5 Best Non-Tech Chinese Stocks to Buy Now

4. XPeng Inc. (NYSE:XPEV)

Number of Hedge Fund Holders: 29     

XPeng Inc. (NYSE:XPEV) makes and sells smart electric vehicles. On April 1, the shares jumped 7.5% after the company posted stellar EV delivery numbers for March. The firm revealed that it had delivered 15,414 EVs in March, up 202% year-on-year and 148% month-on-month. The total number of vehicles delivered in the first quarter of 2022 stood at 34,561, up 159% year-on-year. The company has so far delivered more than 172,000 across the country. 

On April 1, HSBC analyst Yuqian Ding initiated coverage of XPeng Inc. (NYSE:XPEV) stock with a Buy rating and a price target of $37, noting that the firm had built an autonomous driving setup in-house, a feat no other domestic competitor of the firm has matched so far. The analyst also hailed the system as one of the best available in China. 

At the end of the fourth quarter of 2021, 29 hedge funds in the database of Insider Monkey held stakes worth $1.1 billion in XPeng Inc. (NYSE:XPEV), up from 25 the preceding quarter worth $657 million.