Bin Li, CEO of Chinese electric vehicle startup NIO Inc., will mark after ringing a bell as NIO stock begins trading on the New York Stock Exchange (NYSE) floor during the company’s initial public offering (IPO) at the NYSE in New York, September 12, 2018.
Brendan McDermid Reuters
BEIJING – Chinese electric car startup Nio is set to make a strong start to the year, even though it has a long way to go to catch up with Tesla market leader.
The company said Monday it delivered 7,225 vehicles in January, more than four times the 1,598 cars delivered in the same month last year.
Last month’s figures also mark Nio’s sixth straight month of high delivery, bringing the cumulative delivery of the starting point to 82,866.
It took Nio about six years to reach this point, and Tesla delivered 180,570 cars in the last three months of 2020 alone.
Nio shares in New York have climbed 17% for the year to date, just a 19% shy at Tesla. Both stocks perform better than an increase of around fifty S&P 500.
Shares of Xpeng, another Chinese electric car company registered in the US, are up 15% for the year to date.
Xpeng said Monday it will deliver 6,015 electric cars in January, a third-month delivery month. The company’s P7 sedan accounted for more than half of last month’s delivery for a total of 18,772 since the big release began in late June.