Volkswagen Group Makes Strategic Investment into XPENG ($XPEV) to Develop B-Class EVs in China
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UBS cuts XPeng (XPEV) to Neutral amid VW collaboration
July 31, 2023 8:06 AM EDTUBS downgraded XPeng (NYSE: XPEV) to a Neutral rating (From Buy) and raised their 12-month price target on the stock to $23.00 (From $12.00) after the carmaker announced a collaboration with Volkswagen.
While we share the market's positive view on VW's investment and collaboration, and pricing competitiveness of G6's... More
Western OEMs look to cut costs in fight against Chinese EV 'invasion'
July 27, 2023 2:31 PM EDTFrench car maker, Renault announced Thursday that the company was aiming to cut its EV production costs by 40%, as growing fears of an "invasion" of cheap Chinese electric cars threaten western automakers.
CFO, Thierry Pieton, expressed that the most effective strategy against price competition is to reduce the company's own development and manufacturing expenses.
Although the goal to decrease costs by 40% is aimed for 2027 and beyond, CEO Luca de Meo stated that the group anticipates considerably lower production costs starting from the latter half of this... More
