XPeng Stock Drops Amid New Vehicle Launch and Rising Deliveries

XPeng Inc. has seen a decline in its stock prices amid a broader downturn affecting U.S.-listed Chinese companies. This drop follows a brief period of strength after the announcement of a new stimulus package by China's Central Bank aimed at revitalizing the economy. The package includes a reduction in the reserve requirement ratio and cuts to loan and deposit rates, which are intended to address the slowdown in China's markets. In a bid to expand its market presence, XPeng has launched a new version of its Multi-Purpose Vehicle (MPV), the X9 610 Max, priced at RMB 379,800 ($54,090). This new model is equipped with advanced features, including two LiDAR sensors for enhanced driving capabilities, making it a more premium offering compared to the base model. Despite the stock decline, XPeng has reported a significant increase in deliveries, with 77,209 Smart EVs delivered in the first eight months of 2024, marking a 17% rise from the previous year. Monthly deliveries of the X9 have remained steady, with 1,450 units delivered in August alone, indicating a growing interest in their new vehicle offerings. The combination of a new vehicle launch and rising delivery numbers suggests that XPeng is actively working to strengthen its position in the competitive electric vehicle market, even as external economic factors pose challenges. The company's efforts to innovate and expand its product lineup may help mitigate the impact of the current stock market trends.