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NIO XPEV LI reports strong June deliveries as Covid subsides

NIO XPEV LI reports strong June deliveries as Covid subsides

Nio’s ES7 SUV adds another competitor to Tesla’s Model X and Model Y in China.

Nioz

Chinese electric vehicle manufacturer Nio delivered nearly 13,000 vehicles in June, up 60% from a year ago as China’s auto industry continued to recover after months of pandemic-related disruption.

The total deliveries of 12,961 were Nio’s best monthly result since its sale to the public in June 2018. But it wasn’t enough to outperform the company’s two main rivals. XPeng Motors delivered 15,295 vehicles to customers in June, up 133% from a year ago. Li Auto shipped 13,024 of its SUVs last month, up 69% from a year ago.

All three automakers have experienced occasional production shutdowns since the start of the Covid-19 pandemic. But Nio, based in Shanghai with factories in Hefei, was hit hardest by the most recent outbreaks. June was the first month with more than 10,000 deliveries since December last year.

Nio did not share any details on Friday about his efforts to restore production. But it said it will begin shipping its upcoming new ES7 SUV and revised versions of ES8, ES6 and EC6 SUVs in August.

XPeng, based in southern China near the city of Guangzhou, said it could resume two-shift production at its Zhaoqing plant in mid-May. The company Friday confirmed plans to launch a new flagship SUV, the G9, in September. It said pre-orders for the G9 will open in August.

Li Auto, based in Changzhou, unveiled its own new flagship, a large SUV called the L9, in June. The company, which earlier this week announced plans to raise $2 billion through an exchange offering, said Friday it expects to ship the L9 by the end of August.