EPeng stock jumps after almost six-fold increase in January deliveries

EPeng stock jumps after almost six-fold increase in January deliveries

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Shares of XPeng Inc. XPEV,
-3.95%
rose 4.6% in pre-market negotiations on Monday after the China-based electric vehicle maker reported an almost six-fold increase in January deliveries. The company said overnight that it delivered 6,015 vehicles in January, an increase of 470% over the same period last year, and to mark the third consecutive month of record deliveries. Deliveries included 3,710 P7 smart sports sedans and 2,305 smart G3 compact SUVs. The XPeng report comes as the China-based EV manufacturer Nio Inc. NIO,
-2.35%
reported a 352% increase in January deliveries to 7,225 vehicles. Xpeng’s shares shot up 148.6% in the last three months through Friday, while Nio’s shares rose 86.4% and S&P 500 SPX,
-1.93%
gained 13.6%.

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