Xpeng delivers more than 10,000 cars in October, Hong Kong shares rise
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Xpeng Motors launched the P5 sedan during an event held in Guangzhou (China) on April 14, 2021. The P5 model is Xpeng’s third-production model. It features Lidar technology.
Arjun Kharpal | CNBC
GUANGZHOU, China — Xpeng According to the company, it has delivered over 10,000 cars during October. This sent Hong Kong’s shares higher on Monday.
The electric vehicle maker delivered 10,138 cars last month, down from 10,412 in September. Xpeng did still deliver more than 10,000 vehicles in September, a 233% jump year-on-year.
Afternoon trading saw Xpeng’s Hong Kong-listed shares up by 3%
Around the globe, automakers have struggled with shortages of semiconductors which has limited some companies’ ability to ship cars. Xpeng may be able to weather this storm. The company previously saidThe chip shortage’s impact on the economy is limited.
October’s deliveries saw 6,044 units shipped by Xpeng of its flagship sedan P7, an 187% increase over the previous year. Xpeng reported that it shipped 3,657 units its G3 sedan and G3i utility vehicle. This is a record monthly delivery since December 2018, when the vehicle was launched.
Xpeng said that 437 units were delivered. P5 sedanThe official launch of ‘, was in September.
As of October 31, the company had delivered more than 100,000 vehicles. It has shipped 66,542 vehicles in 2018, a 29% increase year over year.
Xpeng will be challenged by other start-ups such as Xpeng in China’s growing electric vehicle market. NioAnd Li AutoReinventors like Elon Musk and Warren Buffett, as well as BYD-backed Elon Musk Tesla However, there are also new competitors who want to enter the electric car market. XiaomiIt, the company most known for making smartphones, stated it plans to mass produce electric cars in the first half of 2024
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