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

The Big Texas Party No One Is Talking About... - Ad

Biggest Dividend Payout in U.S. History: $1 Trillion up for Grabs! - Ad

Elon Musk Drops Stunning Bombshell? - Ad

WASHINGTON (AP) — Just days after to acting IRS commissioner, the whistleblower who testified publicly about investigations into Hunter Biden’s taxes is out of the job, according to three people familiar with the decision.

Rep. Marjorie Taylor Greene bought stocks hit hard by Trump tariffs during the market meltdown

NEW YORK (AP) — Give Marjorie Taylor Greene credit where it’s due: As stocks tanked on tariff fears, she showed her faith in the president not just with words but dollar bills.

Brace Yourself for Jeff Bezos' "Amazon Helios"

Brace Yourself for Jeff Bezos' "Amazon Helios" - Ad

Amazon delivers 20 million packages a day... powers some of the most popular websites... delivers medication to half of the U.S. population... and even produces award-winning films and TV shows. But a Wall Street legend -- twice featured on 60 Minutes -- predicts that "Amazon Helios" will be bigger than all of those... COMBINED.

Prince Harry appeals the loss of his UK security detail

LONDON (AP) — wants his British security detail restored and is taking his case to an appeals court.

Here's a look at recent aircraft tragedies, mishaps and close calls

The killed all six on board — a physician couple and their accomplished children and partners — during a family trip to the Catskills.

Elon's Biggest Secret Could Save Your Retirement

Elon's Biggest Secret Could Save Your Retirement - Ad

From a near-fatal car crash to surviving deadly malaria, Musk's fearless drive built Tesla, SpaceX, and Starlink. Now, he's warning America--and smart investors are listening. Discover the Trump IRS Loophole to protect your IRA & 401(k).

Trump meets with the House GOP as his 'big' bill of tax breaks and spending cuts teeters

WASHINGTON (AP) — found himself in a familiar jam on Tuesday: Conservative Republican holdouts are stalling action on "big” bill of tax breaks and spending reductions, refusing to accept approved over the weekend because it doesn't cut enough.

Despite a court order, White House bars AP from Oval Office event

Despite a court order, a reporter and photographer from The Associated Press were barred from an Oval Office news conference on Monday with President Donald Trump and his counterpart from El Salvador, Nayib Bukele.

Maverick Trader Reveals 97% Accurate System

Maverick Trader Reveals 97% Accurate System - Ad

This man's simple strategy makes money in any market...With a 97% accuracy at hitting winners over the past 8 years!

Trump hits the golf course as stock market continues to slide from his tariff plans

WEST PALM BEACH, Fla. (AP) — Two days after sending the global economy reeling by on foreign imports, President insisted his trade policies will “NEVER CHANGE” as he remained ensconced in a bubble of wealth and power in Florida.

Paige Bueckers talks about her investment stake in Unrivaled league on 'Good Morning America'

NEW YORK (AP) — Paige Bueckers is ready to start not just her WNBA career with the Dallas Wings but her career as a businesswoman as well.

Nvidia Is About to Shock the World: July 23rd

Nvidia Is About to Shock the World: July 23rd - Ad

Jeff Brown, the tech legend who picked shares of Nvidia in 2016 before they jumped by more than 22,000%, is warning everyone to... Mark this date on your calendar: July 23rd! That's when Nvidia could help send shares of this Elon Musk supplier skyrocketing higher.

US egg giant Cal-Maine says government is investigating price increases

Shares of Cal-Maine Foods, the largest U.S. egg producer, fell in after-hours trading Tuesday after the company acknowledged it is being investigated by the antitrust division of the U.S. Department of Justice.

Hollywood lands a much-needed box office hit with ‘A Minecraft Movie’

Hollywood needed to be a hit, and it delivered in its opening weekend, significantly narrowing this year's .

