The delivery of 10,000 or more electric vehicles every month in China, the world’s largest EV market, is always seen as a significant milestone. As we’ve entered December, Chinese EV companies released a report from their previous month’s achievements. And what a month it was! All three of the companies surpassed the 10k mark, and some of them set new benchmarks for future reference.
Xpeng Motors (NYSE:XPEV)
Let’s touch first on the most successful out of the three companies for this month – Xpeng. Amidst global supply issues and limited production, companies like BMW had to cut out touch screen functionality from its future models. Xpeng delivered 15,613 vehicles in November, which represents a 270% year-over-year increase. Half of the total number of sales belongs to the P7 sedan (7,839 units), making it still the most favored model. Combined with the last day in November, the company had sold a total of 82,155 from the beginning of 2021. That shows a 285% Y-o-Y increase. With increased sales, Xpeng has also been working on expanding its charging network. Up until this point, they’ve built 550 branded supercharging stations.
Li Auto Inc (NASDAQ:LI)
Li Auto also showed an immense improvement compared to its previous track record. With 13,485 deliveries of Li ONE in November, the company had a 190% year-over-year increase. What’s more interesting is that they only sell one model that belongs to the SUV class, unlike the other two that manufacture vehicles of different sizes.
“We set a new monthly record with over 13,000 deliveries of Li ONEs in November, making Li ONE the first domestic branded premium model priced above RMB300,000 in China to achieve the 10,000 monthly deliveries milestone. We are excited to see Li ONE emerge as one of the best choices for large SUV users and families in China. This impressive result reflects widespread user endorsement of our outstanding product features and performance, and we deeply appreciate our users’ recognition. Looking ahead, we will continue to create products and services that can delight our users and make ourselves proud,” -said Yanan Shen, co-founder and president of Li Auto.
This was a record month for Li Auto, beating the 9,400 vehicles delivered in August (previous record) by a mile.
Nio Inc (NYSE:NIO)
The third on our list, NIO, sold 10,878 vehicles in November, putting it at a 105% Y-o-Y growth. Out of that number, 4,713 units belong to NIO ES6, a five-seater smart electric SUV. This was a great recovery compared to October, where NIO sold only 3,667 units. Year-to-date in 2021, NIO has delivered 80,940 vehicles, a significant rise of 120% year-over-year. NIO has been perhaps the most innovative company out of the three, offering a social application for NIO users, styled clothing, and even food! Its stock, on the other hand, had a peak of $62 in February 2021, which almost halved in a matter of a month. The stock is currently trading at around $38.