Why XPeng Stock Was Flying Higher on Monday
Shares of XPeng (NYSE: XPEV) were gaining altitude on Monday, surging as much as 12.2%, though they ended the trading day up 11.5%.
The Chinese electric vehicle company plans to roll out a flying car that is also roadworthy, but it also made a few down-to-earth announcements.
HT Aero, an affiliate backed by XPeng and its founder He Xiaopeng, showcased a flying car at XPeng's annual Tech Day event on Sunday. While the car is not yet available to consumers, the company said it has plans to mass-produce the car and make it available to customers by 2024. The price is currently expected to be 1 million Chinese yuan (roughly $157,000).
Source Fool.com