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Xpeng shares spike as the Chinese EV maker teases new SUV


Xpeng intends to introduce a brand new sport utility vehicle in its G-line of cars. It will be launched on November 19. A silhouette of the vehicle was shown by the company.

Xpeng Inc.

GUANGZHOU, China — Chinese electric carmaker XpengOn Friday, the teaser for a brand new utility vehicle appeared. It is expected to be launched next week.

This car will likely be the successor of Xpeng’s SUV G3 and G3i. The car will debut at Guangzhou’s auto show in November 19.

XpengIn afternoon trading in Hong Kong, shares rose more than 10%

China’s electric vehicle market already has a lot of competition. The new car will be a further challenge.

Xpeng also currently sells two sedans — its flagship P7 and the P5.

In October, Xpeng delivered 10,138 carsThe vehicle has sold 3,657 units, including its G3 SUV and G3i SUVs, setting a new monthly record for sales since December 2018, when it was launched.

According to the company, its total deliveries had surpassed 100,000 by October’s end.

Xpeng will be competing with rival start-ups Li Auto (and Nio) who both have electric SUVs and are on the same market as Tesla’s Model X.