XPEV Stock Alert: What to Know as Xpeng Reports February Vehicle Deliveries

  • Xpeng (XPEV) stock is rallying Wednesday on electric vehicle (EV) delivery data.
  • The company delivered 6,010 Smart EVs in February 2023.
  • That represents a 15% increase compared to January 2023.
The Logo of Chinese electric vehicle manufacturer Xpeng (Guangzhou Xiaopeng Motors, also known as XMotors.ai) on tablet. XPEV Stock

Source: Koshiro K / Shutterstock

Xpeng (NYSE:XPEV) stock is worth checking on Wednesday after the electric vehicle (EV) company released delivery data for February.

During February 2023, Xpeng delivered a total of 6,010 Smart EVs. That’s positive news for holders of XPEV stock as it represents a 15% increase in deliveries when compared to January 2023 delivery data.

Xpeng notes that this increase in deliveries comes as it seeks to expand its business domestically and internationally. The EV company opened second retail locations in both Denmark and the Netherlands in February.

Finally, Xpeng is introducing more areas with City NGP advanced driver assistance function support, which it hopes will help increase orders. That includes support for the feature in several Chinese cities, like Shenzhen and Shanghai.

China Helps Rally XPEV Stock

Outside of the delivery news, China also reported strong economic data today. This has several companies in the country seeing shares gain on Wednesday. XPEV stock is among these so far, as is rival Chinese EV company Nio (NYSE:NIO).

As far as stock movement goes today, shares of XPEV have seen some 1 million units change hands as of this writing. For comparison, the company’s daily average trading volume is well above that at almost 22 million shares.

XPEV stock is up 2.6% in pre-market trading on Wednesday but down 12.4% year-to-date (YTD).

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On the date of publication, William White did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

Article printed from InvestorPlace Media, https://investorplace.com/2023/03/xpev-stock-alert-what-to-know-as-xpeng-reports-february-vehicle-deliveries/.

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