China's EV Stocks Surge: NIO, LI, XPEV Deliveries Impress Investors

Nov 01, 2024

Electric vehicle stocks climbed with NIO (NIO, Financial), Li Auto (LI), and XPeng (XPEV) all seeing gains. NIO's stock saw a slight increase following the announcement of robust delivery numbers for October, posting a 30.5% year-over-year growth with 20,976 vehicles delivered. So far in 2024, NIO has delivered a total of 170,257 units, marking a 35.1% increase compared to the previous year.

Li Auto (LI) also experienced an uptick of over 1.6% in stock price after releasing their October delivery figures. The company delivered 51,443 new vehicles, a 27.3% increase from the previous year. Cumulatively, Li Auto has delivered 393,255 units in 2024, with a historical total reaching 1,026,619 vehicles.

XPeng (XPEV) saw the most significant rise among the trio, with its stock climbing more than 3.6%. The company set a new monthly record in October by delivering 23,917 smart electric vehicles, reflecting a 20% year-over-year increase and a 12% rise from the previous month.

Disclosures

I/We may personally own shares in some of the companies mentioned above. However, those positions are not material to either the company or to my/our portfolios.

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