The Chinese EV start-ups, Nio Inc. (NYSE: NIO) and XPeng Inc. (NYSE: XPEV), reported stellar deliveries for June, sending their shares higher Thursday.
Nio Vs. XPeng – How June Growth Compares: Nio reported June deliveries of 8,083 vehicles, while peer XPeng June deliveries stood at 6,565 vehicles. The monthly numbers represented records for both companies.
Nio's deliveries increased 116.1% year-over-year, while XPeng's jumped 617%. The month-over-month increases for the EV makers were at 20.4% and 15.5%, respectively.
Nio sold 1,498 ES8s, 3,755 ES6s, and 2,830 EC6s during June, while XPeng's monthly numbers included 4,730 for its sports smart sedan P7 1,835 for smart compact SUV G3. Year-to-date, total deliveries reached 30,738 units, a 459% increase year-over-year.
XPeng noted that P7 deliveries were witnessing rising popularity among China's tech-savvy consumers. "The P7's Navigation Guided Pilot (NGP) highway solutions are attracting wide customer appeal, reinforcing the Company's commitment to technology innovation," the company said in the statement.
Related Link: Tesla, Nio Shares Diverge: What Does It Signal For The EV Companies?
Nio Vs. XPeng: How Q2 Compares to Guidance: Nio's quarterly number was at a record 21,896 units, which fell within the company's guidance range of 21,000-22,000. The company noted that Q2 marked the fifth straight year of quarter-over-quarter growth.
XPeng also reported record second-quarter deliveries of 17,398, which exceeded the guidance range of 15,500-16,000.
What Lies Ahead: Nio has expanded into Norway and is on track to sell its ES8s in the European nation. The company is also reportedly interested in a model catering to the mid-and low-end of the market. The much-envied ET7 sedan unveiled by Nio in January is likely to be commercially marketed in the first quarter of 2022.
XPeng said it plans to launch the G3i SUV, the new mid-phase facelift version of G3, in July 2021, with deliveries scheduled for September. The company also plans to launch its third production model, the P5 sedan, in the third quarter, with deliveries expected in the fourth quarter.
"Upon delivery, the P5 will be the world's first mass-produced Smart EV equipped with auto-grade LiDAR technology," the company said.
Price Action: In premarket trading, Nio shares were up 2.73% at $54.65, while XPeng gained 3.85% to $46.13.
Year-to-date period, Nio shares are up 9.2%, and XPeng has gained 3.7%.
Related Link: How Much A ,000 Nio Investment In 2019, When The EV Stock Was Emerging From Liquidity Crunch, Would Be Worth Today
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