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Why XPeng Stock Was Flying Higher on Monday

Shares of XPeng (NYSE: XPEV) were gaining altitude on Monday, surging as much as 12.2%, though they ended the trading day up 11.5%. The Chinese electric vehicle company plans to roll out a flying car that is also roadworthy, but it also made a few down-to-earth announcements. HT Aero, an affiliate backed by XPeng and its founder He Xiaopeng, showcased a flying car at XPeng’s annual Tech Day event on Sunday.