What's Going On With XPeng Stock Wednesday?

Shares of XPeng Inc. XPEV are trading slightly lower on Wednesday, reflecting a broader trend in U.S.-listed Chinese stocks, which have been trading lower recently. This market shift may be influenced by concerns surrounding President-elect Trump’s administration picks, which could signal a tougher stance toward China.

In contrast, XPeng’s flying car subsidiary, Xpeng Aeroht, made significant strides at the 15th China International Aviation and Aerospace Exhibition, securing a notable number of pre-orders, reported CnEV Post. The company’s modular flying car, named the Land Aircraft Carrier, attracted pre-orders for 2,008 units at the event.

According to Benzinga Pro, XPEV stock has lost over 15% in the past year. Investors can gain exposure to the stock via SPDR S&P Kensho Smart Mobility ETF HAIL.

Earlier this month, XPeng’s Chairman, He Xiaopeng, unveiled further details about the Land Aircraft Carrier, including its design, functionality, and projected sales timeline. This flying car consists of two parts: a ground module and an air module. The ground module houses the aerial component, which can be detached for air travel. The two components are designed to automatically connect and separate.

Related: XPeng Flying Car Can Be Mastered In 3 Hours, Says Company Chairman

The air module, designed to accommodate two passengers, offers a solution to the challenge of landing space by folding compactly into the ground module trunk when not in use. Xpeng Aeroht plans to begin pre-sales for the modular flying car by the end of 2024, with mass production and deliveries set for 2026, CnEV Post added. The car is expected to be priced at no more than 2 million yuan ($277,390), according to founder and president Zhao Deli.

The development signals a significant step forward in XPeng’s ambitious plans for the future of transportation, positioning itself at the forefront of the emerging flying car market.

Price Action: XPEV shares are trading lower by 3.18% to $13.24 at last check Wednesday.

Photo via Shutterstock

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