China’s Xpeng Motors tumbled 14.6% to close at HK$70.6 in Hong Kong on Wednesday, the biggest one-day drop since October, 2022, amid market speculation that its head of autonomous driving is leaving.
Wu Xinzhou, Xpeng’s vice president of autonomous driving, is leaving the company and will join US chip giant Nvidia, according to online speculation.
Xpeng Motors delivered 11,008 vehicles in July, up 28% from the previous month, and more than 3,900 units of the highly anticipated G6 were delivered last month, according to data it released on Tuesday.
Wu joined Xpeng in March 2019 and has led the company to become one of China’s most recognizable names in self-driving technology in just a few years. He has been responsible for the overall route planning and team management of Xpeng’s autonomous driving unit and he reports to Xpeng’s chairman and CEO He Xiaopeng.
