XPeng Stock Jumps On Expansion Efforts In Middle East, Africa Amid Global Ambitions

• Xpeng highlighted its many advancements in the region, including the opening of a regional parts warehouse in Dubai and recent official launch in Qatar.
• Earlier this month, the company said that it delivered 39,773 vehicles overseas from January till November-end, marking a growth of 95%.
• XPeng is eyeing global expansion and currently has presence in over 50 countries worldwide.

Shares of Chinese EV maker XPeng (XPEV) traded 7% higher on Friday afternoon after the company announced several of its developments in the Middle East and Africa region.

The company said in a post on X that its Middle East & Africa journey is “cruising along nicely” as it highlighted that it has officially launched in Qatar, opened a regional parts warehouse in Dubai and partnered up in Mauritius. It also unveiled some showrooms in Abu Dhabi and Cairo, the company added.

Advances In The MEA Region

XPeng held a brand launch event in Doha, Qatar, in November where it introduced the G9 and G6 SUVs. The company also reportedly showcased products from its flying car subsidiary at the event. .

XPeng partnered with Qatar’s Almana Group in 2024 to enter the Qatar market. It inked an agreement designating Pioneer Motors, a unit of the Almana Group, as its exclusive distributor in the country.

The company had then said that it expects to launch the G6, G9 and P7 in the Qatari market by 2024-end but the plans seemingly hit a delay.

The warehouse in Dubai, meanwhile was opened in October, with the aim of enabling faster and more efficient support for the company’s G6 and G9 vehicles in the region.

The company also inked a deal with Mauritius based dealership Axess on December 16, marking its entry into the key Eastern African market, as per the images shared on X on Friday.

XPeng’s Expansion Efforts

XPeng is eyeing global expansion and currently has presence in over 50 countries worldwide. Last month, company President Brian Gu said, “Looking at the global product sales next year…we're looking for higher growth in the international markets compared to our domestic market. We're also looking for higher contribution economically from those markets.”

Earlier this month, the company said that it delivered 39,773 vehicles overseas from January till November-end, marking a growth of 95%. The company delivered 391,937 vehicles overall in the period, marking a growth of 156% year-on-year.

How Did Stocktwits Users React?

On Stocktwits, retail sentiment around XPEV stayed within the ‘bearish’ territory over the past 24 hours, while message volume fell from ‘normal’ to ‘low’ levels.

A Stocktwits user sees the stock rising higher up to $22 today.

Another highlighted the company’s efforts across EVs, flying cars and robots. “At the end of the day, as long as they are delivering products, this will easily 2x from $20,” they wrote.

XPEV stock is up by 78% this year and by about 58% over the past 12 months. 

Also See: Johnson & Johnson Terminates Experimental Eczema Drug Study After It Fails To Show Benefit

For updates and corrections, email newsroom[at]stocktwits[dot]com

Share

·

Add us on