What's Going On With XPeng Shares Premarket Thursday?

XPeng Inc. XPEV shares are trading higher premarket Thursday. The company disclosed that XPENG Motors will showcase its latest technologies and solutions at the Paris Motor Show 2024 in October.

The company plans to unveil its latest innovations, including the Tianji XOS 5.4 smart in-car operating system, designed for the European market.

This system highlights XPENG's vision for adaptive, AI-driven driving experiences in Europe.

The company will also showcase its next-generation smart cockpit with advanced personalization options and frequent OTA updates.

Brian Gu, Vice Chairman and President at XPENG, said, “The European automotive market is undergoing a transformation from electrification to smartification. At the Paris Motor Show, we are not only showcasing highlights from our vehicle portfolio, but also new solutions that we will be integrating in our car models.”

XPENG said it looks forward to further expanding its European footprint with cutting-edge technology and AI-powered solutions.

This month, the company reportedly asked suppliers to ramp up parts capacity as the M03, the first model in its Mona lineup, gains popularity.

According to Benzinga Pro, XPEV stock has lost around 50% in the past year. Investors can gain exposure to the stock via SPDR S&P Kensho Smart Mobility ETF HAIL and Invesco WilderHill Clean Energy ETF PBW.

Price Action: XPEV shares are up 6.94% at $9.24 premarket at the last check Thursday.

Photo via Shutterstock

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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.