June 13, 2024

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Chinese EV startups Xpeng, Li Auto deliver record cars in October

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Xpeng reveals its G6 SUV at a major auto show in Shanghai on April 18, 2023.

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BEIJING — Chinese electric car companies Xpeng and Li Auto each delivered a record number of cars in October, according to company releases late Wednesday.

Xpeng said it delivered 20,002 cars last month. That’s a marked pickup from lackluster figures earlier in the year. Just under half of deliveries in October were of Xpeng’s G6 coupe SUV, launched in late June.

The G6 sells in the roughly the 200,000 yuan 250,000 yuan ($27,340 to $34,170) price range, while Li Auto’s SUVs sell for more than 300,000 yuan.

Li Auto’s monthly deliveries remained far ahead of its immediate peers at 40,422 cars in October. The company’s currently available cars are not purely battery-powered since they come with a fuel tank for extending the battery’s driving range.

Nio said it delivered 16,074 cars in October, up slightly from the prior month but below the 20,462 vehicle deliveries reported for July.

All three companies are listed in the U.S. and saw shares rise overnight. Xpeng climbed the most, up by 7%.

Other Chinese electric car brands also saw deliveries tick higher in October, amid stiff competition.

Geely’s electric car brand Zeekr said it delivered a record 13,077 cars last month. Zeekr on Friday revealed an ultra-fast model, the 001 FR, which rivals Tesla’s Model S Plaid in specs — at a lower price.

Aito, the Huawei-backed new energy vehicle brand, claimed 12,700 deliveries for last month.

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EV stock performance YTD

Aion, an electric car brand from state-owned GAC Motor, said it sold 41,503 vehicles in October.

BYD remained by far the giant in the market. The company said it sold 165,505 pure battery-powered passenger cars in October, and nearly just as many hybrid-powered vehicles.

Telsa figures for October were not yet available as of Thursday morning. Previously released industry data had indicated a decline in sales in China from…



2023-11-01 23:20:00

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