China's hot electric vehicle market has been gaining investor interest, and one analyst sees potential for the sector to grow further. "China's EV market is the largest in the world and also delivers fast growth," Vincent Sun, senior equity analyst at Morningstar said. Sun — who spoke to CNBC Pro on Nov. 1 — remains positive on the sector's growth following a 31% year-to-date jump in EV sales to around 8 million units at the end of the third quarter.
For Xpeng, we believe the upside from new model Mona M03 has largely been priced in," he explained. Rayliant Global Advisors' Jason Hsu, however, believes the smaller automakers will have difficulty nipping away at BYD's share. "I think of the Camry of China. There's not a lot maneuver room for anyone else.