What's Going On With XPeng Stock Today?

XPeng Inc. XPEV shares are trading lower on Wednesday.

The Chinese rival of EV giant Tesla, Inc. TSLA said that 9,393 vehicles were delivered in April, a 33% increase year-on-year. The metric inched up 4% over the prior month.  

In April, the monthly active user penetration rate of XNGP in urban driving scenarios reached 82%.

In the press release, XPeng highlighted its network-based planning and control model, XPlanner, which enhances the human-like capabilities of its XNGP ADAS. 

The XPENG X9 achieved monthly deliveries of 1,959 units in April, with cumulative deliveries nearing 10,000 units since its launch, maintaining its position as the top-selling all-electric MPV in China. 

Year-to-date, XPENG has delivered 31,214 Smart EVs, a 23% increase year-on-year.

Additionally, XPENG has unveiled a sneak peek of the AI Valet Driver, which harnesses advanced AI for exceptional visual perception and control. This feature is capable of memorizing and customizing up to 10 driving routes, each spanning 100km, ensuring seamless nationwide coverage even when XNGP is unavailable.

In addition, XPENG has introduced its latest brand, MONA (Made of New AI), which is set to launch in June 2024.

Price Action: XPEV shares are trading lower by 0.12% to $8.12 premarket at last check Wednesday. 

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