From NBCUniversal: 2024-05-21 23:03:45

At the Beijing auto show, Xpeng displayed its X9 electric MPV. The company’s Hong Kong-listed shares rose 13% after reporting improved profit margin and forecasting second-quarter deliveries of 29,000 to 32,000 cars, a year-on-year increase of at least 25%. Xpeng is set to launch its lower-cost vehicle brand, Mona, in June.

Xpeng reported a 5.5% increase in vehicle margin in the first quarter and delivered 21,821 cars during that time. The company is expanding its sales network to more than 20 countries, with partnerships established in Western Europe, Southeast Asia, the Middle East, and Australia. Xpeng saw a surge in services revenue, attributing it to its partnership with Volkswagen.

Read more: Chinese EV company Xpeng shares surge after forecasting delivery growth