Xpeng shares rose after the Chinese electric car company said prices for its new mass-market Mona brand would start as low as $16,812, far below that of Tesla's Model 3.
The Chinese automaker said orders for the Mona M03 electric coupe exceeded 10,000 just 52 minutes after the car's formal launch Tuesday evening in Beijing.The Chinese automaker said orders for the Mona M03 electric coupe exceeded 10,000 just 52 minutes after the car's formal launch in Beijing. Xpeng's U.S.-listed shares closed up 6.5% in New York trading on Tuesday, while its Hong Kong-traded shares rose nearly 2% early Wednesday morning."With cars priced under $20,000, China is further cementing its new position as the world center for automotive manufacturing," Michael Dunne, founder and CEO of consulting firm Dunne Insights, said Wednesday on CNBC's"bought at least 1 million sharesThe total U.S.