Trump's plan to save the U.S. Dollar

Trump's plan to save the U.S. Dollar - Ad

The U.S. Dollar is crashing, and our reserve currency status is now in serious jeopardy leaving some to wonder -- is this being done by design? A 25-year economist and investor answers here... and details the exact steps you should be taking with your money to prepare.

Scholarships for child care are drying up. Now families are paying the price

PHOENIX (AP) — For parents who need to work but can't afford the steep , federally funded scholarships can be a lifeline. Delivered through state child care assistance programs, the scholarships can mean the difference between a parent working full time — or not at all.

Trump Tariffs Are A 'Pipe Dream,' Former Treasury Secretary Yellen Says: Americans Feel 'Paralyzed' By Uncertainty

Tariff uncertainty has "paralyzed" households and businesses across America, according to Former Treasury Secretary Janet Yellen.

No.1 Opportunity for 2025 [Take Action Now!]

No.1 Opportunity for 2025 [Take Action Now!] - Ad

Starlink's potential IPO Could Be the Biggest in History--Silicon Valley insider James Altucher has uncovered a way to profit BEFORE the IPO--with as little as $50. Musk's $180B giant is set to launch--will you miss out? Claim your spot before it's too late.

Apple Tops Global Smartphone Sales With 19% Share, Boosted By iPhone 16e, Emerging Market Growth

Apple tops global smartphone sales in Q1 with 19% share, helped by iPhone 16e launch and growth in emerging markets. Samsung follows with 18% share. Tariffs may impact market decline in 2025.

The Trump administration withdrew 11 pieces of ADA guidance. How will it affect compliance?

ATLANTA (AP) — President Donald Trump’s administration withdrew 11 pieces of guidance last month related to the Americans with Disabilities Act that helped stores, hotels and other businesses understand their obligation to the law.

Putting Your Name on This List Could Hand You $1,270 on Friday

Putting Your Name on This List Could Hand You $1,270 on Friday - Ad

URGENT: On Tuesday, a simple set of instructions will be sent out to an elite group of investors. The folks in this group will have the opportunity to place a 10-minute trade that could double their money by Friday. Consider this your invitation to join them. The next trade is just days away.

FDA Approves Dexcom's 15-Day Wearable Glucose Management System. Company Plans US Launch

Dexcom G7 15-Day CGM approved by FDA for adults with diabetes; U.S. launch set for late 2025 with extended wear and advanced tracking features.

How war, money and the quest for discovery entwined the US government and universities

NEW YORK (AP) — The between the Trump administration and Harvard University is spotlighting and big dollar figures. But in the battle of the moment, it’s easy to lose sight of a decades-long alliance between the U.S. government and the nation’s most prominent universities, forged to fight a world war.

Elon's Greatest Invention... Hidden in South Memphis?

Elon's Greatest Invention... Hidden in South Memphis? - Ad

Tech legend Jeff Brown recently traveled to the industrial zone of South Memphis to investigate what he believes will be Elon's greatest invention ever... Yes, even bigger than Tesla or SpaceX.

Will the tariffs lead to a recession? Here's how to know if we're in one

WASHINGTON (AP) — President Donald Trump's last week have sent the stock market into a tailspin, raised alarm bells among Wall Street executives, and heightened many economists' worries that the U.S. could tip into recession.

Marjorie Taylor Greene Made Large Stock Purchases Ahead Of Trump's 90-Day Tariff Pause: Hakeem Jeffries Calls It 'Problematic'

Rep. Marjorie Taylor Greene (R-Ga.) disclosed her significant stock purchases made just before and on the day of former President Donald Trump's announcement to pause global tariffs. This announcement had a substantial impact on the stock market.

World Economic Forum: "Arguably the Most Exciting Human Discovery Since Fire"

World Economic Forum: "Arguably the Most Exciting Human Discovery Since Fire" - Ad

Sam Altman, Bill Gates, and Mark Zuckerberg are all investing vast sums of money into a radical technology. According to Bloomberg, this could become 10 times bigger than AI, quantum computing, electric vehicles, cryptocurrencies, and robotics combined. And one stock is at the center of it all.

