What's Going On With XPeng Shares Monday?

XPeng, Inc. XPEV stock is moving higher on Monday after the company’s affiliate, XPENG AEROHT, announced it started constructing a flying car manufacturing facility in Guangzhou, China.

The Details: The facility will be constructed by the China Construction Fourth Engineering Bureau and is projected to span 180,000 square meters. The manufacturing facility will include four key facilities: Composites, Joint, Painting, and Assembly along with additional supporting infrastructure.

The plant will be dedicated to producing the air module for the modular flying car known as the Land Aircraft Carrier. This vehicle consists of two components: a ground module that includes the aerial unit for ground transportation and an air module that can separate and reattach automatically.

Founder Zhao Deli stated that the company is committed to developing core technologies in-house and manufacturing key components on-site as well to ensure rigorous quality control and cost efficiency. XPENG AEROHT will implement an extensive traceability system that guarantees adherence to aviation safety standards.

Furthermore, the plant will incorporate solar power generation throughout its facilities, use energy-efficient equipment in high-energy areas, and deploy a digital energy management system for real-time monitoring, thereby reducing its carbon footprint.

"This establishment of the world's first mass production facility for flying cars is a milestone not only for XPENG AEROHT but also for the Guangzhou Development District's advancement in the low-altitude economy sector", said Shao Jingbo, Deputy Director of the Guangzhou Development District Administrative Committee.

"We look forward to collaborating with XPENG AEROHT to drive the flying car industry forward, reaching new heights and expanding the industry's impact on national economic growth."

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XPEV Price Action: At the time of publication, XPeng shares are trading 11.6% higher at $12.43, according to data from Benzinga Pro.

Image: Image by Robert Way via Shutterstock