Why XPeng's Stock Is Trading Higher Today

XPeng Inc XPEV is trading higher Monday morning after the company announced its delivery numbers for July. 

XPeng reported deliveries of 8,040 smart EVs, representing a 22% increase month over month and a 228% increase year over year. XPeng delivered 6,054 P7s, the company’s sports smart sedan, and 1,986 G3s, its smart compact SUV. 

The company said that its delivery numbers show the rising popularity of its vehicles among China’s tech-savvy consumers.

XPeng further expanded its product portfolio in July by launching its G3i vehicle. The company expects deliveries of the G3i to begin in September.

Price Action: XPeng has traded as high as $74.49 and as low as $17.11 over a 52-week period.

At last check Monday, the stock was up 4.79% at $42.47.