## XPeng’s P7+ Electric Sedan Hits the Road, Fueling Stock Gains
Chinese electric vehicle maker XPeng Inc. (XPEV) is riding a wave of momentum as it officially commenced nationwide deliveries of its highly anticipated XPENG P7+ sedan on November 11th. The news has sent the company’s NYSE-listed shares on an upward trajectory, reflecting investor confidence in the model’s potential for success.
The P7+ sedan made its debut on November 7th with a starting price of approximately 186,800 yuan. Initial excitement surrounding the vehicle was palpable, with XPeng founder Xiaopeng He reporting that firm orders reached an impressive 31,528 by the end of the launch day. The company took to social media, announcing the delivery commencement with a tweet stating, “We’ve officially begun nationwide deliveries of the XPENG P7+! Each vehicle undergoes thorough inspections to ensure top quality before reaching its new owner. Thank you for your continued support! #CelebrateWithXPENG.”
The P7+ offers consumers three distinct variants, with the top-of-the-line, limited-edition version priced at 218,800 yuan ($30,234). This strategic pricing strategy positions the P7+ competitively against Tesla Inc.’s popular Model 3 sedan, which starts at 231,900 yuan in China, with the higher-end variant priced at 335,900 yuan.
The positive market reception of the P7+ comes amidst a period of strong sales for XPeng. In October, the company delivered 23,917 vehicles, marking a 20% year-on-year growth. The XPeng Mona M03 hatchback coupe alone contributed significantly to this success, accounting for over 10,000 deliveries during the month. This impressive performance has further solidified XPeng’s position as a major player in the burgeoning Chinese electric vehicle market.
Over the ten months ending in October, XPeng’s total EV deliveries reached 122,478, representing a robust 21% increase compared to the same period last year. These figures underscore the company’s sustained growth trajectory and ability to capture a significant market share.
The positive market sentiment surrounding XPeng’s latest offerings is reflected in its stock performance. As of Monday’s close, Xpeng’s NYSE-listed shares reached $15.3, marking a remarkable surge of nearly 21% over the past five days. This upward trend has also translated into a year-to-date gain of nearly 9%. These figures suggest investor confidence in XPeng’s future prospects, particularly given the strong initial response to the P7+ and the company’s overall growth trajectory.
As XPeng continues to expand its presence in the Chinese EV market, the company’s commitment to innovation and quality, combined with its competitive pricing strategy, positions it for continued success. The P7+’s strong launch and the subsequent stock gains are a testament to the company’s ability to meet consumer demand for stylish, advanced, and affordable electric vehicles.
