Why XPeng Stock Is Trading Higher Today

XPeng Inc XPEV shares are moving higher Monday after the company said it received more than 25,000 pre-sale orders in China for its G6 SUV in just three days.

What Happened: XPeng's new G6 SUV, which was unveiled at Auto Shanghai in April and became available for pre-order at the end of last week, received more than 25,000 orders within 72 hours, the company said via tweet.

The G6 is the China-based EV company's fifth smart EV model and is the first production model based on XPeng's next-gen smart electric platform architecture, SEPA2.0. 

XPeng said last week that it expects the G6 to emerge as one of the most popular, bestselling models in China's NEV SUV market segment. The vehicle was listed for pre-order with prices starting at RMB 225,000 ($31,500).

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XPEV Price Action: XPeng shares were up 8.68% at $9.63 at the time of writing, according to Benzinga Pro.

Photo: courtesy of XPeng.