China’s homegrown electric-car makers show continued growing demand

4 Oct, 2020 10:33
source: Singularity Financial

Singularity Financial Hong Kong October 4, 2020 – The three U.S.-listed Chinese electric car upstarts — Nio Inc., Li Auto Inc. and Xpeng Inc. — all released September sales figures during the National Day holiday, with all three showing continued growing demand for new-energy vehicles (NEVs) following the Covid-19 pandemic.

New York Stock Exchange-listed Nio delivered 4,708 vehicles last month, up 133.2% year-on-year, setting a new monthly delivery record, marking seven months of consecutive year-on-year growth according to a statement released on Friday. The September figure brings Nio’s total deliveries during the third quarter of 2020 to 12,206 vehicles, representing a year-on-year increase of 154.3%.

Li Auto Inc. (“Li Auto” or the “Company”) (Nasdaq: LI) announced that the Company delivered 3,504 Li ONEs in September 2020. The Company’s vehicle deliveries in the third quarter of 2020 reached 8,660 units, representing a 31.1% quarter-over-quarter increase.

2020 Q1 202Q2 2020 Q3 2020 Q1 – Q3
Deliveries 2,896 6,604 8,660 18,160

As of September 30, 2020, the Company had 35 retail stores covering 30 cities. Looking ahead, the Company is confident to further expand its direct sales and servicing network nationwide.

XPeng achieved a record month of 3,478 Smart EV deliveries in September 2020, a 31% increase from August and a 145% increase year-over-year. The deliveries consisted of 2,573 P7s, the Company’s smart sports sedan, and 905 G3s, its compact smart SUV.

In the third quarter of 2020, XPeng delivered a total of 8,578 Smart EVs, consisting of 6,210 P7s and 2,368 G3s, representing an increase of 266% year-over-year.