Shares of Chinese EV maker Xpeng Inc. rose 7.1% on Mar. 10, after announcing plans to mass-produce flying cars and industrial robots by 2026. The stock hit its highest level since August 2022 before slightly declining.

Year-to-date, shares have nearly doubled, outperforming a Bloomberg Intelligence index of global EV stocks, which have risen over 4% since January.

Market analysts attribute the surge to strong sales of Xpeng’s new EV models, driven by competitive pricing and advanced autonomous features.

The company also benefited from growing investor interest in tech firms amid Hong Kong’s AI-driven rally.

While the flying car and robot projects could boost sentiment, experts warn financial impacts may take time to materialize.

Recent Xpeng developments