Chinese electric carmakers Nio and Xpeng posted deliveries drop in January versus Dec. but were still higher compared to a prior year, according to a report by CNBC on Tuesday.
- Xpeng stated it delivered 12,922 electric vehicles in January, a more than a 19% decrease from December. But still represents a 115% year-on-year increase.
- As of January 31, Xpeng stated total deliveries of its electric cars, the P7, P5, G3, and G3i, topping 150,000 units.
- Rival Nio stated it posted 9,652 vehicles in January, increasing 33.6% year-on-year but is lower than December’s figure of 10,489.
- Both Nio and Xpeng have been struggling with the global chip shortage, which continues to hurt the auto industry. In July, Xpeng CEO He Xiaopeng stated that the global chip shortage remains the biggest production problem for the company.
Xpeng and Nio have been investing in expanding production at their factories and expanding overseas. XPEV up +3.73%, NIO up +1.39%, pre-market trading