Shares of Chinese EV maker XPeng (NYSE:XPEV) are inching upward today after it announced the launch of the XPENG G6 Ultra Smart Coupe SUV on June 29.
This is the first model produced under the company’s next-generation SEPa 2.0 vehicle technology architecture. Importantly, the G6 model had clocked over 25,000 pre-orders in just three days after its store debut earlier this month.
The model is expected to come in three variants to be available at RMB 263,900, RMB 313,900, and RMB 363,900, respectively.
In another development, last week, the company selected ACCESS Co’s Twine4Car Platform for its in-vehicle infotainment solution. The solution will offer apps, games as well as streaming services for the company’s EVs beginning with the XPENG P7 sedan.
Overall, the Street has a $9.29 consensus price target on XPeng alongside a Hold consensus rating. Despite today’s uptick, XPeng shares are still down nearly 69% over the past year.
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