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Barchart
Barchart
Mohit Oberoi

Is Beaten-Down Xpeng Motors Stock a Buy Ahead of Make-or-Break 2024?

XPENG Motors Xpeng XPEV Alibaba BABA JD

While Chinese electric vehicle (EV) maker Xpeng Motors (XPEV) managed to close in the green last year, the stock fell sharply from its 2023 highs. The shares have looked weak in 2024, as well; they've lost more than 14% so far this year, and are down over 23% in the last three months.

Last year was an eventful one for Xpeng Motors, and it announced its new low-cost SEPA 2.0 platform. It also partnered with Volkswagen (VWAGY), which not only took a stake in the company, but will also co-develop vehicles with Xpeng for the Chinese market. 

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