Xpeng shares surge as the Chinese EV maker teases brand-new SUV

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Xpeng shares spike as the Chinese EV maker teases new SUV

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Xpeng prepares to introduce a brand-new sports energy lorry under its “G” line of vehicles on November19 The business teased a picture of the vehicle’s shape.

Xpeng Inc.

GUANGZHOU, China– Chinese electrical carmaker Xpeng teased a brand-new sports energy lorry on Friday, with the launch arranged for next week.

The vehicle is most likely to be the follower to Xpeng’s present SUV the G3 and G3i. It will be gone for the Guangzhou car program onNov 19.

Xpeng shares were up over 10% in afternoon sell Hong Kong.

The brand-new vehicle will include more competitors to China’s currently crowded electrical lorry market.

Xpeng likewise presently offers 2 sedans– its flagship P7 and the P5.

In October, Xpeng provided 10,138 vehicles, of which 3,657 systems were its G3 and G3i SUV, reaching a month-to-month record given that the lorry’s launch in December 2018.

The business stated its cumulative shipments have actually surpassed 100,000 since completion of October.

Xpeng deals with competitors from competing start-ups Li Auto and Nio, both of which have electrical SUVs on the marketplace, in addition to Tesla’s Model X.