Automotive Nov 05, 2020 04:26 PM (GMT+8) · EqualOcean
As of the close of US stocks on Wednesday, the Chinese EV manufacturer saw its share price soar 23.32% to close at USD 27.39. The share price of the firm has been rising for three consecutive days. After rising nearly 7% on Monday, Xpeng shares continued to grow 7.19% at the close of trading on Tuesday. The so-called Tesla rival announced its delivery results for October 2020 on Monday, which showed that the company delivered 3,040 EVs, a year-on-year increase of 229%, mainly driven by sales of the P7 sedan launched earlier this year. Out of the total, P7 accounted for 2,104 vehicles. Compared with September, the company's October deliveries declined month-on-month but reached more than 3,000 vehicles for two consecutive months. From January to October this year, the company has delivered 17,117 EVs, a year-on-year increase of 64%. Currently, the company has launched two electric vehicles, namely G3 SUV and Xiaopeng P7. It claims to position its models as direct competitors of Tesla Model Y and Model 3, with a cheaper price tag.

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