BUZZ-HK-listed Xpeng jumps most in 16 months on AI-powered sedan launch

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BUZZ-HK-listed Xpeng jumps most in 16 months on AI-powered sedan launch

Reuters11-08

** Hong Kong shares of EV maker Xpeng soar as much as 20% to HK$60; set for biggest one-day pct rise since July 2023

** Stock hits highest since Jan. 2

** Co launches its first AI-powered P7+ sedan starting at 186,800 yuan ($26,134.65), a day after unveiling its extended-range hybrid technology

** Bets on a pivot to more cost-competitive products than pure EVs to boost sales

** Nomura retains "neutral"; says co at the forefront of AI related auto/smart driving/robotics tech advancement, which may help it deliver healthy growth

** Adds if P7+ starting price is around CNY185k or below, "Xpeng could enjoy a strong wave of demand"

** Stock up 4.5% YTD

($1 = 7.1476 Chinese yuan renminbi)

(Reporting by Donny Kwok)

((donny.kwok@thomsonreuters.com))

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