Close menu




March 26th, 2024 | 07:15 CET

BYD, First Hydrogen, XPeng - When will the rebound follow?

  • Hydrogen
  • greenhydrogen
  • Electromobility
Photo credits: pixabay.com

In addition to the DAX and the Dow Jones, the technology-heavy Nasdaq also celebrated another all-time high. With three more interest rate cuts forecasted by the Fed for this year, there is still significant upside potential for the more capital-intensive stocks. The rally is mainly being driven by the Magnificent Seven. Behind them are promising companies that are still lagging far behind their price potential.

time to read: 3 minutes | Author: Stefan Feulner
ISIN: BYD CO. LTD H YC 1 | CNE100000296 , First Hydrogen Corp. | CA32057N1042 , XPeng Inc ADR | US98422D1054

Table of contents:


    BYD - Analysts set the tone

    So far, the current stock market year has been disappointing for the new global market leader in electric vehicles, although BYD has celebrated a promising comeback in recent weeks. The shares of the Company, co-financed by Warren Buffett, plummeted by around 35% to an annual low of USD 21.80 by the beginning of February before the stock could recover significantly to its current level of USD 27.30. The bottom line for the Shenzhen-based company is a loss of 3.5%.

    If Citigroup analysts have their way, the share price is likely to change quickly. That is because they predict that the recent decline in sales could end this month. Expressed in figures, the experts estimate deliveries of 320,000 electric vehicles and have, therefore, issued a price target of the equivalent of USD 57.57.

    Strategically, BYD intends to continue its expansion, especially in Europe. Since the third quarter of 2022, the technology group has already launched several models in 20 European countries, including Germany, the UK, Spain, Italy, France, the Netherlands, Norway and Hungary. A new target market has now been found in Greece. BYD plans to launch two models there, the Yuan PLUS (BYD ATTO 3) and the Seal.

    First Hydrogen - Continues with record figures

    The hydrogen innovator First Hydrogen, based in Vancouver, Montréal and London, is currently presenting a contrasting picture. While the tests of light commercial vehicles powered by hydrogen fuel cells are delivering one record after another, the share price cannot escape the pull of the general market correction in the hydrogen sector. Since January 2023, First Hydrogen shares have lost around 75% of their value to the current CAD 1.20, similar to the market leaders in the sector. For weeks now, however, the aforementioned shares have been forming a sustainable floor that could herald the next upward wave in this future technology. In the case of First Hydrogen, the rebound could be significant. After the trend following indicator formed a double divergence since April 2023, the stock could react in the first wave up to the CAD 2.00 area.

    From a strategic perspective, everything is going according to plan. The tests under real road conditions were successfully completed with gas network operator Wales & West Utilities, which operates 1,300 fleet vehicles and supplies gas to more than 7.5 million customers. During the four-week field tests, in which more than 2,000 km were covered in sub-zero temperatures, the light commercial vehicles impressed the test drivers.

    It was possible to analyze that the vehicle performance and range do not decrease even at colder temperatures. On the contrary, the prototype demonstrated suitability for demanding tasks such as transporting heavy payloads, towing and powering auxiliary equipment such as onboard power, and the full performance of the fuel cell module with an output of more than 60 kW during short-term accelerations.

    Steve Gill, Executive Director Automotive at First Hydrogen, was delighted with the positive tests: "We are thrilled with the feedback from Wales & West Utilities. Having covered more miles in this single test run than ever before, we have gathered a significant amount of vehicle data."

    XPeng - Attacking the low for the year

    In contrast to the leader in the Chinese market, BYD, the much smaller electric vehicle manufacturer and partner of Volkswagen has not yet been able to recover from the correction that has been ongoing since the beginning of the year. Since January 1, XPeng shares have lost more than 40% of their value and are making great strides towards the annual low of USD 7.80 reached in February. Falling below this level would generate a new sell signal. The next marked support area would be USD 6.18.

    The figures reported by the Guangzhou-based company last week contributed to the further fall in the share price. The Company delivered 141,601 electric vehicles in 2023, representing a year-on-year increase of 17.3%. Revenue increased in line with the rise in deliveries, up 14.2% to EUR 3.98 billion on the previous year.

    In the fourth quarter alone, sales amounted to 60,158 units due to a product offensive and the expansion of the model range, an increase of 171% compared to the final quarter of the previous year. However, investors were negatively affected by the also increased loss, which grew by 13.5% to now EUR 1.35 billion.


    BYD recovered from the share price losses in the first month of the year and now wants to expand further in Europe. In contrast, competitor XPeng is close to its low for the year after widening its annual loss. First Hydrogen successfully completed another test of its light commercial vehicles.


    Conflict of interest

    Pursuant to §85 of the German Securities Trading Act (WpHG), we point out that Apaton Finance GmbH as well as partners, authors or employees of Apaton Finance GmbH (hereinafter referred to as "Relevant Persons") may hold shares or other financial instruments of the aforementioned companies in the future or may bet on rising or falling prices and thus a conflict of interest may arise in the future. The Relevant Persons reserve the right to buy or sell shares or other financial instruments of the Company at any time (hereinafter each a "Transaction"). Transactions may, under certain circumstances, influence the respective price of the shares or other financial instruments of the Company.

    In addition, Apaton Finance GmbH is active in the context of the preparation and publication of the reporting in paid contractual relationships.

    For this reason, there is a concrete conflict of interest.

    The above information on existing conflicts of interest applies to all types and forms of publication used by Apaton Finance GmbH for publications on companies.

    Risk notice

    Apaton Finance GmbH offers editors, agencies and companies the opportunity to publish commentaries, interviews, summaries, news and the like on news.financial. These contents are exclusively for the information of the readers and do not represent any call to action or recommendations, neither explicitly nor implicitly they are to be understood as an assurance of possible price developments. The contents do not replace individual expert investment advice and do not constitute an offer to sell the discussed share(s) or other financial instruments, nor an invitation to buy or sell such.

    The content is expressly not a financial analysis, but a journalistic or advertising text. Readers or users who make investment decisions or carry out transactions on the basis of the information provided here do so entirely at their own risk. No contractual relationship is established between Apaton Finance GmbH and its readers or the users of its offers, as our information only refers to the company and not to the investment decision of the reader or user.

    The acquisition of financial instruments involves high risks, which can lead to the total loss of the invested capital. The information published by Apaton Finance GmbH and its authors is based on careful research. Nevertheless, no liability is assumed for financial losses or a content-related guarantee for the topicality, correctness, appropriateness and completeness of the content provided here. Please also note our Terms of use.


    Der Autor

    Stefan Feulner

    The native Franconian has more than 20 years of stock exchange experience and a broadly diversified network.
    He is passionate about analyzing a wide variety of business models and investigating new trends.

    About the author



    Related comments:

    Commented by Fabian Lorenz on October 22nd, 2025 | 07:15 CEST

    HYDROGEN IS ALIVE! Bloom Energy, thyssenkrupp nucera, and dynaCERT! 1,000% not enough?

    • Hydrogen
    • greenhydrogen
    • cleantech
    • renewableenergies

    Plug Power has gained nearly 500% since May, proving that hydrogen is very much alive. The applications may be different from what was expected in the hype a few years ago - more specific and niche-focused. Investors are speculating that hydrogen will benefit from the energy boom driven by artificial intelligence. The same applies to Bloom Energy, whose stock has exploded by 1,000% over the past year. dynaCERT is active in an exciting niche, offering conversion kits for diesel engines ranging from trucks to container ships. Initial sales successes give hope for more. Will emission certificates follow? And what is Germany's hydrogen hope, thyssenkrupp nucera, doing? It remains in the shadow of TKMS. Still, one analyst sees upside potential of around 50%.

    Read

    Commented by Nico Popp on October 22nd, 2025 | 07:10 CEST

    Hype and day-to-day business – What matters now: European Lithium, BMW, Mercedes-Benz

    • Mining
    • Lithium
    • CriticalMetals
    • Electromobility
    • RareEarths

    European Lithium shares have recently caused quite a stir. But what is behind the surge that has multiplied its value within just a few days? What role does the Company actually play - for the US and also for Europe? We sort through the many reports on European Lithium and show where the Company could be headed in the medium term. One thing seems certain: Without European Lithium, the outlook for the automotive industry on both sides of the Atlantic looks bleak. Reason enough to take a closer look at the background.

    Read

    Commented by Carsten Mainitz on October 21st, 2025 | 07:40 CEST

    Power Metallic Mines, RENK, BYD – An explosive combination! And the winners are?

    • Mining
    • Copper
    • Nickel
    • Gold
    • CriticalMetals
    • Electromobility
    • Defense

    Many topics are dominating the headlines. Peace in Gaza – and soon in Ukraine? This prospect initially put a significant damper on defense stocks – but only temporarily. After just a few days of correction, prices are already rising again. Gold at an all-time high is another major topic being covered in the media. Meanwhile, the geopolitical shifts we were reluctant to acknowledge for far too long are now catching up with many companies: China is cutting the world off from critical raw materials and rare earths. Read here to find out how investors can identify promising high-potential opportunities in this constellation.

    Read