XPeng stock rallies after June deliveries more than double from a year ago

Dow Jones2022-07-01

MW XPeng stock rallies after June deliveries more than double from a year ago

The U.S.-listed shares of XPeng Inc. $(XPEV)$ surged 2.1% in premarket trading Friday, after the China-based electric vehicle maker reported big jumps in June deliveries from a month ago and from last year. The company also said it expect to begin accepting pre-orders for its G9 sports utility vehicle in August, ahead of an official launch in September. For June, the company delivered 15,295 EVs, up 51% from May and up 133% from a year ago. The June deliveries consisted of 8,045 P7 sports sedans, 5,598 P5 sedans and 1,652 G3i and G3 compact sport utility vehicles. For the second quarter, XPeng delivered 34,422 EV, more than rival China-based EV makers NIO Inc. $(NIO)$ and Li Auto Inc. $(LI)$. XPeng's stock has plunged 36.9% year to date through Thursday, while the iShares MSCI China Pacer Swan SOS Fund of Funds ETF|ETF $(MCHI)$ has declined 11.1% and the S&P 500 has shed 20.6%.

-Tomi Kilgore

 

$(END)$ Dow Jones Newswires

July 01, 2022 06:55 ET (10:55 GMT)

Copyright (c) 2022 Dow Jones & Company, Inc.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment