2 days ago
XPeng (XPEV) Extends Rally as First Hybrid Vehicle Launch Raises Sales Prospects
We recently published . XPeng Inc. (NYSE:XPEV) is one of the best-performing stocks on Monday.
XPeng Inc. rallied for a third consecutive day on Monday, adding 5.97 percent to close at $21.41 apiece, as investors turned optimistic about sales prospects over the looming launch of its first hybrid vehicle.
This followed the release of China's Ministry of Industry and Information Technology's catalog of expected vehicle launches, which included XPeng Inc.'s (NYSE:XPEV) hybrid version of the X9 variant, X9 EREV.
Shortly after the catalog release, the company's CEO, He Xiaopeng, confirmed that the new vehicle is scheduled to be launched in the fourth quarter of the year, and that it is a global model that was tested in 20 countries and 330 cities.
The X9 EREV is slightly longer than the all-electric X9, which is equipped with a 1.5-liter engine as an extender.
According to He, XPeng Inc. (NYSE:XPEV) was looking to make X9 EREV a reliable seven-seater family car.
In other news, XPeng Inc. (NYSE:XPEV) is set to announce the results of its second quarter earnings performance before market open next Tuesday, August 19.
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