Why XPeng Stock Is Rising Today

XPeng Inc. XPEV shares are trading higher Wednesday following recently robust vehicle delivery numbers from the industry.

What To Know: Several EV makers recently produced exceptional delivery results. Among the companies were Tesla, which had better-than-expected second quarter delivery numbers. Rivian and Nio were also part of the excitement, turning in strong delivery numbers as well.

The news had reaching effects into the lithium industry too, due to the fact that lithium is a critical element in EV batteries. The strong delivery numbers in EV stocks helped fuel a rise in lithium stocks on Monday.

Related Link: Tesla Model Y Outpaces 35-Year-Old Record For Car Sales In Iceland

XPEV Price Action: Shares of XPEV were up 5.79% at $14.79 at the time of publication, according to Benzinga Pro.

Image by (Joenomias) Menno de Jong from Pixabay