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XPeng Stock Jumps on Earnings. There’s Hope for China EVs.

XPeng Stock Jumps on Earnings. There’s Hope for China EVs.

XPeng stock rose Tuesday after the Chinese electric-vehicle maker reported better-than-expected first-quarter numbers. A year ago, XPeng reported a per-share loss of 38 cents on sales of $573 million. Quarterly gross profit margins were about 13%, up about 11 percentage points year over year and about two percentage points better than analysts’ forecasts.