What's Going On With Starwood Property Trust Stock On Friday?

Starwood Property Trust affiliate Starwood Capital acquires $800M Texas housing portfolio from Hines.

Internal Revenue Service agrees to send immigrant tax data to ICE for enforcement

WASHINGTON (AP) — The has agreed to share immigrants' tax data with Immigration and Customs Enforcement for the purpose of identifying and deporting people illegally in the U.S., according to a document signed by Treasury Secretary Scott Bessent and Department of Homeland Security Secretary Kristi Noem.

Trump to Unlock 15-Figure Fortune for America (May 3rd)?

Trump to Unlock 15-Figure Fortune for America (May 3rd)? - Ad

This map looks ordinary--but according to insider Jim Rickards, it reveals a hidden government asset so massive . Trump may soon unlock it--learn how to position yourself before it's too late!

Anthony Scaramucci Says 26 Years Ago Warren Buffett's Amazon Caution Cost Him Millions: Former Trump Official Sees Today's AI Hype As History Repeating

Anthony Scaramucci shared how Warren Buffett's caution in 1999 led him to miss out on millions in Amazon stock, and how he believes the current skepticism surrounding AI mirrors that same missed opportunity.

Bitcoin 11% Away From Falling Below Strategy's Average Buying Price, But Michael Saylor's Confidence In Apex Crypto Remains Intact

Strategy Inc. (NASDAQ:MSTR) risked incurring unrealized losses on its Bitcoin (CRYPTO: BTC) purchases, yet co-founder Michael Saylor remains bullish on the apex cryptocurrency.

New Study: 50 Stocks Will Crash While 7 MAGA Stocks Will Soar

New Study: 50 Stocks Will Crash While 7 MAGA Stocks Will Soar - Ad

If you own any of these stocks -- directly or through mutual funds -- I want to encourage you to sell them before April 30th. I've compiled all 50 companies in my "MAGA Blacklist" report. Your retirement could depend on seeing this list.

Ex-Abercrombie CEO has dementia and is unfit for sex trafficking trial, prosecutors and defense say

NEW YORK (AP) — The former CEO of Abercrombie & Fitch is suffering from dementia and isn't competent to , according to prosecutors and his lawyers.

Judge Strikes Down Biden-Era Rule Capping Credit Card Late Fees At $8

Federal judge rules against Biden's credit card late fee cap, a win for finance industry. Ruling considered a setback for consumer protection.

The Most Important "AI Stock" You've Never Heard Of

The Most Important "AI Stock" You've Never Heard Of - Ad

The AI revolution is moving faster than anyone expected. But what no one is talking about is the one company AI simply can't exist without. It may be the single most important AI investment, yet most people don't even know its name. For now. The moment Wall Street catches on, this $20 stock could explode.

Trump says things are 'going very well' after worst stock market drop in years over tariffs

WASHINGTON (AP) — offered a rosy assessment after the Thursday over his tariffs, saying, “I think it's going very well."

What's Going On Mullen Automotive Stock On Monday?

Mullen Automotive discloses sale of electric cargo van to Global Expert Shipping, fulfilling order through partner Pritchard Automotive.

The Big Texas Party No One Is Talking About...

The Big Texas Party No One Is Talking About... - Ad

Hundreds gathered to privately celebrate deep in Texas' brush country -- locals, state officials, energy insiders, a former U.S. Secretary of Energy, even George W. Bush. Why? Opportunity and MONEY. Not from oil or natural gas ... but an energy-packed METAL that's set to unleash a massive, new third wave of Texas energy wealth.

Michigan Democratic Gov. Whitmer strays from her party in moving closer to Trump

LANSING, Mich. (AP) — Michigan Gov. Gretchen Whitmer delivered a speech emphasizing points of agreement with President on economic policy, just hours before their scheduled meeting — a reflection of the high-profile Democrat’s more toward the president as her party ramps up its attacks on him.

Trending Now