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What's Going On With XPeng Shares Today?

Shivani Kumaresan
April 01, 2024

Chinese automaker XPeng Inc (NYSE:XPEV) shares are trading higher on Monday’s premarket session.

In March 2024, XPeng delivered 9,026 Smart EVs, representing a 99% increase over the prior month and a 29% increase year-over-year. 

The XPENG X9 maintained its position as the top-selling all-electric MPV in China, with 3,946 units delivered in March and nearly 8,000 units delivered since its launch.

Altogether, XPeng delivered 21,821 Smart EVs in the first quarter of 2024, a 20% increase from last year.

The monthly active user penetration rate of XNGP in urban driving scenarios reached 82%. 

RelatedTesla’s Chinese Rival Ventures Into Volkswagen’s Home Turf With Car Sales Launch In May

In March, the company announced strategic partnerships with car dealer groups in Thailand, Singapore, and Malaysia for the launch of its right-hand drive G6 model.

Xpeng also officially entered the German market by launching two Smart EV models, the launch edition of the G9 SUV and the P7 sedan. 

The initiatives are part of XPeng’s larger plan to further penetrate global markets, including France, Italy, and the U.K.

Price Action: XPEV shares are trading higher by 2.99% at $7.91 in premarket on the last check Monday.

Image by Robert Way via Shutterstock

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