What's Going On With XPeng Shares Today?
Portfolio Pulse from Nabaparna Bhattacharya
XPeng Inc. (NYSE:XPEV) shares are trading higher due to the unveiling of its modular flying car, the Land Aircraft Carrier, by its flying car division, Xpeng Aeroht. The company plans mass production and deliveries in 2026, with a price of up to $280,000. The first public manned flight is scheduled for November. XPeng's Guangzhou factory aims to produce over 10,000 units annually. XPeng delivered 14,036 Smart EVs in August, a 3% increase year-over-year.
September 03, 2024 | 4:52 pm
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XPeng shares are up 6.21% following the unveiling of its modular flying car, the Land Aircraft Carrier, with plans for mass production in 2026. The company also reported a 3% YoY increase in August EV deliveries.
The unveiling of the modular flying car and the positive delivery numbers for August are likely driving the stock price up. The flying car represents a significant innovation and potential future revenue stream, while the increase in EV deliveries indicates strong current performance.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100