BYD and XPeng shares rose on Monday as the two Chinese car makers prepare to take center stage at one of the world’s largest auto shows. They’ll be competing for attention with Tesla, which is making its first appearance at Munich, Germany’s IAA Mobility event in 10 years.
The Chinese start-up said Monday that it would enter the German market for the first time in 2024 with its P7 sports sedan and G9 SUV models. It is already present in four other European markets. XPeng stock rose 2.4% in Hong Kong on Monday. The company said Friday that it delivered 13,690 cars in August, compared with 11,008 in July.
BYD shares traded up 3.1% in Hong Kong on Monday. Last week it said its battery-electric vehicle sales in August were up 88% from the same period the prior year.
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