Xpeng Stock Jumps on Plans to Create Humanoid Robots and Flying Cars

The company’s stock increased after the chairman announced that Xpeng Inc. intends to begin mass production of its flying car model and industrial robots by 2026.

Before reversing part of the gains, the Hong Kong-listed shares of the electric car manufacturer rose as much as 7.1% on Monday, momentarily reaching their highest level since August 2022. According to a Bloomberg Intelligence measure of global electric vehicle equities, the stock has more than quadrupled this year and outperformed all its rivals. It has increased by more than 4% since the beginning of January.

Companies manufacturing high-tech goods are attracting more attention as investors search for businesses to capitalize on Hong Kong’s AI-driven stock market boom. Strong order momentum for Xpeng’s new battery EV vehicles, which are priced competitively and include autonomous driving capabilities, has further increased interest in the company.

Steven Leung, executive director at UOB Kay Hian Hong Kong Limited, said, “Xpeng shares have gotten a lift this year from its improving monthly sales figures, demonstrating to investors that its product strategy is working well despite intense competition.” Although the company’s recent developments may improve attitude toward flying automobiles and humanoid robots, “it’s still distant for those projects to translate into earnings contributions.”