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Chinese EV maker Xpeng shares jump 54% in NYSE debut

An XPeng Inc. P7 performance electric car is seen outside the New York Stock Exchange (NYSE) ahead of the Chinese company's IPO trading under the stock symbol "XPEV" in New York, U.S., August 27, 2020. REUTERS/Mike Segar

(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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