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We asked Google Bard what will be Nio, Xpeng, Li Auto end of 2023 stock prices

We asked Google Bard what will be Nio, Xpeng, Li Auto end of 2023 stock prices

China, renowned as the world’s largest automobile market, has emerged as a hotbed of innovation in the electric vehicle (EV) industry in recent years. Spearheaded by a wave of promising startups, the Chinese EV sector is intensifying its efforts to challenge the dominance of industry titan Tesla (NASDAQ: TSLA). 

This rapid growth and promising prospects of Chinese EV makers have captured the attention of investors, making them attractive opportunities in the stock market. With their ambitious expansion plans, technological advancements, and increasing market share, these companies are viewed as high-potential investments that could experience significant growth and generate substantial returns for shareholders. 

In that context, on June 15, Finbold reached out to Google Bard, Alphabet’s artificial intelligence (AI) chatbot, to offer a prediction on stock prices of China’s fastest-growing EV manufacturers, including Nio (NYSE: NIO), Xpeng (NYSE: XPEV) and Li Auto (NASDAQ: LI), for the end of 2023. 

Nio (NYSE: NIO)

Established in 2014, NIO has swiftly risen to prominence as one of the most promising EV startup companies and a potential challenger to Tesla’s supremacy.

In its predictions, Google Bard was bullish on the Hefei, China-based carmaker, estimating the company’s stock price to reach $12 per share at the end of 2023, suggesting a 31% increase from its current price.

“I believe that Nio is well-positioned to continue its growth in 2023, as the Chinese EV market is expected to continue to expand. Nio has a strong lineup of vehicles, including the ES8, ES6, and ET7, and it is also expanding its battery swap network.”

– Google Bard wrote in its response.
Google Bard’s 2023-end prediction for NIO. Source: Google Bard

Earlier this week, Nio cut the prices on all of its vehicles by around $4,200, propelling its price in the past week. The move, which could lure a fresh wave of buyers, comes after Tesla introduced several aggressive price cuts in recent months, both in China and in the US. 

Nio stock price analysis

At press time, Nio’s shares were trading at $9.05 apiece, after closing up 1.80% on June 14. Over the past 7 days, NIO saw its share price rise by more than 16%, marking an impressive rebound after ending May 2023 at $7.54 per share.

NIO 1-week price chart. Source: Finbold

XPeng (NYSE: XPEV)

XPeng Motors has gained acclaim in recent years for its innovative and technologically advanced electric vehicles. The company focuses on intelligent driving capabilities, offering features such as autonomous parking and over-the-air software updates.

For Xpeng, Bard predicted the automaker’s NYSE-listed shares will end the year at $13, implying a possible upside of 20% from the last closing price. 

“I believe that Xpeng is another Chinese EV maker that is well-positioned for growth in 2023. Xpeng has a strong lineup of vehicles, including the P7 and G3, and it is also expanding its sales network.”

– Bard predicted.
Google Bard’s 2023-end prediction for XPEV. Source: Google Bard

The Guangzhou, China-based manufacturer announced on June 15 it has launched its assisted-driving technology in Beijing and three other cities in the country, propelling its shares up more than 4% in Hong Kong, while its US-listed stock rose nearly 2% in US premarket trading. 

The company said intends to roll out the new feature into “dozens of cities” later in 2023.

XPeng stock price analysis

At the time of publication, XPEV shares stood at $10.80 in the US, up 4.96% on the day. 

Over the past week, the company’s shares soared by as much as 26.4%after the company said its fresh G6 SUV model received 25,000 pre-sale orders in just 72 hours.

XPEV 1-week price chart. Source: Finbold

Li Auto (NASDAQ: LI)

Li Auto, another prominent Chinese carmaker, stood out from its rivals with its extended-rage EV lineup, thereby establishing a unique niche in the biggest auto market. 

Currently trading at less than $34 per share, Google Bard provided a notably bullish prediction on LI shares, saying it expects their price to surge to $40 apiece at the end of 2023. 

The chatbot’s forecast was based on Li Auto’s “unique” offerings, adding “it is the only one that offers a battery subscription service.” 

Thanks to its extraordinary position in the market, the company could “attract more customers” and boost its profitability, Bard said.

Google Bard’s 2023-end prediction for LI. Source: Google Bard

Li Auto said it delivered an impressive 11,900 plug-in hybrid EVs from June 1 to June 11, adding it expects to hit a monthly delivery milestone of 30,000 for the entire month. 

Li Auto stock price analysis

Shares of Li Auto closed at $33.80 on Wednesday, June 14, witnessing a 7.3% price surge driven by its optimistic delivery guidance.

Over the past week and month, LI rose more than 4.2% and 16.5%, respectively. 

LI 1-week price chart. Source: Finbold

Chinese EV market landscape

In recent weeks, Chinese EV manufacturers NIO, Xpeng, and Li Auto have seen significant advancements both in their company performance and technological innovation. In turn, these positive developments could unlock the untapped potential of these companies in the stock market, attracting investors who recognize the strides they have made in the highly competitive electric vehicle industry.

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