XPeng Inc. (XPEV) shares plummeted 7.29% on Tuesday, caught in a broader selloff of Chinese stocks amid lingering concerns over the nation's economic growth prospects and disappointing trade data.

The electric vehicle maker's stock was among the biggest decliners, as Chinese American Depositary Receipts (ADRs) and exchange-traded funds (ETFs) tumbled overnight. The retreat followed a sharp rally in the previous session, fueled by expectations of looser monetary policy to support China's economic growth. However, lingering concerns over the slowdown in China's economy appeared to weigh on investor sentiment, leading to profit-taking.

China's latest trade data further exacerbated concerns, highlighting the scale of the challenge to get the world's second-largest economy back on track. Imports unexpectedly fell 3.9% in November from a year ago, the worst drop in 14 months, while exports rose a slower-than-expected 6.7%. The disappointing trade figures raised doubts about Beijing's efforts to revive the economy, sparking fears of potential U.S. tariffs on China that could further hurt exports.