Citic forecast for deliveries: The report forecasts XPeng sales to reach 70,000 and 140,000 units in 2021 and 2022, respectively, and to reach 600,000 units in 2025, with a 6 percent share of the new energy vehicle market.
Some good news: Xpeng said it will increase the planned production capacity of its Zhaoqing manufacturing site from 100,000 cars a year to 200,000 and CITIC Securities initiates coverage of XPeng with Buy rating and $55 price target.