Xpeng Plans To Expand In UK, Israel, Europe In 2024: Report
Portfolio Pulse from Nabaparna Bhattacharya
Chinese electric vehicle firm XPeng Inc plans to expand its footprint in the European markets, including Germany, the U.K., and France by 2024. The company will distribute its G9 and P7 EVs in Israel in early 2024 and present its G6 as its first right-hand drive model. XPeng's G6 August deliveries stood at 7,068 units, leading to cumulative G6 deliveries of over 11,000 units. XPeng reported monthly deliveries of 13,690 smart EVs in August, up 24% over the prior month and 43% Y/Y.
September 04, 2023 | 2:11 pm
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POSITIVE IMPACT
XPeng's expansion plans in Europe and Israel, along with increased deliveries, could potentially boost its stock price.
XPeng's expansion into new markets indicates growth and potential for increased sales, which could positively impact the company's stock price. The reported increase in deliveries also suggests strong demand for XPeng's products, which is a positive sign for investors.
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