TSLA - What's Going On With XPeng Stock? | Benzinga
XPeng Inc. (NYSE:XPEV) shares are trading lower Monday after Tesla, Inc. (NASDAQ:TSLA) and Li Auto, Inc. (NASDAQ:LI) reduced electric vehicle prices in China.
The Details:
Several EV-makers have introduced new price cuts in China, sparking a price war among EV manufacturers.
Tesla cut the prices of its Model Y, Model X and Model S vehicles by $2,000 and reduced the price of its Full Self-Driving software from $12,000 to $8,000 in the U.S.
Li Auto announced on Monday that it has cut prices by approximately 5% on its L7, Li L8, Li L9, and Li MEGA models and will offer cash refunds to owners who purchased the vehicles earlier in the ...