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The ES8 electric SUV
Nio Inc.
Shares of Nio Inc. and XPeng Inc. surged on Tuesday, after Chinese-based electric vehicle makers reported strong growth in November shipments, with Nio more than doubling and XPeng more than quadrupling.
Nio stock NIO,
rebounded 2.2% in pre-release, after declining 6.4% on Monday. XPeng shares XPEV,
climbed 6.6% after falling 8.6% the day before.
Nio said it delivered a record 5,291 vehicles in November, up 109.3% from a year ago.
Deliveries included 1,387 of Nio’s flagship 6-passenger and 7-passenger smart electric SUVs, the ES8; 2,386 of the 5-seater SUV, the ES6; and 1,518 5-seater coupe SUVs, the EC6.
So far this year, the company has delivered 36,721 electric vehicles, up 111.1 percent from the same period last year.
Nio said he was ramping up the expansion of production capacity in December.
XPeng reported deliveries of 4,224 electric vehicles in November, up 342 percent from the same period last year.
Deliveries included 2,732 P7 sport sedans and 1,492 G3 compact SUVs.
The G3 electric SUV
XPeng Inc.
Since the start of the year, XPeng has delivered 21,341 vehicles, up 87% from the same period last year.
Shares of Nio climbed 65.2% in November, and shares of XPeng rose 203.2%, compared with a 2.7% monthly gain for the iShares MSCI China MCHI exchange-trade fund,
and the SPX of the S&P 500 index,
Increase of 10.8%.
For Nio, the action extended his monthly winning streak to eight months and soared 1,717.6% during that streak.
XPeng’s shares went public on August 27, closing that day at $ 21.22. They have climbed 176.9% since then until Monday.
Among other EV manufacturers based in China, shares of Li Auto Inc. LI,
jumped 9.6% in pre-market trade on Tuesday, after climbing 78.4% in November. The stock has posted a monthly gain for every month since its IPO on July 30.
Meanwhile, the KNDI share of Kandi Technologies Group Inc.,
fell 6.3% before Tuesday’s open, after falling 28.3% on Monday following a negative report from short seller Hindenburg Research.
Don’t miss: Kandi’s stock plunges after short seller alleges “shameless ploy” to falsify income.
Kandi’s stock rose another 55.9% in November and more than doubled (up 106.3%) since the start of the year.
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