Jefferies analysts see a 45% upside for XPeng, setting a $30 price target as the electric vehicle maker pivots to a tech mobility company. The brokerage cites tangible progress from its AI initiatives, which are beginning to generate commercial outcomes. It values the firm using a sum-of-the-parts approach for this transition.

XPeng's vehicle deliveries are forecast to rise 41% to about 605,000 units, driven by overseas expansion and a new dual powertrain strategy. Exports are expected to climb 83% to 80,000 units. The core of its tech push is the VLA 2.0 Physical World Large Model, which improves advanced driver assistance and supports navigation-free driving ambitions.

The first major AI initiative to reach market is robotaxis. XPeng plans three models for 2026, with pilot fleets in Guangzhou. Jefferies also notes humanoid robots for retail and office use, though its rollout forecast is conservative. Commercializing Turing chips beyond internal use, including a Volkswagen co-developed model, is another growth pillar.