Why Xpeng Stock Is Moving Today

Xpeng Inc - ADR XPEV shares are trading higher by 6.35% at $34.19 Tuesday afternoon after the company reported a 483% year-over-year increase in May vehicle deliveries. On a month-over-month basis, total deliveries for Xpeng rose 10.5%.

See Also: Nio Vs. XPeng: How Chinese EV Duo's May Deliveries Stack Up

XPeng Inc is a Smart Electric Vehicle company designing, developing, manufacturing, and marketing smart electric vehicles in China.

The company manufactures environmentally friendly vehicles, namely an SUV (the G3) and a four-door sports sedan (the P7). It targets the mid-to high-end segment in China's passenger vehicle market.