Goldman Sachs China Stocks: 10 Stocks to Buy

5. XPeng Inc. (NYSE:XPEV)

Number of Hedge Fund Holders: 19

Goldman Sachs Equity Stake: $25.29 Million

XPeng Inc. (NYSE:XPEV) is one of Goldman Sachs’ top Chinese stock picks. On June 17, Goldman Sachs upgraded the stock to a ‘Buy’ from a ‘Neutral.’ It also hiked the price target from $18.60 to $24. The upgrade is in response to significant strategic improvements at the Chinese electric vehicle manufacturer.

According to the research firm Xpeng, it has conducted significant organizational restructuring, supply chain optimization, and cost reductions. The investment bank is also impressed by the company stepping up model launches.

Goldman Sachs expects the strategic improvements to transform Xpeng’s product cost structure and strengthen its competitive edge in the electric vehicle market. The investment bank also projects sustainable sales volume growth due to the improvements. The remarks come as XPeng strengthens its position in the Chinese electric vehicle market. Using platform improvement initiatives, it’s maintaining its position against domestic and international rivals.

XPeng Inc. (NYSE:XPEV) is a Chinese company that designs, develops, manufactures, and markets Smart Electric Vehicles (Smart EVs). It integrates advanced technologies like internet connectivity, AI, and driver-assistance systems into vehicles.