Chinese EV maker XPeng (NYSE:XPEV) is undertaking organizational changes to alleviate bottlenecks and rationalize costs, according to multiple reports.
Further, the development is significant ahead of XPeng’s Tech Day on October 24.
The company is expected to showcase the latest in its driving technology, EVs as well as flying models during the event.
Despite a nearly 84% slump in its share price year-to-date, short interest in XPEV stock is running high at nearly 6% at present.
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