Written by Cláudio Afonso | LinkedIn | X
Shares of Guangzhou-based electric vehicle (EV) maker XPeng closed 2.5% higher on Friday at $11.52, lifting its market capitalization to $10.86 billion and surpassing Nio.
The company led by Xiaopeng He now ranks as the third most valuable Chinese EV company listed in the U.S., following Li Auto ($26.2 billion) and Tesla ($799 billion) in a ranking that excludes non-U.S. listed companies such as BYD or Xiaomi.
The company’s share price has gained 52% over the past three months, as the EV maker registered a record number of deliveries in the last two months.
XPeng delivered 21,352 vehicles in September and 23,917 in October, a 20% increase from the previous year. The Mona M03, XPeng’s low-cost model, accounted for nearly half of October’s deliveries. Total deliveries for the year are up 21%, reaching 122,478 units.
Next week, on November 7, the company will officially launch P7+, its new flagship sedan. The pre-sale price of 209,800 yuan ($29,455) was announced at the Paris Auto Show in mid-October and the model secured over 30,000 pre-orders in the first 1 hour and 48 minutes.
Nio shares rose nearly 26% in the same period as it started deliveries in China of its first sub-brand Onvo. Firefly, the second sub-brand from the group, will be unveiled on December 21 with deliveries of the first model planned for next year.
The figure includes 4,319 deliveries from its new sub-brand, Onvo, and 16,657 from its main Nio brand. Last October, when the company had still no sub-brand, Nio’s deliveries totaled 16,074 units.
Onvo’s first model, the L60, launched in May, with deliveries starting in late September. After having forecasted 5,000 units for October, the company expects now to deliver 10,000 units in December and 20,000 by March next year.
The U.S. based EV makers Rivian and Lucid Motors closed Friday with a market cap of $10.26 billion and $5.10, respectively.
Written by Cláudio Afonso | LinkedIn | X
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