XPeng‘s US-listed shares surged on Monday by over 15%, hitting a new eight-month high of $25.72.
The stock reached its highest value since mid March and is only 6% away from reaching a new three-year record
Year to date, XPeng‘s US-listed shares have more than doubled as the company is on track to reach both its ambitious goals set for 2025.
The company founded and led by He Xiaopeng said late last year it was aiming to double the number of markets to 6o and the number of vehicles delivered to about 380,000 units.
In the past month, the Chinese automaker’s US-listed shares have been highly volatile, influenced by news about upcoming products, a new record on vehicle deliveries, and ongoing US-China trade tensions.
XPeng AI Day
On November 5, XPeng held its AI Day at its Guangzhou headquarters, where the company announced details of its Robotaxi program and unveiled the next-generation humanoid robot.
Both programs are planned to begin next year.
However, the stock closed 4% lower at $21.79 on the event’s day. Shares then rebounded 9.6% on November 6, closing at $23.89.
XPeng will report its third-quarter financial results next Monday, November 17.
Volkswagen Partnership
Volkswagen partnered with XPeng in 2023 to jointly develop vehicles for the Chinese market.
China’s Ministry of Industry and Information Technology (MIIT) has revealed on Monday, for the first time, the upcoming model from the XPeng–Volkswagen joint venture.
Volkswagen has filed for the ID.Unyx 08, a fully electric SUV, based on XPeng‘s G9 platform and advanced driver assistance system (ADAS) software.
A previous report had stated that the first model to feature the AD software would be a mid-size SUV and that Volkswagen was already testing XPeng‘s XNGP on the upcoming EV.
Mass production is expected to begin next year.
XPeng’s VLA 2.0
Last week, during its AI Day event, XPeng‘s founder and CEO He Xiaopeng said that the company is planning to open-source its autonomous driving stack to commercial partners, including chips, EEA architecture and VLA/VLM models, adding that its partner Volkswagen will be the first to access it.
“Volkswagen will be our launch customer, and XPeng‘s Turing AI chips have been selected by VW,” the chief executive said in the roundtable that followed the event.
Last week, it was reported that South Korean Hyundai Group is in talks with XPeng to license its autonomous driving tech.
