What's Going On With XPeng Stock Tuesday?

XPeng Inc. XPEV shares are trading slightly higher in the morning session on Tuesday.

Ahead of its scheduled June debut, the first model of XPeng’s sub-brand, codenamed Mona, has been reportedly unveiled in an undisguised spy photo for the first time, CnEV Post reported.

The image circulating in many WeChat groups today shows what is suspected to be Mona’s first models seen on the road and without any camouflage.

The image is believed to be the first models of Mona seen on the road, devoid of camouflage, the report added. 

The image is widely shared in various WeChat groups today, CnEV Post added.

Though blurry, the image vaguely reveals the Chinese name of the new brand in two characters, alongside the inclusion of the “03” model. Additionally, the taillight design aligns with the rear details of the first model XPeng unveiled for the Mona brand on April 25, coinciding with the start of the Beijing auto show, CnEV Post noted.

XPeng announced the acquisition of Didi Global’s EV business on August 28, 2023, revealing plans to introduce a new brand, codenamed Mona, in 2024.

During an earnings call on May 21, XPeng management disclosed that the debut of Mona’s inaugural model is slated for June, with deliveries expected to commence in the third quarter. XPeng anticipates Mona to emerge as a standout product in the A-class all-electric market, CnEV Post added.

Price Action: XPEV shares are trading higher by 0.79% to $8.265 at last check Tuesday.

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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Photo by Koshiro K on Shutterstock