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As this dark horse emerges in China’s EV race, Nio, Xpeng, and Li Auto report strong December sales.

by Ayush Bansal
January 2, 2022 - Updated On January 4, 2022
in Business, Electric Vehicles, Markets, News
Reading Time: 2 mins read
0
As this dark horse emerges in China’s EV race, Nio, Xpeng, and Li Auto report strong December sales.
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Nio (NIO), Xpeng Motors (XPEV) and Li Auto (LI) report strong December sales on Saturday, after a roaring November. Nio stock and its EV stock peers could return to form in 2022 if the China EV startups outpace sales targets for the final quarter of this year.

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Chinese electric vehicle and battery giant BYD (BYDDF) also will report December sales in the next few days. Warren Buffett-backed BYD is emerging as the dark horse in China’s EV race. BYD will look to top the 100,000-vehicle mark, after setting a sixth monthly EV sales record.

Why NIO, Li Auto, and Xpeng Stocks Are Down Today | The Motley Fool
Image: The Motley fool

Nio Stock, China EV Stocks

China’s electric vehicle stocks, as well as other Chinese stocks listed on the New York Stock Exchange, rose sharply on Thursday. On Friday, they were a bit of a mishmash.

On the stock market today, shares fell 2.3 percent to 31.98. After hitting a 14-month low on Wednesday, Nio stock soared nearly 15% on Thursday.

Xpeng stock rose 2.9 percent to 50.33, adding to its 10 percent gain above its 50-day line on Thursday. After gaining 8.6% on Thursday, Li Auto gained 0.5 percent. LI stock is also trading near its 50-day moving average. BYD, an over-the-counter stock, dropped 2.6 percent after rising 4.3 percent on Thursday.

Tesla fell 1.3 percent to 1,056.78 on Friday, retreating about 1% for the week. There was a handle buy point of 1,119.10 as a result of this.

China EV stocks slid in recent sessions, hurt largely by concerns over the potential delisting of China-based issues from the U.S. market. A new law would require foreign companies to open their books to U.S. review within a three-year window or face delisting.

Several other factors weighed on Nio stock and its peers this year. Those included the strides that traditional car giants are making in China’s hot EV market.

EV Sale in China

China accounts for about a quarter of all Tesla deliveries. Tesla is expected to report more than 280,000 deliveries worldwide in the fourth quarter, according to analysts.

XPeng took the top spot among the Chinese three in December and 2021, with 16,000 deliveries, a new monthly high. XPeng delivered 98,155 vehicles in total in 2021, a 263 percent increase over 2020.

In December, Li delivered 14,087 units. That’s also a monthly high for Li. Li delivered 90,491 vehicles in total in 2021, up 177 percent from 2020.

NIO didn’t set a new monthly record; instead, it came within a few hundred units of doing so. In December, the company delivered 10,489 vehicles. In November, NIO set a new monthly delivery record, shipping 10,878 units. In 2021, NIO delivered 91,429 vehicles over the year.

 

Tags: #Electric _VehiclesBusinessChinaLi AutoMarketNewsNioTesla
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