Chinese electric vehicle maker Xpeng Motors opened up 3.5% on Thursday and extended gains to more than 6% to hit HK$58.7 at one point. The stock price has nearly doubled from a low of HK$30 on June 1. Its US-traded shares surged 5.87% to close at $14.8 per share, equivalent to HK$58.31.
Xpeng President Brian Hongdi Gu expected the company’s car delivery to surge in the second half of the year thanks to the launch of the SUV model “Xpeng G6”.
The monthly sales are expected to rise to 15,000 units in the third quarter, nearly doubling that in May and June, and increase further to more than 20,000 in the fourth quarter, he said.
Xpeng last week launched its G6 model with a starting price of 209,900 yuan and delivery will start in July.
