Promising monthly EV deliveries from the Chinese companies

The competition on the electric car market is getting more challenging by the quarter, according to the latest figures

Nio, the Chinese US-listed electric car start-up, announced it delivered 7,931 vehicles in July, reaching a year-to-date total of 49,887, more than all of last year. However, the July figures fell from the monthly record set in June 2021 – 8,083 vehicles deliveries. So far this year, Nio has delivered more than 10,000 cars than Li Auto and Xpeng.

On the other hand, the US-listed Li Auto surpassed Nio’s July numbers, with figures coming in at 8,589. The Li-One SUV is the company’s only model on the market. On a YTD basis through July, 38,743 vehicles were delivered. Moreover, Li Auto shares have performed the best this year, gaining 15.8%.

Following suit was Xpeng, with a monthly record of 8,040 vehicles, 75% of the number representing its P7 sedan. Overall, the company delivered 38,778 cars.

Now eyes are on Nio’s next earnings report on August 11, as investors await second-quarter results.

Source: cnbc.com