XPeng (XPEV) Misses Q1 EPS by 65c, Misses on Revenue, Delivers 18,230 EVs; Offers Q1 Guidance
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Barclays downgrades Xpeng (XPEV) following disappointing 1Q miss
May 25, 2023 9:52 AM EDTBarclays downgraded XPeng Inc. (NYSE: XPEV) to an Underweight rating and cut their 12-month price target on the stock to $6.00 (From $8.00) following the electric automakers disappointing 1Q earnings results.
Xpeng reported total revenue of RMB 4.0bn, -45.9% yoy, -2.1% lower than Barclays estimate. Vehicle sales were RMB 3.5bbn, -49.8% yoy, -4.1% lower than expected due to lower-than-expected vehicle deliveries and to a much smaller extent the expiry... More
Jaguar Land Rover-owner set to choose UK over Spain for EV battery plant
May 24, 2023 3:04 PM EDTThe BBC reports Wednesday that Tata Motors, parent company to Jaguar Land Rover Automotive, is set to pick Britain for a multi-billion dollar electric vehicle battery plant. A plant some have described as the most significant investment in UK automotive since Nissan came to Britain in the 1980s.
A Tata chairman is expected to fly to London next week to meet the prime minister and finalize the deal to build the battery factory, which could employ 9,000 people in Somerset,... More
BMW unveils new electric i5 with 295-mile range
May 24, 2023 2:28 PM EDTThe BMW Group unveiled its new 2024 BMW i5 during a digital world premiere on Wednesday after teasing glimpses of its first all-electric 5 Series for weeks.
As a combustion model, the 5 Series has held a prominent position in the company's lineup since 1972, and it continues to be the second best-selling vehicle for the German automaker behind the 3 Series. It has been known for a while now that BMW has been actively developing an all-electric version of the 5 Series, alongside plug-in hybrids and traditional combustion engine options.
With its unmistakable resemblance to the 5 Series,... More
XPeng (XPEV) sinks following 1Q miss and weak forecast
May 24, 2023 8:08 AM EDTShares of Chinese electric automaker XPeng Inc. (NYSE: XPEV) are down more than 5% in pre-market trading on Wednesday following its disappointing Q1 earnings report that fell short of expectations.
The automaker reported a RMB2.57 loss per adjusted diluted share, missing the consensus of (RMB1.92). Meanwhile, total revenue was reported at RMB4.03 billion (US$0.59 billion), missing consensus of RMB5.15 billion, representing a decrease of 21.5%... More
XPeng Inc. (XPEV) sinks nearly 6% on Q1 miss
May 24, 2023 6:55 AM EDTXPeng Inc. (NYSE: XPEV) is trading down 5.6% following a Q1 miss on the top and bottom line
reported Q1 EPS of (RMB2.57), RMB0.65 worse than the analyst estimate of (RMB1.92). Revenue for the quarter came in at RMB4.03 billion versus the consensus estimate of... More