Electric-car sales are hitting fresh records around the world. Tesla and BYD are leading the charge, achieving record numbers in the second quarter. Rival Xpeng has a less enviable distinction: as the most divisive Chinese EV maker among investors.

Short interest in Xpeng’s outstanding shares neared a new high this week. Bear positions have almost tripled since the start of the year, according to S&P Global Market Intelligence. The surge of short interest in Xpeng’s US-listed American depositary receipts started last December. It is now one of the most shorted Chinese companies by US investors.

This goes to show that not all Americans agree with Jamie Dimon. JPMorgan, the US bank he runs, is a cheerleader for the middle-of-the-road carmaker. It increased its long position from 5.6 to 6.4 per cent last month. The shares are up 84 per cent from the start of June.