What's Going On With XPeng Stock Today?

XPeng Inc. XPEV shares are trading higher on Thursday.

Shares of Chinese stocks are trading higher, following a report suggesting that China will issue up to $284 billion in sovereign debt as part of a stimulus.

The company has also introduced a new variant of its flagship SUV, the G9, aimed at consumers who prioritize power over advanced driving features, reported CnEV Post.

Today, the Chinese electric vehicle (EV) manufacturer launched the G9 650 Pro, starting at RMB 309,900 ($44,150).

However, the new variant eliminates the two LiDAR sensors found on the G9 650 Max, thus lacking support for the XNGP (Navigation Guided Pilot) full-scenario assisted driving feature, the report further noted.

Nonetheless, the new model does offer assisted driving on highways and includes features like ACC (adaptive cruise control) for regular roads.

Recently, XPeng has reportedly introduced a new version of its MPV (Multi-Purpose Vehicle), the X9, to broaden its customer base and boost sales.

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The Chinese electric vehicle manufacturer launched the X9 610 Max, starting at RMB 379,800 ($54,090)

In the first eight months of 2024, XPENG delivered 77,209 Smart EVs, a 17% increase from the same period last year.

Monthly deliveries of the X9 have consistently ranged between 1,000 and 2,000 over the past few months, with 1,450 units delivered in August, based on data gathered by CnEVPost.

Price Action: XPEV shares are trading higher by 12.6% to $11.75 at last check Thursday.

Photo by Koshiro K on Shutterstock

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