Xpeng

EV buyers in Israel currently enjoy a 20 percent purchase tax, well below the 83 percent for regular gasoline vehicles.

Never before has any Xpeng model been so popular, said a store employee, according to a local media report.

As of July 5, Xpeng's US-traded ADR was up about 75 percent cumulatively since June 9, when the G6 began pre-sales.

Xpeng delivered 8,620 vehicles in June, up 14.84 percent from May and the fifth straight month of sequential growth. First deliveries of the G6 will begin later this month.

Xpeng's Hong Kong-traded shares rose more than 14 percent to HK$51.80 at press time, giving it a 30 percent gain for the week.

The G6 is expected to be the top-selling smart electric SUV in China in the RMB 250,000 price level within two months, said Xpeng's CEO.

Xpeng's US-traded ADRs closed up 7.29 percent to $11.78 yesterday, giving it an 18.99 percent gain for the week.

Right-hand drive is a large segment of the overall EV market, and Xpeng is determined to build itself into a strong global EV company, the South China Morning Post quoted Xpeng's president as saying.

This will start with the all-electric Xpeng P7 sedan, with European deliveries set to begin this summer.

Midea's automotive parts division, Welling, will provide thermal management products, including electric compressors, for the entire Xpeng model line.