Shares of China’s Xpeng surge after 30,000+ orders for new P7+ sedan · TechNode

Shares of Xpeng Motors closed up 15.6% on Thursday after the Nasdaq-listed electric vehicle maker said it secured 31,528 firm reservations with non-refundable deposits of RMB 5,000 ($699.40) in just a few hours following the launch of the P7+ electric sedan in the Chinese market. The RMB 186,800 ($26,130) starting price of the P7+ is RMB 23,000 lower than the original pre-sale price, and the entry-level version of the hatchback-styled sedan provides a driving range of 602 kilometers (374 miles) and accelerates from 0 to 100 km in 6.9 seconds. A week ago, the company reported record deliveries of 23,917 vehicles in October. This was mainly thanks to the strong demand for its budget EV, the MONA 03, priced between RMB 119,800-155,800 and featuring capabilities to autonomously handle some driving tasks on Chinese highways and city streets. [Xpeng announcement, in Chinese]