XPeng stock falls after August deliveries nearly triple, but manufacturing shift affects some G3 deliveries

2 weeks ago 9
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Shares of XPeng Inc. XPEV, +4.29% fell 2.2% successful premarket trading Wednesday, aft the China-based electrical conveyance shaper reported a adjacent tripling successful August deliveries, but said immoderate planned deliveries were affected by a displacement successful its manufacturing base. The institution said August deliveries roseate 172% from a twelvemonth agone to 7,214 EVs, consisting of 209% maturation successful P7 sports sedan deliveries to a grounds 6,165, and 1,049 G3 compact SUVs. The institution plans to officially motorboat the P5 household sedan exemplary connected Sept. 15, with deliveries expected to statesman successful October. The institution said it began to modulation accumulation for the G3 SUV to G3i to its wholly owned Zhaoqing Smart EV Manufacturing base, which affected immoderate planned deliveries of G3s successful August. The institution expects to commencement deliveries of the G3i successful September. The banal has surged 22.8% implicit the past 3 months, portion China-based rival Nio Inc.'s banal has mislaid 7.2% and the S&P 500 SPX, -0.13% has gained 7.6%.

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