Stock Alert: XPeng Trading 14% Higher

By RTTNews Staff Writer   ✉   | Published:

Shares of Chinese electric vehicle maker XPeng Inc. (XPEV) are rising more than 14% Tuesday morning on the news of it signed a strategic cooperation agreement with leading domestic banks to obtain a credit line of RMB12.8 billion.

Under the terms of the Agreement, five domestic commercial banks including the Agricultural Bank of China, the Bank of China, China Construction Bank, China CITIC Bank and Guangzhou Rural Commercial Bank will provide credit facilities to the company.

XPEV is currently at $50.83 and has traded in the range of $17.11- $74.49 in the last one year.

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