Daiwa Securities initiated coverage of Motors Hong Kong shares with a Buy rating and a HK$200 price target, according to Sina.com.cn.

Xpeng closed up 3.08 percent to HK$173.88 in Hong Kong on Wednesday, and Daiwa's price target implies a 15 percent upside.

Daiwa expects Xpeng to be a leader in China's autonomous driving space and a leader in its commercialization process.

Join us on or

The team believes Xpeng will be profitable by 2022.

The Sina report did not provide further details.

More From CnEVPost

Daiwa initiates coverage on Xpeng with Buy rating and HK$200 price target for its HK shares-CnEVPost
Xpeng targets 20,000 monthly production capacity for Mona M03 by Chinese New Year
Daiwa initiates coverage on Xpeng with Buy rating and HK$200 price target for its HK shares-CnEVPost
Xpeng Aeroht says its modular flying car gets 2008 pre-orders at Airshow China
Daiwa initiates coverage on Xpeng with Buy rating and HK$200 price target for its HK shares-CnEVPost
Xpeng enters Nepal, begins local deliveries of G6
Daiwa initiates coverage on Xpeng with Buy rating and HK$200 price target for its HK shares-CnEVPost
Xpeng begins volume deliveries of P7+