Why XPeng (XPEV) Shares Are Falling

XPeng Inc – ADR XPEV shares are trading lower by 9.6% to $10.64 going into the close of Tuesday’s session. Shares of Chinese EV stocks are trading lower amid China weakness following recent media reports linking Baidu’s large language model to key military research in China. The EV space may also be down in reaction to recent Tesla Inc price cuts in China.

What Happened With Tesla Price Cuts?

Tesla has reduced prices on its entry-level Model 3 rear-wheel drive in China by 6%, now priced at 245,900 yuan, and the long-range version at 285,900 yuan.

Additionally, prices for selected versions of the Model Y SUV were cut by up to 2.8%, with the rear-wheel drive version now at 258,900 yuan and the long-range version at 299,900 yuan. The Performance edition of the Model Y maintains its price at 363,900 yuan…Read More

According to data from Benzinga Pro, XPEV has a 52-week high of $23.62 and a 52-week low of $7.50.