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Shares of Chinese EV makers Nio, XPeng, Li rise on deliveries data

Published 01/07/2024, 14:18
© Reuters.

© Reuters.

TSLA
3.06%
NIO
4.81%
LI
2.31%
XPEV
1.87%

Shares of Nio (NYSE:NIO) edged higher ahead of market open on Monday after the China-based electric vehicle (EV) maker, along with its peers, reported strong EV delivery data for June and the second quarter.

Nio announced it delivered 21,209 EVs in June, marking a 98.15% increase from the same period last year. This included 11,581 SUVs and 9,628 sedans.

For the second quarter, Nio's deliveries totaled 57,373 EVs, a 143.9% increase year-over-year.

Following this news, Nio's stock rose nearly 5% in premarket trading.

The positive delivery data also buoyed shares of other EV makers.

Li Auto (NASDAQ:LI) stock climbed 3.2%, and XPeng’s (XPEV) shares gained 1.5%.

Li Auto reported June deliveries of 47,774 EVs, up 46.7% from a year ago, and second-quarter deliveries of 108,581 EVs, up 25.5%. Meanwhile, XPeng (NYSE:XPEV) posted June deliveries of 10,668 EVs, a 24% increase from last year, and second-quarter deliveries of 30,207 EVs, up 30.2%.

Shares of EV giant Tesla (NASDAQ:TSLA) were also trading 1.6% higher, heading towards their longest winning streak in a year.

In contrast, U.S.-listed shares of BYD Co. were down around 1.4% in Shanghai after the company reported selling 341,658 new-energy vehicles in June, a 35% increase from a year ago. This total included 145,179 battery-electric vehicles, up 13.2%, and 195,032 plug-in hybrid electric vehicles, a 57.9% increase from last year.

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