On September 21, at the Xiaopeng Motors press conference, the price of the Xiaopeng G9 SUV was officially announced, ranging from $43,000 to $60,000 (309,900 yuan to 469,900 yuan).

On July 15, just one day after Xiaopeng announced its newest car, the G9 SUV, its Hong Kong stock price plummeted by almost 12%, and its market value evaporated by more than $1.5 billion (12 billion Hong Kong dollars). 

The price range makes Xiaopeng’s latest car generally cheaper than new SUV offerings this fall from Nio and Li Auto. For example, Nio’s ES7 sells for almost $102,000, while Li Auto’s Li 9 has a list price of just under $99,000 (459,800 yuan).

He Xiaopeng, the founder of Xiaopeng Motors, is full of confidence in the market prospect of the G9 SUV. He believes the sales volume will surpass that of the Audi Q5 next year, and the sales volume of the luxury five-seat SUV will exceed 10,000 in consecutive months. However, the capital market does not seem to think so.

According to a NetEase report, on September 22, the Hang Seng Index opened lower and moved lower. New energy led the decline throughout the day, and Xpeng Motors led the decline in the new energy sector.

Xiaopeng, Weilai, and Ideal, as China’s new energy car manufacturers, “Wei Xiaoli,” started almost simultaneously and collectively appeared on U.S. and Hong Kong stocks.

Recently, “Wei Xiaoli” successively announced its financial results for the second quarter of 2022. According to the announcement, these three car companies all “increased revenue but not profit,” and selling a brand new car and losing $14 thousand (100,000 yuan) has become a hot topic on the Internet.

According to the second quarter financial report, Xiaopeng Motors had a net loss of $380 million (2.709 billion yuan), a year-on-year increase of 126%, and delivered 34,400 vehicles;

Li Auto’s net loss was close to $90,000 (641 million yuan), a year-on-year loss increase of 172%, and delivered 28,700 vehicles.

NIO’s net loss was almost $360 million (2.557 billion yuan), a year-on-year loss increase of 370%, and delivered 25,100 vehicles.

In this way, Xiaopeng loses $11,040 (78,700 yuan) for selling a car, and Weilai loses $14,308 (102,000 yuan).

Recently a Weilai test vehicle fell from the building. As a result, Weilai was recently shorted by the agency, adding to its problems. 

Grizzly Research, a well-known American short-seller, released a June report accusing NIO of financial fraud. Affected by this, NIO’s Hong Kong stocks plummeted. In terms of U.S. stocks, NIO’s stock price has dropped by 67% compared with the highest point last year, and the market value has evaporated by more than $70 billion (500 billion yuan).

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