XPeng stock rallies after June deliveries more than double from a year ago


The U.S.-listed shares of XPeng Inc. XPEV, -4.60% surged 2.1% in premarket trading Friday, after the China-based electric vehicle maker reported big jumps in June deliveries from a month ago and from last year. The company also said it expect to begin accepting pre-orders for its G9 sports utility vehicle in August, ahead of an official launch in September. For June, the company delivered 15,295 EVs, up 51% from May and up 133% from a year ago. The June deliveries consisted of 8,045 P7 sports sedans, 5,598 P5 sedans and 1,652 G3i and G3 compact sport utility vehicles. For the second quarter, XPeng delivered 34,422 EV, more than rival China-based EV makers NIO Inc. NIO, -1.66% and Li Auto Inc. LI, -1.59%. XPeng’s stock has plunged 36.9% year to date through Thursday, while the iShares MSCI China ETF MCHI, +0.04% has declined 11.1% and the S&P 500 SPX, +1.06% has shed 20.6%.

This article was originally published by Marketwatch.com. Read the original article here.

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