Nio, XPeng And Li Auto Lifted The EV Market's Spirits With Their June Deliveries
On Monday, Nio Inc (NYSE:NIO) , XPeng Inc (NYSE:XPEV) and Li Auto (NASDAQ:LI) shared their EV delivery figures for June. Moreover, Nio reported its second straight month of record deliveries. The good news pulled shares of even other EV makers up, including the EV king, Tesla Inc (NASDAQ:TSLA). Tesla is yet to reveal its second quarter deliveries on Tuesday, but shares rose ahead of the report.
Nio Posts New Records
In June, the Chinese EV maker reported it delivered 21,209 vehicles which is almost double compared to last June’s figure, along with being a record high after May’s 20,544. Looking at the total, Nio sold 11,581 SUVs and 9,628 sedans. In addition, Nio also issued its second quarter deliveries that were also a record. For the quarter neded on June 30th, Nio posted record deliveries of 57,373 EVs, which translated to a 144% YoY increase that topped its own guidance. As of the end of June, Nio has cumulatively delivered 537,020 vehicles.
XPeng Is Maintaining Its Impressive Streak
In June, XPeng delivered 10,688 vehicles that translates to a 24% YoY rise. The deliveries of X9 reached 1,687 vehicles, bringing the cumulative total 13,143 units within the six months of its launch.
During the first half of the year, XPeng delivered 52,028 smart EVs, marking a 26% boost on a YoY basis. Besides the delivery figures, XPeng also announce a major upgrade to its AI-powered car operating system that is lsated for release in the third quarter.
Rebounding Li Auto Is Approaching Its All-Time High
In June, Li Auto delivered 47,774 vehicles which is right behind its December’s record of 50,353 EVs. This figure translates to 46.7% YoY growth, increasing 36.4% on a consecutive month-over-month basis. Li Auto seems to be on the right track to rebound after a weak first quarter with its commitment to enhance its operational efficiency and create incremental value to its customers.
With the above delivery figures, Chinese EV makers provided a good signal for the all-electric auto universe, which bodes well even for Tesla, and any other EV maker. Back in January, Tesla warned of expecting a notably lower growth in this year’s deliveries, but its Chinese rivals certainly lifted the industry’s spirit with their June figures.
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