Xpeng (NYSE: XPEV) shares soared after Chairman He Xiaopeng revealed plans to begin mass production of its flying car model and industrial robots by 2026.
The electric vehicle maker’s Hong Kong-listed shares jumped as much as 7.1% on Monday, briefly hitting their highest level since August 2022, before pulling back slightly. The stock has been on a tear this year, nearly doubling in value and outpacing all competitors on Bloomberg Intelligence’s global EV stock index, which has gained over 4% since January.
Investors are increasingly drawn to companies developing high-technology products, seeking opportunities to capitalize on Hong Kong’s artificial intelligence-led equity rally. Xpeng (NYSE: XPEV) has also seen a boost in interest thanks to robust order momentum for its new battery EV models, bolstered by competitive pricing and impressive autonomous driving features.
“Xpeng shares have got a lift this year from its improving monthly sales figures, demonstrating to investors that its product strategy is working well despite intense competition,” said Steven Leung, executive director at UOB Kay Hian Hong Kong Limited.
However, Leung tempered expectations about the latest announcement, noting that while the plans for flying cars and humanoid robots could lift investor sentiment, their financial impact remains uncertain. “It’s still distant for those projects to translate into earnings contributions,” he said, suggesting that Xpeng’s near-term growth will likely hinge on its core EV business.
