China Specialist, Auto and Industrial Specialist

Victoria Li

20 years experience as sell side analyst focusing on China's Industrial and Auto sectors

China Auto: Outstanding Xpeng in Dark Moment

China Auto: EV Demand Stronger than Expected During National Holiday

China Auto: Chip Shortage Getting Worse and Might Last Longer than Expected

Thematic (Sector/Industry)

China Automobiles / Thematic (Sector/Industry)

<ul>
<li>Auto supply chain issue, including chip shortage, might be worse in 2022E. Local brands might keep gaining market share due to their higher localisation rates</li>
<li>NEV models would continue gaining market shares as they are affected less by chip shortage and more cost friendly when global fuel cost surges</li>
<li>Among three listed EV players, Xpeng (XPEV.US, 9868.HK) has the biggest upside on sales/earnings growth, while NIO(NIO.US) has the biggest uncertainty. </li>
</ul>


Auto supply chain issue, including chip shortage, might be worse in 2022E. Local brands might keep gaining market share due to their higher localisation rates
NEV models would continue gaining market shares as they are affected less by chip shortage and more cost friendly when global fuel cost surges
Among three listed EV players, Xpeng (XPEV.US, 9868.HK) has the biggest upside on sales/earnings growth, while NIO(NIO.US) has the biggest uncertainty. 


China Auto Sector Outlook 2022E