Benzinga | Oct 25, 2021 12:46PM EDT

Why Xpeng Shares Are Rising

Xpeng Inc (NYSE:XPEV) shares are trading higher by 11.3% at $48.02. The company at its Tech Day event unveiled upgraded semi-autonomous driving features. EV stocks are also trading higher following Tesla Inc's (NASDAQ:TSLA) deal with Hertz.

Xpeng shares were also trading higher last week on continued strength following reports suggesting Nio said it would be able to double annual production capacity at its Hefei facility in 2022.

Xpeng is trading higher by 33% over the past month amid a rebound in Chinese companies following a September sell-off. Shares of several Chinese stocks are trading higher in October following the release of Chinese September trade data.

Xpeng has a 52-week high of $74.49 and a 52-week low of $18.50.