With a clear global strategy, the company is the first Chinese NEV maker to deliver a car (100 G3i) to Norway.
China's EV maker Xpeng (XPEV:NYSE) saw a staggering 33.92% rise on November 23. The six-year-old startup, which went public in August, has almost quintupled its market cap since then.
Meanwhile, the EV makers were on fire, with Tesla (TSLA:NASDAQ), Li Auto (LI:NASDAQ) and NIO (NIO:NYSE) increasing by 6.58%, 14.48% and 12.45%, respectively.
Investors favor Xpeng's gene of TSLA
There are many similarities between TSLA and XPEV, including management backgrounds, car design and self-developed driving solutions. Like TSLA's diversified team members from traditional cars companies and silicon tech firms, Xpeng's founder and CEO, Mr, He Xiaopeng choose a crew consists of professionals from ZTE, TSLA, GAC and Volkswagen. XPEV's hit product, P7, also adopted a streamlined design, which many have argued. Besides, Xiaopeng developed a self-driving system Xpilot looks most analogous to TSLA's Autopilot when compared with other NEV startups.
Production seems to be on its way to rise
According to XPEV's announcements, it plans to build a new factory in Guangzhou, Guangdong province. XPEV used to deliver cars through fabrication by FAW Haima Automobile. As its Zhaoqing plant begins to ship P7 and the planned Guangzhou factory that due to operation in 2022, XPEV may cease its cooperation with Haima Auto. The Guangzhou plant is said to produce 100,000 cars per year and has received CNY 4 billion finance from the local government.