Xpeng Stock Rises In Hong Kong On Hybrid Expansion Hints — Europe Could Pit It Against Stellantis’ Lone Chinese EV Backing

• CEO He Xiaopeng signaled XPeng may bring its hybrid models to Europe after extensive X9 testing across the region.
• Strong early demand for the X9 hybrid is driving a production ramp while Austria-based manufacturing helps offset EU EV tariffs.
• A European hybrid push would place XPeng in the same segment where Stellantis backs the only other Chinese EREV contender.

Xpeng’s shares rose in Hong Kong on Thursday after CEO He Xiaopeng signaled that the company is considering bringing its hybrid models to Europe, a move that could position the brand against the only Chinese EV maker backed by Stellantis.

The stock rose nearly 2% early Hong Kong trade on Thursday, while its U.S.-listed shares fell 2.2% on Wednesday before edging up 0.5% after hours.

His remarks come after the extended-range X9 Power X has been spotted undergoing testing across multiple European markets in recent weeks, EV reported.

Xpeng Accelerates EREV Push As X9 Demand Surges

The extended-range X9 Power X launched in China last week at 309,800 yuan, positioned as the hybrid counterpart to the fully electric X9, which starts at 359,800 yuan. He said EREVs (extended-range electric vehicles) will be “crucial” in accelerating the shift from internal combustion engines to new-energy vehicles. Xpeng also noted that demand for the hybrid has been strong, especially in northern and inland regions of China, prompting the company to accelerate supply chain activity to ramp up production.

President Brian Gu added that the hybrid is expected to account for the majority of X9 sales compared with the electric version.

Europe Rollout Gathers Pace Amid Tariff Workarounds

Xpeng’s current European lineup includes the G6 and G9 SUVs and the prior-generation P7 sedan. The company plans to expand further with the MONA series and the next-generation P7 in 2026. 

Xpeng is also mitigating tariff pressure for its electric vehicles by starting local production in Austria with Magna Steyr, while hybrids remain exempt from the elevated EV tariffs imposed by the European Union.

Europe Could Become A New Battleground With Stellantis

If Xpeng moves forward with a European hybrid launch, the region could become a competitive front with Stellantis-backed Leapmotor, the only Chinese automaker currently offering extended-range technology in Europe.

Leapmotor’s C10, which is available in both EREV and BEV (battery electric vehicle) versions, is already on sale in Europe through Leapmotor International, a Stellantis-led joint venture formed after Stellantis invested 1.5 billion euros for a 21% stake in 2023. 

Leapmotor’s European rollout is already underway, supported by Stellantis’ network, with 200 sales points this year and a target of 500 by 2026.

Hybrids Give Xpeng A Tariff Advantage 

While Chinese-made battery-electric vehicles now face steep tariffs in Europe, imported hybrids, including Xpeng’s upcoming extended-range models, do not. Xpeng’s CEO has framed EREV technology as particularly suited for large vans like the X9, especially in countries with limited charging infrastructure.

Xpeng aims to reach 60 markets by the end of the year, doubling the number of countries it was present in by late last year.

Stocktwits Users Show Bearish Mood

On Stocktwits, retail sentiment for Xpeng was ‘bearish’ amid ‘low’ message volume.

Xpeng’s U.S.-listed stock has risen 79% so far in 2025.

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

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