Bin Li, CEO of Chinese electric vehicle start-up NIO Inc., celebrates after ringing the bell as NIO shares begin trading on the New York Stock Exchange (NYSE) floor during the initial public offering ( IPO) of the company on the NYSE in New York, September 12, 2018.
Brendan McDermid | Reuters
BEIJING: The launch of Chinese electric vehicles, Nio, has a solid start to the year, even if it has a long way to go to catch up with Tesla, the market leader.
The company said Monday it delivered 7,225 vehicles in January, more than four times the 1,598 vehicles delivered during the same month last year.
Last month’s figures also mark Nio’s sixth consecutive month of record deliveries, bringing the start-up’s cumulative deliveries to 82,866.
Nio has taken about six years to reach this point, while Tesla delivered 180,570 cars in the last three months of 2020 alone.
Nio’s New York-listed shares have risen 17% so far, only shy of Tesla’s 19% gain. Both shares outperform the S&P 500 by about half a percent.
Shares of Xpeng, another Chinese electric car company listed in the United States, have risen 15% so far.
Xpeng said Monday it delivered 6,015 electric cars in January, a third consecutive month of deliveries. The company’s P7 sedan accounted for more than half of last month’s deliveries for a total of 18,772 since the mass launch began in late June.