EPeng’s stock is up after an almost six-fold increase in deliveries in January

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Shares of XPeng Inc. XPEV,
-3.95%
rose 4.6% in premarket trading on Monday, after the China-based electric vehicle manufacturer reported a nearly six-fold increase in deliveries in January. The company said overnight that it delivered 6,015 vehicles in January, up 470% from the same period a year ago, and marking the third straight month of record deliveries. Deliveries include 3,710 P7 smart sports sedans and 2,305 G3 smart compact SUVs. XPeng’s report comes as fellow China-based EV maker Nio Inc. NIO,
-2.35%
reported a 352% increase in deliveries in January to 7,225 vehicles. Shares of Xpeng are up 148.6% over the past three months to Friday, while Nio’s shares are up 86.4% and the S&P 500 SPX,
-1.93%
has gained 13.6%.

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