XPeng's Pivot Falls Flat as Shares Near 52-Week Low
XPeng's shares closed at EUR 8.22 on Friday, down 2.3%, as a souring mood across Asian equity markets weighed on tech and auto stocks.
The macro headwinds were compounded by JPMorgan Chase & Co.'s decision to cut its rating from 'Overweight' to 'Neutral' and slash its price target to USD 11.50, citing an increasingly demanding environment for Chinese electric-vehicle manufacturers.
XPeng reported a 15% sequential increase in vehicle deliveries for the third quarter of 2026, with its L03 model line surpassing the 10,000-unit monthly mark in September.
The company is now pivoting to range-extender models, including the GX and G9L, which incorporate onboard combustion engines as generators to address range anxiety among buyers outside major cities.