XPeng Inc. (NYSE:XPEV) saw a 5.97% increase on Monday, closing at $21.41 per share. The company’s first hybrid vehicle, X9 EREV, is set to launch in the fourth quarter of the year, following positive sales prospects from China’s Ministry of Industry and Information Technology’s catalog of expected vehicle launches.

The X9 EREV, slightly longer than the all-electric X9, features a 1.5-liter engine as an extender, with plans to make it a reliable seven-seater family car. XPeng Inc. (NYSE:XPEV) CEO, He Xiaopeng, confirmed the global model has been tested in 20 countries and 330 cities.

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Read more at Yahoo Finance: XPeng (XPEV) Extends Rally as First Hybrid Vehicle Launch Raises Sales Prospects