🌟🌟🌟Happiness is seeing Chinese EV stocks up today on signs that the Chinese economy maybe recovering.  Consumer prices in China rose at an annual rate of 0.7% in February versus Analysts expectations for a 0.3% rise.  This was attributed to the Chinese New Year Celebrations.

 $NIO Inc.(NIO)$  is up 1.4% today and in the past 5 days, Nio has jumped 15%.  However Nio is still down 26% year todate.

Nio has started deliveries of its 2024 model vehicles after its customer orders in February.  Deliveries were for 2024 ES8, ES7, ES6, EC6 and ET5 Touring to several cities in China on March 8.

Nio has been building a dealer network in Europe for its forthcoming Firefly and Alps brands.  Abu Dhabi Investment Arm, CYVN Holdings has invested USD 2.2 billion in Nio for its export push, taking a 20% stake in the EV company.  It has also licensed Nio technology for a luxury EV brand it controls called Forseven.

Nio has also begun testing use of Humanoid robots on factory production line in February.  Things are certainly looking up for Nio. 

$XPeng Inc.(XPEV)$  has also done well today.  It is up 2.6% and in the past 5 days, it is up 6%.   XPeng Aeroht's X2 flying car  has just conducted its first mission over the central city of Guangzhou on March 8.  This is aimed at accumulating experience for future low altitude application scenarios including urban air transportation and low altitude tourism.  XPeng said that the route of the flying car test can be used for both urban air transportation  and as a sightseeing route.

XPeng has also signed a partnership with UAE 's Ali&Sons to target the Italian market as it ramps up its overseas expansion.

In July 2023, Volkswagen has invested USD 700 million in XPeng to develop 2 new models for VW branded EVs for the Chinese market.  Volkswagen' s single largest market is China.   XPeng will share smart EV technologies and engineering capability with Volkswagen. 

XPeng CEO He Xiaopeng said that XPeng has 30 new and facelifted models planned for the next 3 years. 

$Li Auto(LI)$  is up today by 8.9% and  is up 1.7% in the past 5 days.  Li Auto has been in an uptrend ever since it released its excellent Q423 Earnings report on February 26.

 Li Auto doubles its net income in Q4 from Q3 and its gross margin improves to 23.5%.  Li Auto also posted a record revenue of RMB 41.73 billion yuan in 4Q23.  That's up 136% year on year and up 20% from 3Q23.  Gross profit was RMB 9.79 billion in Q423, representing an increase of 174% from RMB 3.57 billion in Q422 and an increase of 28% from RMB 7.64 billion in Q323.

Li Auto has been profitable in 4 consecutive quarters now.  In 2024 Li Auto plans an overseas expansion  starting with Middle Eastern countries including UAE, Saudi Arabia according to Li Xiang, CEO of Li Auto.

$BYD COMPANY(01211)$  was up 6% yesterday and in the past 5 days, it has jumped 9%.  In 2023 BYD is up 4.8%.  BYD has overtaken Tesla as the Top global seller of EVs in December 2023.  BYD is not only the largest EV maker in China but also one of the largest battery makers in the world.  In February this year, BYD topped China's EV market with an impressive 30.8% share while Tesla came 4th with 6.6% market share.  This is according to a ranking released on March 11 by China Passenger Car Association.

$XIAOMI-W(01810)$  is set to officially launch its 1st EV model SU7 on March 28 with deliveries set to begin soon after.  Xiaomi is well known for its consumer electronics and related software as well as home appliances.  Xiaomi 's share price is up 11% yesterday and in the last 5 days, it has jumped 16%.  However it is still down 3.6% year todate.  In 2023, Xiaomi was up 29%.  It' s exciting times ahead for Xiaomi.  Xiaomi said that it is fully prepared for competition in the Chinese EV sector. 

This is the dawn of Chinese EV companies gaining prominence not only in China, but in the world.   While the competition among the EV companies will be intense, the best companies like Li Auto and BYD will survive and thrive.   

The Global EV market size was valued at USD 384.65 billion in 2022 and is projected to grow from USD 500.48 billion in 2023 to USD 1.579 Trillion in 2030, with a CAGR of 17.8% from 2023 to 2030.   China now accounts for nearly 60% of EV sales worldwide, ahead of Germany and Japan.  I am very impressed with the innovation and technological advances that Chinese EV companies are making towards a cleaner and greener Earth.

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