What's Going On With Chinese EV Maker XPeng Stock Today?

Nabaparna Bhattacharya

May 15, 2024

XPeng Inc. (NYSE:XPEV) shares are trading higher in the premarket session on Wednesday.

The company is reportedly planning to utilize batteries from BYD Co., Ltd. (OTC:BYDDY) for its Mona sub-brand, mirroring the strategy adopted by NIO Inc. (NYSE:NIO) Onvo sub-brand, CnEV Post reported.

According to a report today from local media outlet 21jingji, which cited sources familiar with the matter, BYD is among the battery suppliers for the first model of Mona, which boasts a range exceeding 500 kilometers, the report added.

The report pointed out that this range is comparable to the 580 km range of the entry-level version of the Xpeng G6, which is priced at RMB179,900.

XPeng initially announced the acquisition of Didi Global’s electric vehicle (EV) business on August 28, 2023, revealing plans to introduce the new brand, codenamed Mona, in 2024. However, in a statement on May 1, coinciding with the announcement of April deliveries, the company mentioned a debut for the new brand Mona in June, signaling a slight delay from its earlier schedule, CnEV Post noted.

The first model under Mona is currently under construction at XPeng’s facility in Zhaoqing, Guangdong province. According to the report, pilot cars have already been produced and are poised to enter the PT2 phase soon.

XPeng’s Zhaoqing plant, boasting an annual capacity of 200,000 units, underwent a production line upgrade in late January to accommodate the launch of the new model.

In contrast to Nio’s approach of appointing Ai Tiecheng as president of Onvo, XPeng opted for an internal executive, Jiang Wen, to lead the Mona program, as per 21jingji’s report, CnEV Post noted.

Mona’s inaugural vehicle will be an A-class compact electric sedan, positioned in the price range of RMB100,000 to RMB 150,000. It will incorporate XPeng’s Advanced Driver Assistance System (ADAS) and is anticipated to be revealed in June, with sales and deliveries slated for the third quarter, the report added.

Read Next: Boston Beer Company Gets A Spicy Buy Upgrade From Analyst Amid Other Beer Brands – Read Why

Price Action: XPEV shares are trading higher by 1.09% to $8.37 premarket at last check Wednesday.

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Photo via Wikimedia Commons

Recommended

Trump Signs Law to Launch Dollar 2.0 - Ad

Elon's Optimus to Mint New "Musk Millionaires" as Soon as Jan 26? - Ad

If You Hold Any Dollars in Your Bank Account, Read This... - Ad

Popular

Marjorie Taylor Greene Buys Blue Chip Stock Near 52-Week Low

Marjorie Taylor Greene is known for buying multiple stocks at a time, based on recent disclosures. A new filing shows one stock bought in November.

Marjorie Taylor Greene Goes Bargain Shopping, Discloses Buying These Two Stocks At 52-Week Lows

Congresswoman Marjorie Taylor Greene disclosed some new stocks recently. Unlike past trades in 2024 and 2025, the latest disclosure is rather unique.

Global Demand for Defense Metals Is Surging 7X

Global Demand for Defense Metals Is Surging 7X - Ad

Lithium, uranium and titanium are at the center of a global race. Nations are scrambling to secure them for fighter jets, EVs, and reactors. One N. American project could help fill the West's critical-minerals gap.

These are the 37 donors helping pay for Trump's $300 million White House ballroom

WASHINGTON (AP) — President Donald Trump says his $300 million White House ballroom will be paid for “100% by me and some friends of mine.”

Trump EPA moves to abandon rule that sets tough standards for deadly soot pollution

WASHINGTON (AP) — The Trump administration is seeking to abandon a rule that sets tough standards for deadly , arguing that the Biden administration did not have authority to set the tighter standard on pollution from tailpipes, smokestacks and other industrial sources.

The Tesla Shock Nobody Sees Coming

The Tesla Shock Nobody Sees Coming - Ad

While headlines scream "Tesla is doomed"...Jeff Brown has uncovered a revolutionary AI breakthrough buried inside Tesla's labs. One that is helping AI escape from our computer screens and manifest itself here in the real world all while creating a 25,000% growth market explosion starting as early as January 29.

Schwab: Half Of US Investors May Ditch Other Assets For ETFs — 4 Funds To Watch

Nearly half of ETF investors could go all-ETF within five years, Schwab says. Here's how they're building portfolios with funds like ITOT, BND, and XLK.

Iran confirms seizure of oil tanker in the Strait of Hormuz

TEHRAN, Iran (AP) — Iran on Saturday confirmed as it traveled through the narrow Strait of Hormuz over violations including carrying an illegal consignment, state media reported.

