XPeng and Volkswagen expand partnership to include ICE and PHEV platforms in China, accelerating software-defined vehicle strategy and boosting product competitiveness.
China is one of the largest EV markets in the world and an important market for Tesla. Competition is increasing and a smartphone company is the latest to challenge Tesla.
Nvidia stock down as AMD and Super Micro disappoint, but still trading at a 3% discount to 52-week high. AMD beats revenue but misses earnings, Super Micro reports lower guidance. Chinese automakers ditching Nvidia chips.
Chinese EV makers XPeng, ZEEKR, Li Auto, and NIO saw stocks drop despite individual success. ZEEKR's combined brands delivered 44,193 cars, Li Auto reported 30,731 deliveries, and NIO delivered 21,017 vehicles. XPeng set a record with 36,717 deliveries in July.
As stock indexes hit new all-time highs, investors may grow wary of buying new names for their portfolios, this is where discounted names come into play.
Chinese EV maker XPeng plans to hire 8,000 workers this year, with stock surging 52% YTD. It targets global expansion and reported strong financial growth.
US-listed Chinese stocks gained following US govt's decision to lift chip export restrictions to China. Includes Alibaba, PDD, JD, Baidu, NIO, Li Auto, XPeng, and Nvidia's new RTX PRO chip designed for Chinese market.
