Nio deliveries in January quadruple from a 12 months in the past, signaling a powerful begin to 2021

Bin Li, CEO of Chinese language electrical automobile start-up NIO Inc., celebrates after ringing a bell as NIO inventory begins buying and selling on the ground of the New York Inventory Trade (NYSE) in the course of the firm’s preliminary public providing (IPO) on the NYSE in New York, September 12, 2018.

Brendan McDermid | Reuters

BEIJING — Chinese language electrical automotive start-up Nio is off to a stable begin for the 12 months, even when it has an extended strategy to go to meet up with market chief Tesla.

The corporate mentioned Monday it delivered 7,225 autos in January, greater than 4 instances the 1,598 vehicles delivered throughout the identical month final 12 months. 

Final month’s figures additionally mark Nio’s sixth-straight month of document excessive deliveries, bringing the start-up’s cumulative deliveries to 82,866. 

It is taken Nio about six years to achieve this level, whereas Tesla delivered 180,570 vehicles within the final three months of 2020 alone. 

Nio’s New York-listed shares have climbed 17% for the 12 months to this point, simply shy of Tesla’s 19% acquire. Each shares are outperforming the S&P 500’s roughly half-percent rise. 

Shares of Xpeng, one other U.S.-listed Chinese language electrical automotive firm, are up 15% for the 12 months to this point.

Xpeng mentioned Monday it delivered 6,015 electrical vehicles in January, a third-straight document month of deliveries. The corporate’s P7 sedan accounted for greater than half of final month’s deliveries for a complete of 18,772 since its mass rollout started in late June. 

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