GUANGZHOU, China — Chinese language electrical carmaker Xpeng teased a brand new sports activities utility automobile on Friday, with the launch scheduled for subsequent week.

The automotive is prone to be the successor to Xpeng’s present SUV the G3 and G3i. It will likely be launched on the Guangzhou auto present on Nov. 19.

Xpeng shares had been up over 10% in afternoon commerce in Hong Kong.

The brand new automotive will add additional competitors to China’s already crowded electrical automobile market.

Xpeng additionally at the moment sells two sedans — its flagship P7 and the P5.

In October, Xpeng delivered 10,138 vehicles, of which 3,657 models had been its G3 and G3i SUV, reaching a month-to-month report because the automobile’s launch in December 2018.

The corporate stated its cumulative deliveries have exceeded 100,000 as of the top of October.

Xpeng faces competitors from rival start-ups Li Auto and Nio, each of which have electrical SUVs in the marketplace, in addition to Tesla’s Mannequin X.