Xpeng shares sink as weak delivery forecast overshadows $6.3 billion robot unit valuation
Xpeng shares slid after weak delivery guidance, even as its nascent robotics business secured a valuation nearly matching that of its core EV business.
TL;DR
- Xpeng shares dropped more than 9% in Hong Kong due to a weak third-quarter delivery forecast.
- The company's robotics business secured a valuation exceeding $6.3 billion in its first funding round.
- Xpeng reported a wider net loss in the second quarter, with revenue rising 8%.
- Citi lowered price targets for Xpeng shares, citing supply chain constraints impacting delivery guidance.
- The robotics unit's valuation is nearly equal to the implied value of Xpeng's EV business, according to Citi.