electric vehicle company xpeng incs hong konglisted shares are sharply higher friday after the company announced the launch of its new g6 sports utility vehicle the car makers shares are up 12 at 5090 hong kong dollars us649 at midday in hong kong the price of the g6 which is seen as a rival to teslas model y will start at cny209900 well below model ys starting price of around cny263900 in a note citi analysts call the pricing attractive and xpengs announcement should be read by traders as being neutral to slightly positive the us investment bank estimates that the g6 model could bring in monthly sales of around 10000 units as the pricing strategy for the model could attract customers who want an entrylevel midsized electric suv but who cant afford higherpriced models however the bank maintains a sell rating and target price of us628 on the car makers uslisted shares as the analysts think the company will continue to face serious challenges in 2023 and beyond due to its poor sales performance recently the shares last closed at u1183