The U.S. Wants Metal Independence - And This Nevada Opportunity Fits the Moment

The U.S. Wants Metal Independence - And This Nevada Opportunity Fits the Moment - Ad

Washington's push for domestic copper, silver, gold, and tungsten is reshaping the resource landscape. Their neighbor's multi-metal hits, supported by $6M in federal funding and a 300%+ YTD surge, confirmed this Nevada corridor is the right kind of ground. Now another early-stage explorer has stepped into the same trend as interest accelerates.

Here's Why Bitcoin's 'Run' In 2025 Is Nothing Like That Of 2021

Bitcoin's (CRYPTO: BTC) historical top, bottom, and overall cycle structure

How To Earn $500 A Month From HP Stock Ahead Of Q4 Earnings

HP offers an annual dividend yield of 4.75% ($1.16 a year). How can investors exploit its dividend yield to pocket a regular $500 monthly?

Buy This Gold Stock Before the New Year

Buy This Gold Stock Before the New Year - Ad

America is about to see a massive shift in how regular people buy and store gold. Next year, the world's largest gold buyer is expected to launch a new way for everyday Americans to invest in gold with a simple tap on their phone - and it could go live in 2026. When it does, a tiny gold stock trading around $1.60 could explode.

Warren Buffett Initiates Alphabet Position, Trims Apple In Q3 — Here Are Berkshire's Moves

Warren Buffett's Berkshire Hathaway took a new stake in a member of the Magnificent Seven, while lowering its stake in Apple in the third quarter.

Small Caps, Pharma Surge As AI Rotation Broadens, Nvidia Tumbles: What's Moving Markets Tuesday?

Wall Street's sector rotation entered full throttle Tuesday, with investors pouring into previously overlooked corners of the market amid an AI-driven shift that now favors undervalued small caps and defensive names such as health care.

The Market Just Crossed a Dangerous Line

The Market Just Crossed a Dangerous Line - Ad

The man who predicted the 2008 crash and 2020 says today's soaring markets are NOT a bubble - they're something far stranger and more dangerous. He says it's about to change everything you know about money.

Cathie Wood Bets Big On These Stocks As Bitcoin, Ethereum Crash —Dumps Instagram Rival

On Tuesday, Cathie Wood-led Ark Invest made significant trades, notably increasing its holdings in Bullish (NYSE:BLSH), Coinbase Glo

AT&T reached a $177M data breach settlement. What consumers should know about claiming their money

NEW YORK (AP) — AT&T has reached a combined $177 million settlement over two . And impacted consumers have a little over a month left to file a claim for their chunk of the money.

Legally "Skim" $6,361 Into Your Account?

Legally "Skim" $6,361 Into Your Account? - Ad

A former hedge fund manager is now sharing his "Skim Codes" with regular people. They're not stocks. They're not crypto. They're 18-character codes designed to profit from recent market conditions. All you have to do is punch them into an ordinary brokerage account. 84% of these codes have given people the chance to generate cash payouts so far... and his next code is going out any day now.

MacKenzie Scott Has Donated More Than $19 Billion, Yet Her Wealth Grows Faster

MacKenzie Scott, the billionaire philanthropist and ex-wife of Amazon founder Jeff Bezos, has donated a staggering $19.25 billion since 2020.

Some Social Security Recipients Won't Have To Wait Until 2026 For COLA Hike

Social Security and SSI recipients will receive a 2.8% cost-of-living adjustment in 2026, with SSI beneficiaries seeing the increase a day earlier due to a federal holiday.

Elon's New Device Could Launch Biggest IPO of the Decade

Elon's New Device Could Launch Biggest IPO of the Decade - Ad

Elon Musk's new device is being called a "game-changer"-and even the White House is using this tech. Jeff Brown says it could launch Musk's next trillion-dollar company and make early investors rich. You can claim a stake now for as little as $500.

Trump Administration Wins Temporary Supreme Court Reprieve In Fight Over Billions In SNAP Payments For 42 Million Americans

The Supreme Court temporarily froze a lower court ruling that had compelled the Trump administration to immediately provide full federal food benefits to roughly 42 million Americans.

Quantum Computer That Could 'Hack Everyone's Crypto': Why Eric Jackson Is Betting On BTQ Technologies As His Next 100-Bagger

Eric Jackson names BTQ his next 100-bagger, betting it can stop quantum computers from "hacking everyone's crypto."

Trump Signs Law to Launch Dollar 2.0

Trump Signs Law to Launch Dollar 2.0 - Ad

Trump just signed law S.1582, unleashing the biggest money shift in 100+ years. For the first time since 1913, private firms - not the Fed - can mint a "Dollar 2.0." Treasury says it could drain $6.6T from banks and pay 10X current savings rates. Early investors in minting firms could see 40X returns by 2032.

