Stock Alert: XPeng Climbs 10% As Deliveries Double
Shares of Chinese smart electric vehicle company XPeng Inc. (XPEV) are climbing more than 10% Monday morning after the company announced more than 200% increase in its October deliveries.
XPeng delivered 3,040 Smart EVs in October, including 2,104 P7s, the company’s sports sedan, and 936 G3s, its compact SUV, a 229% increase year-over-year.
“Despite China’s Golden Week holiday in early October which affected deliveries, the Company sees strong business momentum supported by fast production ramp up and robust demand for its Smart EVs,” XPeng said.
XPEV stock is currently trading at $21.43. It has traded in the range of $17.11- $25 in the last one year.
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