Shares of XPeng Inc. surged Friday, after the China-based electric vehicle maker launched its G6 Ultra Smart Coupe SUV, with deliveries to start in China in July.
The price of the sporty sport-utility vehicle will be between RMB209,900 and RMB276,900 — or about $28,899 to $38,124 at current exchange rates.
The vehicle’s range is 580 kilometers (360 miles) for the 580 long-range Max & Pro model and 755 kilometers (469 miles) for the 755 super-long range Max & Pro.
XPeng’s U.S.-listed stock
XPEV,
+0.42%
stock charged up 7.4% in premarket trading, putting it on track for a nine-month high.
Among its rivals, shares of Nio Inc.
NIO,
-1.37%
gained 2.2% and Li Auto Inc.
LI,
-2.22%
inched up less than 0.1%. Shares of Tesla Inc., which generated 21% ($4.9 billion) of first-quarter revenue in China, edged up 0.5%.
“XPENG G6 embodies our unwavering commitment to technology innovation and reaffirms our mission to lead the mobility transformation,” said Chief Executive Officer He Xiaopeng. “We believe that our forward-looking technology roadmap and vision for making innovative technology accessible to the mass market firmly position XPENG as an industry trendsetter and leader in customer satisfaction.”
XPeng Inc.
The company said the new five-seater G6 is equipped with its full-scenario advanced driver assistance system (ADAS), or XNGP, enabled by XNet, the company’s deep visual neural network. The vehicle has 31 smart sensors, including two LiDARs (light detection and ranging), with computing power driven by the dual Nvidia Drive Orin-X chips.
XPeng said the G6’s features will allow the vehicle to visualize panoramic road conditions in real time and handle multiple driving scenarios, including starting the car and parking.
The G6 requires just 10 minutes of charging for 300 kilometers (186 miles) of range on XPeng S3/S4 supercharging piles. On public fast-charging stations, the G6 can charge more than twice as fast as other EVs, the company boasts.
The company said the G6 is equipped with 13 safety systems, which allows the vehicle to assess risks in front, behind and on both sides.
XPeng’s stock has run up 19.0% year to date through Thursday, while the iShares MSCI China exchange-traded fund
MCHI,
-1.51%
has lost 6.7% and the S&P 500 index
SPX,
+0.45%
has advanced 14.5%.
