XPeng Inc.'s stock surged 5.15% on Tuesday's intraday trading session, driven by encouraging data on vehicle insurance registrations in China.
According to industry figures, XPeng saw a significant 27.03% week-over-week increase in insurance registrations for its electric vehicles (EVs) in the week ending January 19, reaching 9,400 units. This robust performance comes ahead of the upcoming Chinese New Year holiday, traditionally a slower period for auto sales.
The positive registration data signals resilient demand for XPeng's EVs, fueling investor optimism and propelling the company's stock higher. XPeng has been steadily ramping up production and deliveries, with its newly launched Mona M03 model delivering 15,904 units in December, contributing to a record fourth-quarter delivery of 91,507 vehicles.
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