When Steve Jones first highlighted Xpeng (XPEV) on August 17, 2025, he pointed out that the company was quietly modernizing hybrids and redefining how investors should view Chinese EV startups. In the days since that post, the stock has surged, proving once again why Steve’s analysis consistently gets ahead of the curve.

A Strong Move in Just Five Trading Days

On August 18, the trading day following Steve’s write-up, XPEV closed at $20.29. By the end of trading on August 22, the stock had climbed to $23.75. That’s a ~17% gain in less than a week, a rapid move that reflects both strong fundamentals and renewed investor confidence in the EV maker.

The Catalyst: Q2 Earnings Blowout

Xpeng’s momentum was powered by a blockbuster Q2 earnings release:

Deliveries: 103,181 vehicles in Q2, up 241.6% year-over-year. Revenue: RMB 18.27 billion (~US$2.55 billion), up 125.3% YoY and 15.6% quarter-over-quarter. Margins: Gross margin expanded to 17.3%, while vehicle margin rose sharply to 14.3%, more than double last year’s level.

These numbers highlight both surging demand and operational discipline, two elements that investors had been waiting to see from Xpeng.

Analysts Back the Bullish Case

Following earnings, major Wall Street firms moved quickly to raise their price targets:

Bank of America lifted its target to $26. Citigroup boosted its target to $29.40.

Both maintained “Buy” ratings, underscoring the view that Xpeng’s growth runway remains wide open.

Looking Ahead

Steve’s August 17 pick was perfectly timed. The nearly 17% rally shows how quickly market sentiment can shift when fundamentals align with execution. With rising deliveries, expanding margins, and supportive analyst coverage, Xpeng has proven itself more than just another EV hype stock — it’s an operator with traction.

The takeaway? Steve Jones called it first. And if the past week is any indication, the Xpeng story may still be in the early innings.