Shares of Nio Inc. and XPeng Inc. surged Tuesday, after the China-based electric vehicle makers reported strong growth in November deliveries, with Nio’s more than doubling and XPeng’s more than quadrupling.
bounced 2.2% in premarket trading, after falling 6.4% on Monday. XPeng shares
shot up 6.6% after dropping 8.6% the day before.
Nio said it delivered a record 5,291 vehicles in November, up 109.3% from a year ago.
The deliveries included 1,387 of Nio’s flagship 6-seater and 7-seater smart electric SUVs, the ES8; 2,386 of the 5-seater SUVs, the ES6; and 1,518 of the 5-seater coupe SUVs, the EC6.
So far this year, the company has delivered 36,721 EVs, which is 111.1% more than the same time last year.
Nio said it was in the process of accelerating the production capacity expansion in December.
XPeng reported November deliveries of 4,224 EVs, up 342% from the same period last year.
The deliveries included 2,732 P7 sports sedans and 1,492 G3 compact SUVs.
Year to date, XPeng has delivered 21,341 vehicles, up 87% from the same period last year.
Nio’s stock has soared 65.2% in November and XPeng shares have run up 203.2%, compared with a 2.7% monthly gain for the iShares MSCI China exchange-trade fund
and the S&P 500 index’s
For Nio, the stock has extended its monthly win streak to eight months, and has skyrocketed 1,717.6% during that streak.
XPeng shares went public on Aug. 27, closing that day at $21.22. They have climbed 176.9% since then through Monday.
Among other China-based EV makers, shares of Li Auto Inc.
jumped 9.6% in premarket trading Tuesday, after soaring 78.4% in November. The stock has recorded a monthly gain for each month since going public on July 30.
Meanwhile, Kandi Technologies Group Inc.’s stock
dropped 6.3% ahead of Tuesday’s open, after tumbling 28.3% on Monday following a negative report by short seller Hindenburg Research.
Don’t miss: Kandi stock plunges after short seller alleges ‘brazen scheme’ to falsify revenue.
Kandi’s stock still rallied 55.9% in November, and have more than doubled (up 106.3%) year to date.