XPeng Inc.'s stock surged 5.06% in Sunday's trading session, reflecting robust demand for electric vehicles (EVs) in China and record monthly deliveries for the company and its rivals.
According to reports, XPeng, along with NIO and Li Auto, set new monthly EV delivery records in November. The strong demand is expected to continue into December, with all three companies projecting record deliveries for the month.
While the soaring EV demand in China is a positive sign for the industry, analysts have raised concerns about potential pricing pressure due to overcapacity in the market. However, the strong sales figures and anticipated growth in deliveries have buoyed investor sentiment for XPeng and its peers.
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