XPeng: Margin Inflection Point Reached

XPeng Inc. is a fast-growing, innovative Chinese EV OEM, now achieving positive EBITDA and scaling rapidly in a highly competitive market. I maintain a Buy rating, targeting $31 for YE27 (64% upside), based on strong volume growth, margin expansion, and over 60% forecasted earnings growth for 2026-2028. Robotaxi and robotics initiatives offer additional upside optionality, though competition, price wars, and tariff risks remain material.