The stock price of the Chinese electric vehicle maker Xpeng on the first day of its New York Stock Exchange listing was amazing – it closed up 41.5% at $21.22 on Thursday. Though some analysts have warned of the bubble, the wild climb-up indicates the heat of EV stocks among investors, ignited by Tesla’s strong performance. Xpeng is another Chinese EV maker that’s operating at a loss and relying on investors’ financial backing, together with its domestic counterparts Nio and Li Auto. However, the company’s claimed ‘strong capability in self-driving’ has made it outstanding compared to its peers.
