XPeng (NYSE:XPEV) shares are up in double digits today after the Chinese EV maker launched the much-awaited XPENG G6 Ultra Smart Coupe SUV in China.
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This is XPeng’s first model under its next-generation SEPA 2.0 vehicle technology architecture. The G6 is available for sale in the range between 209,900 RMB to 276,900 RMB and had witnessed more than 25,000 pre-orders within 72 hours of its store debut earlier in June. After much anticipation, initial vehicle deliveries are expected to begin next month.
Impressively, the SUV packs in the company’s ADAS (Advanced Driver Assistance System) solution, its 800V powertrain system called XPower as well as its 800V high voltage SiC (silicon carbide) platform.
What’s more, the vehicle also offers a range of 755 km while a 10-minute charge delivers a range of 300 km.
Today, Morgan Stanley’s Tim Hsiao has reiterated a Buy rating on XPeng alongside a $12.50 price target. Overall, the Street has a $9.29 consensus price target on XPeng with a Hold consensus rating. Shares of the company have exploded nearly 63.3% over the past month already.
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