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Xpeng Jumps as China Trading Link Inclusion to Widen Investor Base

Stock Markets Feb 09, 2022 05:41AM ET
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By Dhirendra Tripathi

Investing.com – Xpeng stock (NYSE:XPEV) traded 5.2% higher in premarket Wednesday on inclusion of the company’s Hong Kong-listed shares in a trading link to mainland China known as the Shenzhen-Hong Kong Stock Connect.

The move should expand the company’s investor base as mainland Chinese investors will now have easier access to the shares of the maker of electric vehicles. Those shares closed 8% higher in Hong Kong.

“The inclusion will not only further expand and diversify our investor base but also provide the opportunity for our customers, partners and EV and technology investors in China to participate in our exciting growth story,” President Brian Gu said in a statement.

The company went public in the U.S in 2020, and within a year of that, listed in Hong Kong as well. The Hong Kong shares of the company are fungible with its ADRs.

It competes with Nio (NYSE:NIO) in the Chinese market. Li Auto (NASDAQ:LI) is the third player in the world’s largest market for EVs, where Tesla (NASDAQ:TSLA) and Volkswagen (DE:VOWG_p) are also active.

Xpeng sold 12,922 vehicles in January, a 115% rise year-over-year. As such it overtook Nio, whose sales grew by only 34% to 9,652 vehicles in the same period.

Xpeng Jumps as China Trading Link Inclusion to Widen Investor Base
 

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