Xpeng shares the top when the Chinese electric car manufacturer teases a new SUV

Xpeng plans to launch a new sports car under its “G” line of cars on November 19. The company teased a picture of the car’s silhouette.

Xpeng Inc.

GUANGZHOU, China – Chinese electric car maker Xpeng teased a new sports car on Friday, with the launch scheduled for next week.

The car is probably the successor to Xpeng̵[ads1]7;s current SUV G3 and G3i. It will be launched at the Guangzhou Motor Show on November 19.

Xpeng shares rose above 10% in afternoon trading in Hong Kong.

The new car will add further competition to China’s already crowded electric car market.

Xpeng also currently sells two sedans – the flagship P7 and P5.

In October, Xpeng delivered 10,138 cars, of which 3,657 units were G3 and G3i SUVs, reaching a monthly record since the vehicle’s launch in December 2018.

The company said its cumulative deliveries have exceeded 100,000 by the end of October.

Xpeng faces competition from rival startup companies Li Auto and Nio, both of which have electric SUVs on the market, as well as Tesla’s Model X.

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