The EV landscape is heating up, and three key players — Tesla Inc (NASDAQ:TSLA), Nio Inc – ADR (NYSE:NIO) and XPeng Inc – ADR (NYSE:XPEV) — are battling for dominance. But who's winning the race?
Tesla: The Global Titan
Tesla has been in the driver's seat for years, and despite its stock being down 7.11% in the past year, it's making bullish moves. Elon Musk's ambitious robotaxi plans could reshape urban transport, posing a threat to Uber Technologies Inc (NYSE:UBER) and Lyft Inc (NASDAQ:LYFT).
Add to that a more affordable Tesla vehicle on the horizon, and the company is positioning itself to fend off Chinese competitors like BYD Co Ltd (OTCPK:BYDDF).
Chart created using Benzinga Pro
Technically, Tesla's in a sweet spot. The stock's trading at $243.92, comfortably above key moving averages such as the 20-day SMA of $220.34.
Source: Benzinga Report – TSLA
With analysts giving a 12-month price target range of $22.86 to $310, Tesla's future looks volatile but full of upside potential.
Read Also: Tesla Bull Explains Why Elon Musk's xAI Is Critical To EV Maker's Autonomous Ambitions
Nio: The Underdog With Momentum
Nio has taken a beating, with its stock down a staggering 38.78% over the past year.
But don't count them out. NIO's strategic partnerships — such as securing batteries from BYD — and the launch of its cheaper ONVO L60 are targeting Tesla's price-sensitive consumers. The L60, priced below Tesla's Model Y in China, could be a game changer.
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On the technical front, Nio's stock is currently trading at $5.40, above its 50-day SMA of $4.42, signaling buying pressure.
Source: Benzinga Report – NIO
With an estimated 37.53% upside potential, Nio might be down, but it's far from out.
XPeng: The Dark Horse
XPeng's stock has also struggled, down 42.57% year over year, but its progress is undeniable.
From rolling out its 500,000th vehicle to eyeing European markets with participation in the Paris Motor Show, XPeng is playing the long game.
Chart created using Benzinga Pro
Technically, the stock is trading at $9.39, above its 20-day SMA of $8.34, flashing bullish signals.
Source: Benzinga Report – XPEV
Analysts predict up to a 10.47% price increase, making it a slower burn as compared to its rivals.
The Verdict
Tesla leads with innovation and market dominance, but Nio and XPeng are closing the gap, especially in the price-sensitive Chinese market.
Keep an eye on the underdogs!
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Photos: Tesla Model S, courtesy Tesla; Nio ES6, courtesy Nio; XPeng P7, courtesy XPeng