XPeng (XPEV) Stock Rises as EV Maker Expands Footprint in Europe and Asia
Hong Kong-listed shares of Chinese electric vehicle Maker XPeng climbed 3% following its announcement of expansion into new European and Asian markets. The move signals XPeng's strategic pivot to offset intensifying domestic competition by targeting international growth.
U.S.-listed XPEV shares surged 6.5% on Monday before dipping 1.2% in pre-market Tuesday trading. The stock has delivered a remarkable 95% year-to-date rally, reflecting investor Optimism about XPeng's global ambitions.
The automaker recently launched G6 SUV, G9 SUV and P7+ models in Lithuania, Estonia, Latvia and Cambodia, extending its presence to 49 countries. CEO He Xiaopeng revealed plans to derive 50% of total sales from overseas markets within a decade, with European expansion of its Mona brand slated for early 2025.
