Why Shares of XPeng Are Surging Today

Shares of Chinese electric-vehicle (EV) maker XPeng (NYSE: XPEV) are up 15% as of 10:30 a.m. EST.

The company released its first earnings report as a public company today. For its fiscal third quarter, vehicle delivery volumes soared over the previous year as well as the second-quarter period.

XPeng reported vehicle deliveries of 8,578, a jump of 266% over the year-ago period, and 166% over the second quarter. The company said deliveries of its P7 sedan, which only began shipping en masse in late June 2020, numbered 6,210, compared to just 325 in the second quarter of 2020. 

Continue reading

Source Fool.com