Ping An Securities released a research report stating that it maintains a 'buy' rating on xpeng, taking into account the company's delivery volume for the first three quarters and the subsequent delivery pace of M03 and P7+, the bank has adjusted its revenue forecast for 2024 to 2026 to 42.9 billion/70.1 billion/95 billion yuan respectively, with corresponding net income forecasts of -6.2 billion/-2 billion/0.9 billion yuan.
The recently unveiled new model P7+ is positioned as a high-end pure electric sedan priced at under 300,000 units. The new car will release its pre-sale price and start pre-sale during the Paris Motor Show on October 14, with deliveries beginning in early November. The AI eagle-eye visual smart driving solution brings cost advantages to P7+ after installation, and the bank believes that P7+ is expected to become the company's next high-volume model.
The bank pointed out that the current number of vehicles supporting high-end smart driving solutions by xpeng may lag behind competitors such as Huawei, nio inc, and Li Auto. If the P7+ equipped with the AI eagle-eye visual smart driving solution and the subsequent M03 Max version (equipped with the AI eagle-eye visual smart driving solution) can achieve high volumes, it will further strengthen xpeng's 'smart driving' label and facilitate the iterative development of end-to-end smart driving solutions.
