RTTNews | Nov 23, 2021 10:17AM EST

10:16 Tuesday, November 23, 2021 (RTTNews.com) - XPeng Inc. (XPEV) shares are gaining more than 11 percent on Tuesday morning trade after the company reported third-quarter revenue growth of 187.4 percent from the previous year. The Smart EV company reported third-quarter total revenue of RMB 5.719 billion or $887.7 million, compared to RMB 1.990 billion in the prior year.

Looking ahead, the company expects fourth-quarter revenues between RMB 7.1 billion and RMB 7.5 billion, up 149-163 percent growth from the previous year. The company project increase in deliveries of vehicles to be approximately 166.1 to 181.5 percent.

Currently, shares are at $52.62, up 11.03 percent from the previous close of $47.39 on a volume of 15,350,190. For the 52-week period, the shares have traded in a range of $22.73-$74.49 on average volume of 9,126,781.

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