Chinese EV maker Xpeng shares jump 54% in NYSE debut

An XPeng Inc. P7 performance electric car outside the New York Stock Exchange (NYSE) ahead of the Chinese company's IPO in New York

(Reuters) – Chinese electric vehicle maker Xpeng Inc’s shares jumped 54% in their debut on the New York Stock Exchange on Thursday, after raising $1.5 billion in its upsized initial public offering.

Shares of Xpeng, which counts Chinese e-commerce titan Alibaba and Xiaomi Corp among its backers, opened at $23.10 per American Depositary Share (ADS), up from the raised offer price of $15 per ADS.

(Reporting by Niket Nishant in Bengaluru; Editing by Shounak Dasgupta)

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