Chinese EV Maker Xpeng Sees Its Shares Rise After Posting Delivery Results for October 2021

Chinese electric vehicle maker Xpeng Inc. saw its shares rise after it released its delivery results for the month of October. The company had an impressive delivery result which caused a rise in its shares during trading hours today.

The EV company delivered a total of 10,138 smart EVs; this is a 233 percent increase YoY. Irrespective of supply chain challenges and the problems that affected production due to the global chip shortage, the company’s delivery for the month of October beat the 10,000 deliveries the company recorded in the previous month.

Xpeng, headquartered in Guangzhou, China, is one of the biggest electric makers in China. The company designs, develop, produces and sells smart electric vehicles. The company targets mostly middle-class Chinese consumers who are tech-savvy. The company’s aim is to drive smart EV transformation in China and to be one of the companies to launch the future of mobility. The company develops in-house full-stack autonomous driving technology as well as in-car intelligent operating system. It also develops core vehicle systems; architecture, powertrain, etc. The EV company has main offices in Shanghai, San Diego, Amsterdam ad Beijing.

Consisting of its deliveries for October are 6,044 P7 smart sport sedans; an increase of 187 percent YoY. The company also delivered 3,657 G3 and G3i smart SUVs. The P5 smart sedan which was launched in September had quite a strong market appeal and sold 437 units.

The total number of vehicles that have been delivered year-to-date as of October 31st, 2021, is 66,542. While this number consists of 45, 271 P7 deliveries, the figure represents a 289 percent increase YoY. The company’s cumulative deliveries surpassed 100,000 as of the end of October 2021.

As part of its efforts to gain customers’ trust and to meet the demands of customers, the company is increasing its supercharging facilities. It has a supercharging network that spans 439 stations across 121 cities in China, as of September 30th, 2021. Currently, Xpeng offers free supercharging services to customers at 1,648 stations in 221 Chinese cities.

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