Nio and Li Auto stocks surged, after the China-based EV makers reported deliveries that were well above estimates provided less than a week before
The U.S.-listed shares of Nio Inc. surged Tuesday, after the China-based electric vehicle maker reported fourth-quarter deliveries that rose well above the estimate that was provided less than a week before.
Li Auto Inc.’s stock LI also surged, after the Nio rival reported December deliveries that beat guidance provided just a day before, while Tesla Inc. shares TSLA dropped after disappointing delivery results. On Dec. 27, Nio had sparked a selloff in EV-maker stocks after the company said it was “prudently” cutting its delivery estimate due to COVID-related production challenges and supply chain issues. The company said then that it expected to report fourth-quarter deliveries of 38,500 to 39,500, which implied December deliveries of 14,263 to 15,263.Li Auto’s stock shot up 6.4% ahead of Tuesday’s open, after running up 4.7% on Friday.
XPeng Inc.’s U.S.-listed stock XPEV charged up 5.7% early Tuesday, after rising 5.9% the past two days, even though reported monthly and quarter deliveries fell sharply from a year ago.
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