Chinese EV company Xpeng sees shares pop 6% after it launches mass-market car

Key Points

Xpeng shares rose after the Chinese electric car company said prices for its new mass-market Mona brand would start as low as $16,812, far below that of Tesla’s Model 3.
The Chinese automaker said orders for the Mona M03 electric coupe exceeded 10,000 just 52 minutes after the car’s formal launch Tuesday evening in Beijing.
Xpeng shares remain more than 45% lower for the year so far.

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