Xpeng Shares Drop Over Weak Delivery Forecast Despite Robotics Unit Valuation
Shares of Chinese EV maker Xpeng fell over 9% in Hong Kong after it issued weaker-than-expected third-quarter delivery guidance, overshadowing the $6.3 billion valuation achieved by its robotics business unit following a funding round that raised more than $900 million. Xpeng reported a second-quarter net loss of 1.34 billion yuan and forecast deliveries between 115,000 and 121,000 vehicles for Q3—below investor expectations due to supply chain issues affecting the ramp-up of its MONA L03 model. Citi slightly lowered price targets for Xpeng's shares in response. The robotics unit’s valuation suggests that if fully reflected in Xpeng’s stock value, it would imply an EV business worth around $6.5 billion—roughly equal to the robotics segment.
Topics: automotive electric vehicles (EVs) investment robotics