XPEV - Xpeng stock rises ahead of index inclusion

Xpeng ( NYSE: XPEV ) stock surged on Monday after the Hang Seng TECH Index announced that the automaker will join the index.

Following a periodic index review, Xpeng ( XPEV ) will join the tech heavy index, according to the company. The automaker indicated the change is due to take place on March 7. The company is also expected to join the Hang Seng China Enterprises Index by mid-month, replacing China Feihe.

“We are very excited to be included as a constituent stock in the Hang Seng TECH Index,” We are particularly proud of being one of the first to join this Index as an 'Autonomous' technology theme,” CEO He Xiaopeng said. “To be chosen as part of one of the most recognized Hong Kong stock market indices reinforces our vision of transforming smart mobility with technology and our strategy to bring the most sophisticated technologies to a broad base of customers.”

Shares of the Guangzhou-based EV manufacturer rose 4.64% at the open on Monday.

Read more on EV catalysts expected this week .

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