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XPeng (XPEV) Shares Edge Higher Premarket After Exporting P7 Sedan To Norway For The First Time

Sam Boughedda trader
Updated 25 Aug 2021

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XPeng Car XPEV

XPeng (NYSE: XPEV) shares are edging higher premarket on Wednesday after the company said it has started shipping its flagship P7 model to Europe for the first time.

The vehicles will be sent from Guangzhou in China to Norway. It marks the first time the P7 has been sent outside of China, reaffirming its ambitions to expand globally.

Norway is XPeng's first international market, with electric vehicle uptake in the country high. In 2020, more than 70% of all cars sold in the country were electric.

The electric vehicle firm expects to deliver the P7 to customers in Norway during Q4 this year.

“We are dedicated to meeting the growing customer demand for our smart EVs in China and internationally by bringing the most sophisticated and stylish models to our customers,” said He Xiaopeng, Chairman and CEO of XPeng.

“We are seeing smart EVs not only redefining driver experience with their innovative functions and differentiated services, but also offering the potential to fundamentally transform mobility behaviour. We are eager to bring these advanced capabilities and services to our international customers in highly localized forms,” He said.

XPeng shares are up 0.76% premarket at $40.86.

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Sam is a trader and lead stock market writer at AskTraders. After starting his career in the forex market, Sam now focuses on stocks, specifically consumer staples.