XPeng Inc. ( XPEV ) is seeing its shares rise in the premarket session on Friday.

The firm reported impressive sales during the typically slow start of the year for China's auto market.

The electric vehicle maker defied expectations with a 7.6-fold increase in order intake during the first week after the Chinese Spring Festival, compared to the same period in 2024, CnEV Post reports.

This is a significant turnaround as February is traditionally a low sales month due to holiday disruptions.

XPeng's ( XPEV ) strong performance is largely driven by the success of two new models, including the Mona M03, which has surpassed 60,000 units in deliveries as of mid-January, surpassing expectations for the typically slow month, CnEV Post adds.

According to Benzinga Pro, XPEV stock has gained over 77% in the past year. Investors can gain exposure to the stock via VanEck Low Carbon Energy ETF ( SMOG ) .

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Last month, the company also shared exciting news about its expansion, revealing plans to open a new headquarters in Guangzhou this August.

This move will support the company's aggressive hiring strategy, with plans to expand its workforce by thousands in the coming year.

XPeng ( XPEV ) is also expanding its footprint in other cities, signaling its ambition to continue growing. These developments, combined with strong sales and a successful product lineup, have positioned XPeng ( XPEV ) as a key player in the electric vehicle market as it continues to outperform industry norms.

Price Action: XPEV shares are trading higher by 3.89% to $16.58 premarket at last check Friday.

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