Select Language:
On November 12, a Chinese electric vehicle startup experienced a significant increase in its market value, reaching HKD202.2 billion (approximately USD26 billion), surpassing the traditional automotive leader Geely, which was valued at HKD183.3 billion yesterday.
Following an 18 percent surge in the stock price yesterday, shares of the company fluctuated, closing today at HKD105.20 (about USD13.54), with a market capitalization of HKD200.5 billion. Meanwhile, Geely stock declined 2.5 percent to HKD17.67 (roughly USD2.27).
The notable rise in the company’s stock is primarily driven by positive market expectations surrounding its advancements in robotic technology and potential commercial applications, according to an industry analyst from a top Hong Kong research institute.
Earlier this month, the company introduced multiple new artificial intelligence products and innovative applications, including a Vision-Language-Action model, a robotaxi service, the Xpeng Iron humanoid robot, and flying vehicle concepts. They also began pre-sales for the X9, a highly extended-range, seven-seater electric vehicle.
The Xpeng Iron robot has garnered widespread interest and praise from investors due to its fluid, natural movements and sophisticated AI capabilities. This innovation is believed to be the main factor behind the recent stock increase.
The sharp rally in shares was likely fueled by a combination of recent positive developments. Despite challenges faced by many new energy vehicle startups, the company reported a sales increase last month compared to the same period last year and September, with its primary operations performing strongly, an investment expert stated.
Based in Guangzhou, the company continues to release promising information in the emerging tech sector. Although many of its latest smart product launches are still in development stages, they continue to inspire investor enthusiasm and imagination.
Besides its appealing vehicles, the company’s ventures into AI and robotics are broadening investor interest, leading some to describe it as a “Tesla clone.”
The company’s leadership emphasizes that innovative firms often reach their goals through diverse pathways. The CEO noted, “Tesla is a fantastic company, and I believe more remarkable companies like it will emerge worldwide.”
Recently, Tesla’s CEO publicly expressed admiration for a video showing the company’s robot, and he predicted that both U.S. and Chinese new energy vehicle manufacturers will dominate the future market—showing considerable respect for Chinese competitors.
ChatGPT
Perplexity
Gemini AI
Grok AI
