XPeng (XPEV) Tumbles 6% as China Reports Lower EV Deliveries

We recently published 10 Stocks That Vanished in Value XPeng Inc. (NYSE:XPEV) is one of the worst-performing stocks on Tuesday.

XPeng Inc. snapped a three-day winning streak on Tuesday, losing 6.08 percent to close at $20.08 apiece as investors repositioned portfolios ahead of the release of its earnings performance next week, while also digesting news of lower vehicle deliveries in China.

According to the company, it is set to announce the results of its second quarter earnings performance before market open on Tuesday, August 19.

In other news, XPeng Inc. (NYSE:XPEV) confirmed last week the launch of its first hybrid vehicle in the fourth quarter of the year.

This followed the release of China’s Ministry of Industry and Information Technology’s catalog of expected vehicle launches, which included the X9 EREV, the hybrid version of the X9 variant.

According to XPeng Inc. (NYSE:XPEV) CEO He Xiaopeng, the X9 EREV will be a global model, having been tested in 20 countries and 330 cities.

The X9 EREV is slightly longer than the all-electric X9, and is equipped with a 1.5-liter engine as an extender.

Meanwhile, the China Association of Automobile Manufacturers (CAAM) said that total EV deliveries, comprising passenger and commercial vehicles, slid by 5 percent month-on-month to 1.26 million units in July.

The decline was attributed to Beijing’s earlier calls to roll back on discounts and focus on profitability first.

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