Xpeng Inc. (NYSE: XPEV) surged over 4.36% in Friday’s premarket and recorded a 5.4% spike in its Hong Kong-listed shares. It's currently trading at $22.90 in pre-market, according to Benzinga Pro data.
European Expansion
The surge in share price comes as the company officially announced its entry into 5 European markets — Switzerland, Austria, Hungary, Slovenia and Croatia — after partnering with Magna International Inc. (NYSE: MGA) to build two EVs in Austria at one of Magna's manufacturing facilities. The production activities are expected to kick off in the third quarter of 2025.
Xpeng's Overseas Deliveries, P7+ Recall
The surge also follows Xpeng announcing its overseas delivery figures, which grew over 137% YoY from January to August 2025 as the Tesla Inc. (NASDAQ: TSLA) rival delivered 24,702 units in the international market.
Xpeng's YTD sales in 2025 up until August clock in at 271,615 vehicles, which constitutes an almost 252% YoY increase from the same period last year. Meanwhile, the company also issued a rare recall for its P7+ vehicle, citing a defect with its steering.
Xpeng's Tesla Model 3 Rival
The company also recently launched the P7 Sedan in the Chinese market, retailing for $30,000, which pits it against the Tesla Model 3. Xpeng had said that the company received over 10,000 orders for the P7 in seven minutes after the launch.
The P7 comes with two battery configurations: a 74.9 kWh LFP battery with a CLTC range of 436 miles and a 92.2 kWh ternary NMC battery option with a claimed CLTC range of approximately 510 miles.
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