Benzinga | Sep 24, 2021 02:27PM EDT

Why Xpeng Shares Are Falling

Shares of several Chinese companies, including Xpeng Inc - ADR (NYSE:XPEV), are trading lower as investors continue to weigh the possible default of major China-based real estate company Evergrande Group.

Shares of some Chinese companies could also be trading lower amid continued regulatory concerns following proposed oversight of the gaming sector in Macau. Regulatory actions in the education and tech space have put pressure Chinese stocks this year.

XPeng Inc is a Smart Electric Vehicle company designing, developing, manufacturing and marketing smart electric vehicles in China. The company manufactures environmentally-friendly vehicles, namely an SUV (the G3) and a four-door sports sedan (the P7). Xpeng targets the mid-to-high-end segment in China's passenger vehicle market.

Xpeng has a 52-week high of $74.49 and a 52-week low of $17.11.