Is XPeng Stock a Buy?
China is a leading market for electric vehicles. BloombergNEF estimates there were global sales of roughly 6.3 million electric vehicles (EVs) in 2021. Of these, around 3 million were sold in China. XPeng (NYSE: XPEV) sold 16,000 EVs in China in December, which looks impressive considering that it is competing with far bigger and more established companies in the sector. Let's discuss if the EV stock is a buy right now.
Some top players dominate the Chinese EV market. BYD (OTC: BYDDY) (OTC: BYDD.F) sold the most electric vehicles in China in December --92,823 -- of which 48,317 were fully electric, while the remaining were plug-in hybrids.
Image source: Getty Images.
Source Fool.com
