XPeng Inc. (XPeng (XPEV)) shares edged higher on Friday after the company's X9 minivan stole the show at the El Prix Summer 2026 event, Europe's largest electric vehicle test. The X9 didn't just participate—it dominated, posting the best range and fastest charging time among 24 EVs tested.
The X9 covered 646 kilometers on a single charge, beating its official WLTP range by 11.4%. The Norwegian Automobile Federation, which runs the test, said the seven-seater "clearly stood out." And if you're in a hurry, the X9 can go from empty to 80% charge in just 12 minutes and 55 seconds—the fastest of any EV tested. That follows its impressive performance in the winter test, where it charged from 10% to 80% in 12 minutes at -10°C.
Europe's charging infrastructure, which tops out at 400 kW, doesn't fully unlock the X9's potential, but XPeng says the results still put it in a league of its own. "Recording the largest WLTP range deviation and the fastest charging time is strong validation of the technology behind the XPENG X9," said Alex Tang, General Manager of International Business at XPeng. "Customers should not have to choose between long range and fast charging. The X9 delivers both, helping drivers spend more time on the road and less time waiting at a charger."
The X9 is part of XPeng's 2026 European rollout, with Norway as the first market. It's a big bet: a seven-seat premium EV that combines long range, ultra-fast charging, and family-friendly space. If the test results are any indication, the bet might pay off.
But the good news on the test track comes against a tougher backdrop in the financials. XPeng recently reported first-quarter results that missed expectations. Revenue fell 17.6% year over year to 13.03 billion yuan, and deliveries dropped 33.3% to 62,682 vehicles. The operating loss widened to 1.87 billion yuan, though gross margin improved to 20.6%, helped by cost cuts and a better product mix. For the second quarter, XPeng expects deliveries of 100,000 to 106,000 vehicles and revenue between 19.6 billion and 20.8 billion yuan—both below analyst estimates.
Investors are also watching passive fund flows. XPeng is a significant holding in two notable ETFs: the SPDR S&P Kensho Smart Mobility ETF (HAIL), where it has a 2.69% weight, and the Direxion Daily Electric and Autonomous Vehicles Bull 2X Shares (EVAV), where it's 4.19%. Any big inflows or outflows from these funds could trigger automatic buying or selling of XPEV shares, adding another layer of volatility.
As of Friday's close, XPeng shares were up 0.80% at $14.57, still hovering near their 52-week low of $13.98. The X9's test victory is a nice headline, but the real story is whether XPeng can turn that momentum into sales—and profits.
