What's Going On With XPeng Stock Today?

XPeng Inc. XPEV shares are trading lower on Tuesday.

Shares of U.S.-listed Chinese stocks are trading lower after China’s September exports missed estimates. Concerns over the effectiveness of China’s latest stimulus measures have also rattled investors.

According to Benzinga Pro, XPEV stock has lost over 25% in the past year. Investors can gain exposure to the stock via Invesco WilderHill Clean Energy ETF PBW and Global X Autonomous & Electric Vehicles ETF DRIV.

The electric vehicle maker saw its stock decline alongside other Chinese companies, amid doubts that Beijing’s recent economic support package will significantly boost growth.

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Meanwhile, XPeng’s latest electric sedan, the P7+, is reportedly receiving positive early feedback, as evidenced by robust pre-order figures.

Within just 1 hour and 48 minutes of starting pre-sales, orders for the P7+ exceeded 30,000 units, reported CnEV Post, citing an announcement on Weibo.

Xpeng launched the model for European consumers in Paris, France. The company also announced that pre-sales for the model have commenced in China, with a starting price of RMB 209,800 ($29,600).

The pre-sale starting price of the P7+ is RMB 22,100, or 9.5% lower than the RMB 231,900 starting price of Tesla’s Model 3 in China, the report read.

However, Xpeng chairman and CEO He Xiaopeng stated that the model is designed to compete with vehicles in the RMB 300,000 price range, CnEV Post added.

The P7+ is a mid-to-large electric sedan measuring 5,056 mm in length, 1,937 mm in width, and 1,512 mm in height, with a 3,000 mm wheelbase, which makes it bigger than the Xpeng P7i sedan.

Price Action: XPEV shares are trading lower by 2.28% to $11.38 at last check Tuesday.

Photo via Shutterstock

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