Why Shares of XPeng Are Surging Today - Motley Fool

 

Why Shares of XPeng Are Surging Today - Motley Fool

What happened

Shares of Chinese electric-vehicle (EV) maker XPeng (NYSE:XPEV) are up 15% as of 10:30 antemeridian EST.

The set released its original net income report as a open company today. For its business tierce quarter, transport retrieval volumes soared over the former year as vessel as the second-quarter period.

So what 

XPeng reported transport deliveries of 8,578, a seem of 266% over the year-ago period, and 166% over the attendant quarter. The set aforesaid deliveries of its P7 sedan, which single began business enterprise en masse shot in former Gregorian calendar month 2020, numbered 6,210, compared to sensible 325 in the attendant quarter of 2020

Image source: Getty Images.

XPeng offers III versions of the P7, protrusive at a retail ascertain of just more than or less $35,000, with its agiotage modeling merchandising for a less over $39,000. By comparison, valuation on XPeng's G3 summary SUV ranges from $22,000 to just more than or less $25,000.

Now what

The set aforesaid 98% of the P7s delivered in the quarter reenforcement its XPILOT high-tech driver assist systems. The Modern 3.0 version includes independent dynamic for highways and hands-free "memory" parking. 

Revenue for the quarter was $293.1 million, an addition of more than than 342% over the previous-year period. It gave fourth-quarter revenue steering that would represent a year-over-year addition of or so 244%, with deliveries of just more than or less 10,000 vehicles.

XPeng as well aforesaid that as of Sept. 30, 2020, it has 135 of its proprietary super charging station crosswise 50 cities, and its sale and employment network covers 58 cities.