Bin Li, CEO of Chinese electric vehicle start-up NIO Inc., celebrates after ringing a bell that NIO shares are starting to trade on the floor of the New York Stock Exchange (NYSE) during the initial public offering (IPO) of the company at the NYSE in New York, September 12, 2018.
Brendan McDermid | Reuters
BEIJING – Chinese electric car start-up Nio has a solid start for the year, even though it still has a long way to go to catch up with market leader Tesla.
The company said on 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 numbers also mark Nio’s sixth consecutive month of record-high deliveries, bringing the start-up’s cumulative deliveries to 82,866.
It has taken Nio about six years to reach this point, while Tesla delivered 180,570 cars in the last three months of 2020 alone.
New York-listed shares of Nio are up 17% so far this year, just behind Tesla’s 19% gain. Both stocks outperform the S&P 500’s rise of about half a percent.
Shares of Xpeng, another US-listed Chinese electric car company, are up 15% so far.
Xpeng said Monday it delivered 6,015 electric cars in January, a third consecutive record month of deliveries. The company’s P7 sedan accounted for more than half of last month’s deliveries, totaling 18,772 since its massive rollout in late June.