The gap between XPeng’s operational momentum and its stock price has rarely been wider. The electric vehicle maker just posted its best-ever monthly delivery figure, launched a new model in Munich, and completed the world’s first factory dedicated to flying cars — yet its shares remain deep in the red for 2026, closing Friday at €11.28.
That price sits 53.77 percent below the year’s high of €24.40, a brutal descent that has left the stock trading well beneath its key technical levels. The 50-day moving average stands at €12.23, while the 200-day average is higher still — XPeng currently trades 7.80 percent below the former and 28.36 percent below the latter, a textbook downtrend pattern that technical analysts read as persistent seller control.
Deliveries Hit a Record, But Growth Is Slowing
The operational picture tells a more encouraging story. XPeng delivered 38,027 electric vehicles in July, a 4 percent year-on-year increase and a new monthly record. The cumulative tally has now crossed 1.2 million vehicles. Rival NIO, by contrast, delivered 35,934 units in the same month — a 71 percent surge that shows just how uneven the competitive landscape has become among China’s EV startups.
XPeng’s international push is gathering pace. The L03 model made its European debut in Munich on July 16, part of a broader strategy to reach 65 countries by the end of 2026. Australia is slated to receive five new models in the second half of the year, and the company has promised a global rollout of its NGP driver-assistance system in 2027. The company also claims its vehicles delivered between January and July have saved approximately 3.23 million tons of CO2 emissions.
The Flying Car Bet Takes Shape
Beyond conventional EVs, XPeng’s renamed subsidiary ARIDGE — formerly XPeng Aeroht — is positioning itself as a second growth engine. The company says it has completed the world’s first factory dedicated to mass-producing flying vehicles in Guangzhou, with an annual capacity of 10,000 units. The modular “Land Aircraft Carrier” has already attracted more than 7,000 pre-orders, priced at roughly $280,000 each, with a claimed ground range exceeding 1,000 kilometers.
China’s aviation regulator, the CAAC, has accepted the company’s application for type and production certification — a critical hurdle for commercial deployment. The first vehicle rolled off the line in November 2025, series production is expected to begin in 2026, and customer deliveries are targeted for year-end.
There is also talk of a Hong Kong listing for the flying-car unit, with JPMorgan Chase and Morgan Stanley reportedly selected as underwriters and a confidential filing already submitted. A flotation as early as this year is considered possible — a potential catalyst that bulls argue could unlock value without diluting existing XPeng shareholders.
Should investors sell immediately? Or is it worth buying XPeng?
Robotaxis and the Physical AI Narrative
CEO Xiaopeng He has repositioned the company as a broader “Physical AI” platform rather than a pure EV maker, with robotaxis, humanoid robots, and flying taxis as the three pillars of the coming decade. In May, XPeng put its first mass-produced robotaxi on the streets of Guangzhou — a claim it says marks the first time a Chinese automaker has built a robotaxi entirely with in-house technology. A pilot program is planned for the second half of 2026, with a fully driverless service targeted for early 2027.
That ambition, however, carries execution risk. Full autonomous operation requires regulatory approval, customer trust, and fleet data proving the system can handle real traffic at scale. Flying-taxi certification depends on aviation authorities outside XPeng’s control. The company has targeted series production of flying taxis and robots between 2026 and 2027, meaning meaningful revenue from these ventures remains distant.
Why the Market Remains Unconvinced
The stock’s technical condition reflects that skepticism. The relative strength index sits at 44.7 — neutral territory, not the oversold readings that often precede a bounce. Annualized 30-day volatility of 42.74 percent suggests the market is still searching for the right valuation as XPeng pivots its business model.
Analysts see substantial upside: the average price target is €19.47, implying roughly 73 percent potential from Friday’s close. But the wide gap between that consensus and the current price cuts both ways. A stock trading at a fraction of its perceived fair value usually reflects real concerns, not just market myopia.
The recent bounce — a 4.06 percent gain over seven days — offers some encouragement. The first serious test comes at the 50-day moving average of €12.23. A breakout above that level would signal the recovery might be more than a brief counter-move within a broader downtrend. Failure would leave the stock hovering just above its June low of €10.18, a reminder that the bears remain in charge.
For now, XPeng presents a study in contrasts: record deliveries, expanding global footprint, and a pipeline of futuristic products — set against a share price that has lost 37.51 percent since the start of the year. The bull case is real, but it is a multi-year thesis that asks investors to look past a stock that has already been cut in half. Until the technical picture turns, the market seems content to wait for proof rather than promise.
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