According to Zhito Finance APP, on Friday, the stocks of Electric Vehicles fell, and by the time of publication, Xiaopeng Motors (XPEV.US) had dropped over 3.7%, Li Auto (LI.US) dropped over 3.6%, NIO (NIO.US) dropped over 1.7%, Rivian (RIVN.US) dropped 1.3%, and Tesla (TSLA.US) dropped 0.06%. On the news front, UBS Group previously released a research report raising Xiaopeng Motors' Target Price from 8.2 dollars to 8.8 dollars, with the rating downgraded from 'Neutral' to 'Sell'. The report mentioned doubts about the sustainability of the delivery volume of 0.01 million units per month for the company’s M03 and P7 models, and a cautious attitude toward the trend of mass-market Electric Vehicles in the first half of next year. Additionally, UBS Group also indicated that although it believes that Extended Range Electric Vehicles (EREV) products could expand the company’s overall market, visibility into the EREV product pipeline remains limited. Whether EREV models can help Xiaopeng expand its scale and reduce operational losses still depends on understanding the Target Consumers, the company's execution of the strategy, and the brand recognition of EREV.