XPeng (NYSE:XPEV), a Chinese electric vehicle (EV) startup, is currently seeing the price of its stock jump on Thursday.
Here’s what potential investors need to know about XPeng stock.
- The company is focused on the creation of EVs for middle-class consumers looking for smart vehicles.
- Its headquarters is located in Guangzhou, China and it has offices in Beijing, Shanghai, Silicon Valley, and San Diego.
- The company is developing its own autonomous driving systems for its vehicles.
- To go along with this, the company creates its own operating systems for use in the EVs.
- It’s also working on its own in-house vehicle components, such as powertrains and other parts.
- The company’s current offerings include the G3 and P7 EVs.
- Recent delivery data for October saw a major jump in demand for its vehicles.
- That includes 3,040 deliveries for the month, which is a 229% increase from the same time last year.
- Delivery performance in September was also up 31% to 3,478 EVs.
- The company is still fairly new to the public market having only held an initial public offering (IPO) in late August.
- This saw it offering 99,733,334 American Depositary Shares (ADS) in the IPO for $15 each.
- Each of these ADSs represents two Class A shares of the company’s stock.
XPEV stock was up 14% Thursday morning and is up 82.7% as of Wednesday’s close from its IPO price.
As of this writing, William White did not hold a position in any of the aforementioned securities.