MSCI on Friday announced changes to the MSCI China All Ordinaries Index to include Chinese EV maker Xpeng Motors as a constituent of the MSCI China Standard Index and a constituent of the MSCI China Free Large Cap Index, which will be effective from September 11.

The move is expected to bring inflows of passive investment funds, such as ETFs, to the Alibaba-backed company.

Xpeng was listed on the New York Stock Exchange on August 27 under the symbol "XPEV".

Its American depositary shares jumped as much as 67% before closing 41% higher after the Guangzhou-based firm raised $1.5 billion in an initial public offering.

The company, with a market value of about $15 billion, expanded the size of its offering and priced the securities above a marketed range.

Prior to the IPO, Xpeng completed a $947 million C+ and C++ round of financing led by Alibaba, HillHouse Capital, and Sequoia China.

Xpeng's management currently holds a 40.9% stake in the company, with its largest shareholder, Chairman He Xiaopeng, holding 31.6%.

Alibaba is the largest institutional shareholder with a 14.4% stake. Other major shareholders include Xiaomi, GGV Capital, and Morningside Venture Capital.

Xpeng went up by 7.4 percent to trade at $22.79 by end of trading on Friday.