Tesla Inc (NASDAQ: TSLA) investors have been happy with their investment returns over the past year. A $1,000 investment in the stock a year ago (on Dec. 6), is now worth $1,327.55. That's a 32.75% return. News of the company's Cybertruck production and record car deliveries have boosted Tesla's stock.
If you take a closer look at the chart above, you'll see that there's another electric vehicle (EV) manufacturer that has yielded higher returns for investors over the past year. This company is the Chinese EV manufacturer, XPeng Inc (NYSE: XPEV). Over the last twelve months, XPeng's stock has delivered a return of 38.49% to its investors.
So, a $1000 investment in the stock a year ago would have grown in value to $1,384.94.
XPEV stock has also been boosted by month-on-month strong delivery numbers. The company has seen 10 months of consistent growth. Recently, it launched their first multi-purpose vehicle (MPV) model at the Guangzhou Auto Show. The new MPVs are aimed at wealthier Chinese households, hence, promise higher margins.
While reporting Q3 delivery numbers (40,008 vehicles), XPeng' (XPEV)'s Co-President Hongdi Brian Gu said that he expects new products and technology-driven cost controls to contribute to gross margin improvements at XPeng.
XPeng expects to deliver between 59,000 and 63,500 vehicles in Q4.
While the market frenzy and enthusiasm over Tesla's stock is warranted, investors in the EV space may also want to keep XPEV stock on their watchlists.
Other EV makers such as NIO Inc (NYSE: NIO) and Lucid Group Inc (NASDAQ: LCID) are down 43.88% and 51.56% over the same period.