EPeng stock soars after six-fold increase in January deliveries

XPeng Inc. XPEV shares,
-3.95%
was up 4.6% in pre-market trade on Monday, after the China-based electric vehicle maker announced a six-fold increase in January deliveries. The company said overnight it delivered 6,015 vehicles in January, up 470% from the same period a year ago, and to mark the third consecutive month of record deliveries. Deliveries included 3,710 P7 smart sports sedans and 2,305 G3 smart compact SUVs. XPeng’s report comes as fellow China-based electric vehicle manufacturer Nio Inc. NIO,
-2.35%
reported a 352% increase in January deliveries to 7,225 vehicles. Xpeng stock has climbed 148.6% in the past three months through Friday, while Nio shares are up 86.4% and the S&P 500 SPX,
-1.93%
gained 13.6%.