What's Going On With XPeng Shares

XPeng Inc - ADR XPEV shares are trading higher by 3.76% to $12.00 Thursday afternoon. Shares of Chinese companies at large are trading higher Thursday after Chinese regulators reportedly approved a capital raise for Ant Group. Chinese stocks have also been volatility following the recent easing of COVID restrictions.

What's Happening?

The China Banking and Insurance Regulatory Commission division approved the company’s plan to raise its capital to 18.5 billion yuan, reported Bloomberg, citing a notice dated Dec. 30.

Following the deal, Ant, which contributed 5.25 billion yuan, will control half of its shares while a unit owned by the city of Hangzhou will hold 10%, the report said...Read More

See Also: What's Going On With Tesla Stock Today

Founded in 2015, XPeng is a leading Chinese smart electric vehicle company that designs, develops, manufactures and markets EVs in China.

According to data from Benzinga Pro, XPEV has a 52-week high of $49.72 and a 52-week low of $6.18.