2023-06-30 10:28:28 ET
XPeng ( NYSE: XPEV ) soared on Friday after the Chinese electric vehicle maker launched the highly-anticipated G6 Ultra Smart Coupe SUV.
The G6 features XPeng's ( XPEV ) full-scenario ADAS XNGP, which the company called the most advanced and capable in China. The vehicle is the first to be produced using SEPA 2.0, the company's next-generation vehicle technology architecture. The G6 is noted to deliver XPeng's ( XPEV ) latest smart driving, intelligent cabin, superfast charging, and superior performance features.
Model details: "The G6 is designed to achieve industry-leading charging capacity and energy efficiency to empower superior range performance and charging experience. Its energy-saving attributes include 17 optimized anti-drag design features, a cutting-edge X-HP 3.0 Intelligent Thermal Management System, and reduced body weight thanks to China's only front and rear integrated aluminum body die-casting technology, all of which help to extend the G6's range as far as 755 km (with 13.2kWh energy consumption per 100 km. Furthermore, with the industry's first mass-produced 800V SiC (silicon carbide) platform and a standard 3C battery, the G6 can now realize maximum charging speeds, requiring just 10 minutes of charging for 300 km of range on XPENG S3/S4 supercharging piles."
CLSA forecasts the G6 model could reach 10K monthly sales units to help Xpeng’s ( XPEV ) sales return to 15K units per month in Q3. Analyst Aaron Zijun Li and team think the potential launch of XNGP and the government’s supportive attitude should enhance Xpeng's ( XPEV ) outlook. However, the firm dropped its rating on XPeng ( XPEV ) to Outperform from Buy due to the recent share price rally.
Shares of XPeng ( XPEV ) jumped 14.03% in morning trading to $13.48. The electric vehicle stock is up more than 65% over the last six weeks.
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XPeng pops after G6 SUV launch creates buzz