Home » XPeng and other HK automotive concepts stocks surged on December 22

XPeng and other HK automotive concepts stocks surged on December 22

by SEP Editor

Many EV stocks are rebounding today, after an extended stretch of falling prices. XPeng Inc. (9868.HK) up 6%, followed by other automotives companies, BYD Company Limited (1211.HK), Geely Automobile Holdings Limited (0175.HK) and Guangzhou Automobile Group Co.,Ltd. (2238.HK).

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The reason for the rise in Hong Kong stocks driving the auto concept is likely to be related to the rise in share prices of new energy vehicles in the United States, including XPeng Inc. (XPEV) rose nearly 11%, NIO Inc. (NIO) rose 7%, Tesla (TSLA) rose 4%.

Chinese capital view

Chinese investment institutions generally believe that the trend of intelligent electrification of automobiles has arrived.

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CITIC Securities believes that the electrification of cars will transform drive system from the traditional “engine + transmission” to “battery + motor + electric control”, and that China’s electrification supply chain will be able to go overseas with its cost advantage. Chinese automakers such as BYD, NIO and XPeng have already started to export EVs overseas. It is expected that the overseas sales of Chinese automakers will continue to rise in the future, and the Chinese auto industry will transit from “supply chain” to “car expansion.

According to a research report by Zheshang Securities Co Ltd, the auto industry is entering an era of electric intelligence, reshaping the industry’s competitive landscape. Autonomous vehicles are in the global leading position in the field of electrification and intelligence, and will stand out in the competition in the future, and we will continue to be optimistic about the future development of the head autonomous vehicle enterprises.

Catherine Wood buys more  XP shares

Ark Investment Management LLC (“ARK”) founded by Catherine Wood, has increased its bet on XPeng by adding to its US-traded ADRs through its ARK Autonomous Tech. & Robotics ETF (ARKQ). As of December 7, ARKQ held 527,652 shares of XPeng ADRs worth about $24.42 million, or 1.06 percent of the position. 

(ARKQ’s holdings as of December 7.)

With the continuous development of electrification and networked development of automobiles, electric smart cars is the current hotcake. At the same time, intelligence has become an important selling point and added value to the current car. Affected by this, related intelligent electric car stocks ushered in a favourable, sharp rise.

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