Xpeng Motors’ flagship SUV G9 to become crucial catalyst of the carmaker in second half – Morgan Stanley
Xpeng Motors’ flagship SUV G9 to become crucial catalyst of the carmaker in second half – Morgan Stanley

Xpeng Motors’ flagship SUV G9 to become crucial catalyst of the carmaker in second half – Morgan Stanley

 

>>REAL-TIME UPDATES IN THE WIRE. CLICK HERE<<<

 

 

Morgan Stanley said that it anticipated Xpeng Motors’ flagship SUV G9 will become a crucial catalyst for the carmaker in the second half of this year as well as the company’s main offering in the premium SUV segment. The bank rated XPeng’s US stocks at Overweight, with a target price of $41.

“We believe market feedback on G9 will dominate XPeng’s stock movement,” the note reads.

XPeng Motors’ G9 received 22,819 pre-orders in 24 hours after it opened for pre-sale, with the first pre-order coming from Shanghai, the carmaker said on social media Weibo on Thursday.

XPeng announced on August 10 that G9 was available for consumer pre-orders, with the official launch set for September.

The company said the G9 is China’s first production vehicle built on the 800V high-voltage SiC platform and can get a 200km range in 5 minutes of charging time, making it the world’s fastest charging production vehicle. The carmaker will begin laying out the 800V high-voltage charging system in China this year, with a maximum charging power of 480 kW and a maximum current of 670 A, it said.

Pricing information for the XPeng G9 has not yet been released, and the analysts at Morgan Stanley believe this will be the most important factor for the market to gauge the G9’s sales prospects.

The bank expects the XPeng G9 flagship version to be priced close to 350,000 yuan ($52,000) – 400,000 yuan, while versions priced around 300,000 yuan should be the key sales driver.

Xpeng Motors is trading 4.5% higher in Hong Kong as of 15:08 local time.

xpeng motors