XPeng stock pops 10% as the EV maker reveals its G9 SUV

XPeng Inc. (NYSE: XPEV) unveiled its fully electric SUV, the G9, today, August 11, before officially launching in China this September.

Some of the main distinguishing features of this model include its ultra-fast charging capabilities along with its Dynamic Aesthetics design with a wraparound interior that is aimed at car enthusiasts looking for a luxurious interior look and feel. 

Furthermore, XPeng G9 has a peak motor power of 405 kW (front: 175 kW; rear: 230 kW) and a peak torque of 717 Nm. 

After releasing the news, XPEV stock popped at marker open and is currently up 10.48% at the time of writing. 

XPEV chart and analysis

In the last month, XPEV has been trading in the $22.03 to $30.44 range, with negative short-term and long-term trends. XPEV is one of the lesser performing stocks in the Automobile industry, with 60% of 30 stocks in the same niche performing better. 

As per technical analysis, the support line is located at $24.47, and the resistance is at $30.85. 

Analysts on Wall Street rate the shares a strong buy, predicting that in the next 12 months, the shares could reach an average price of $37.10, which is 47.11% higher than the current trading price of $25.22 notably none of the analysts advocate to sell.

XPEV has seen whipsaw action throughout August, mostly due to downgrades but also the delivery numbers the firm posted. 

Despite the day-to-day gyrations of the market, the news of a new, highly anticipated SUV model could be a boon for the stock, and the current rally could represent the beginning of another leg higher for XPEV. 

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