Pfizer clinches deal for obesity drug developer Metsea after a bidding war with Novo Nordisk

NEW YORK (AP) — U.S. pharmaceutical giant Pfizer signed a deal to purchase development-stage obesity drugmaker Metsera Inc., winning a bidding war against Novo Nordisk, the Danish drugmaker behind weight-loss treatments Ozempic and Wegovy.

Bill.Com Scales Payments Footprint With 33 Million Transactions

Bill Holdings, Inc. (BILL) reports Q1 fiscal 2026 results, beating analyst estimates with adjusted EPS of 61c and revenue of $395.74M.

Elon's Optimus to Mint New "Musk Millionaires" as Soon as Jan 26?

Elon's Optimus to Mint New "Musk Millionaires" as Soon as Jan 26? - Ad

Elon Musk may be set to create more "Musk Millionaires" as soon as January 26... Because on that day, he's expected to officially launch his Optimus robot... An AI-powered robot that Elon himself says will be capable of "doing anything bar nothing". Now, it's important to point out that Elon hasn't released it to the public yet... But ahead of the launch, one Silicon Valley insider has identified a "backdoor way" for any American to invest in Optimus with a regular brokerage account...

Palantir CEO Alex Karp Blasts Short Sellers Again As Stock Drops 11% This Week, Deems It 'Market Manipulation'

Palantir CEO Alex Karp takes aim at those betting against the stock as the software company's shares fell 11% this week.

Bill Gates Wasn't Eager To Meet Warren Buffett Until He Learnt This About The Oracle Of Omaha

Bill Gates almost skipped his meeting with Warren Buffett in 1991, but a push from his mother led to a daylong conversation that reshaped his business thinking and began a long friendship.

If You Hold Any Dollars in Your Bank Account, Read This...

If You Hold Any Dollars in Your Bank Account, Read This... - Ad

Strange events are unfolding in the global financial system. A monetary reset dubbed the "Mar-a-Lago Accord" is quietly in motion, and the financial elite are already taking protective action. If history is any guide, you could lose up to 40% of your wealth in the next two years. Move your money before it's too late.

Trump may become the face of economic discontent, a year after such worries helped him win big

WASHINGTON (AP) — President got a serious that he’s out of touch with their fears about a deteriorating U.S. economy.

Deep in Trump country, coal miners with black lung say government is suffocating the 'working man'

OAK HILL, W.Va. (AP) — Lisa Emery loves to talk about her “boys.” With each word, the respiratory therapist’s face softens and shines with pride. But keep her talking, and it doesn’t take long for that passion to switch to hurt. She knows the names, ages, families and the intimate stories of each one’s scarred lungs. She worries about a whole community of West Virginia coal miners — including a growing number in their 30s and 40s — who come to her for help while getting sicker and sicker from what used to be considered an old-timer’s disease: black lung.

Global Demand for Defense Metals Is Surging 7X

Global Demand for Defense Metals Is Surging 7X - Ad

Bitcoin's Crash Below $100,000 Isn't The End: Wall Street Vet Says: 'We Have To Get Through This'

For the first time since July, Bitcoin (CRYPTO: BTC) fell below $100,000 on Tuesday as the crypto sell-off saw $1.7 billion in liquidations in 24 hours.

Denmark eyes new law to protect citizens from AI deepfakes

COPENHAGEN, Denmark (AP) — In 2021, Danish video game live-streamer Marie Watson received an image of herself from an unknown Instagram account.

The Tesla Shock Nobody Sees Coming

The Tesla Shock Nobody Sees Coming - Ad

Qatar Airways to sell its holdings in Hong Kong's Cathay Pacific for $896 million

DUBAI, United Arab Emirates (AP) — Qatar Airways will sell its stake in Hong Kong-based Cathay Pacific Airways in a share buyback valued at $896 million, the companies announced, ending the Qatari carrier's .

Why TAL Education, Shake Shack And DexCom Just Appeared On Value Investors' Radars

A trio of stocks made an impressive leap in their Benzinga Edge value scores this week, with one standout making a 138% jump.

The U.S. Wants Metal Independence - And This Nevada Opportunity Fits the Moment

The U.S. Wants Metal Independence - And This Nevada Opportunity Fits the Moment - Ad

Serbia passes a special bill enabling Trump's son-in-law to build luxury complex despite opposition

BELGRADE, Serbia (AP) — Serbian lawmakers on Friday passed a special law clearing the way for a proposed real estate project that would be financed by an investment company linked to Donald Trump’s son-in-law despite and legal hurdles.

Trending Now