Bin Li, CEO of Chinese electric vehicle start-up NIO Inc., celebrates after ringing a bell when NIO shares begin trading on the New York Stock Exchange (NYSE) floor during the initial public offering (IPO) on the NYSE in New York, September 12, 2018.
Brendan McDermid | Reuters
BEIJING – Nio, the Chinese electric car startup, had a solid start to the year, even though it still has a long way to go to reach market leader Tesla.
The company said on Monday that it delivered 7,225 vehicles in January, more than four times the 1,598 cars delivered during the same month last year.
Last month’s figures also mark Nio’s sixth consecutive month of record deliveries, bringing the start-up’s cumulative deliveries to 82,866.
It took Nio about six years to reach that point, while Tesla delivered 180,570 cars in just the last three months of 2020.
New York-listed Nio shares have risen 17% in the year so far, just before Tesla’s 19% gain. Both stocks are outpacing the S&P 500 increase of around half a percent.
The shares of Xpeng, another Chinese electric car company listed in the United States, have risen 15% in the year so far.
Xpeng said on Monday it delivered 6,015 electric cars in January, a record month for consecutive deliveries. The company’s P7 sedan accounted for more than half of last month’s deliveries, for a total of 18,772, since its mass launch began in late June.