XPEV Stock Alert: Xpeng Pops on News of Cheaper EV Brand

Xpeng (NASDAQ:XPEV) stock is rising 4% today on news that the company plans to launch a line of electric vehicles (EVs) priced at 50% less than its current models.XPEV stock has lost 28% of its value since the start of 2024. Shares currently trade for about $10 apiece, at a market capitalization of about $9.6 billion.XPEV Stock: Drive Cheap Down Electric AvenueCEO He Xiaopeng said that Xpeng’s new electric vehicles will cost between $14,000 and $21,000, making them competitive with the lower-priced models o ...