XPeng Inc. (XPEV) shares surged 5.31% in Monday's pre-market trading session, likely driven by the company's impressive November delivery figures. According to the electric vehicle (EV) maker, it delivered 30,895 smart EVs in November, representing a significant 54% year-over-year increase and a 29% jump from the previous month.

The strong delivery numbers suggest that XPeng continues to gain traction in the highly competitive Chinese EV market. The company's Mona M03 sedan, a direct competitor to the Tesla Model 3, appears to be a hit among consumers, with deliveries exceeding 10,000 units for the third consecutive month.

XPeng's robust performance in November comes amid increased competition and discounting from other EV makers in China, as they strive to meet their annual sales targets. However, the company's ability to sustain strong delivery growth, despite the intense competition, highlights the appeal of its product lineup and potential for further market share gains.