Tesla’s Chinese Rivals XPeng, Li Auto Deliver Big While Nio Misses

Tesla’s rivals in China released their October delivery numbers on Monday to some fanfare and disappointment as XPeng (XPEV) and Li Auto (LI) showed significant growth for the month while Nio (NIO) struggled due to supply chain constraints.

XPeng announced a strong month with over 10,000 units delivered, citing a 233% increase year-over-year and the second month that it reached over the 10,000 deliveries despite a semiconductor chip shortage.

Deliveries for XPeng broke down into 6,044 P7 sedans, up 187% year-over-year, and 3,657 G3 and G3i SUVs – a new record for the electric automaker. The P5 sedan, which launched in September, delivered 437 units and, according to XPeng, has a “solid order backlog.”

For the year to date, deliveries reached 66,542, up 289% compared to a year earlier.

Li Auto also fared well as the automaker reported a 107.2% increase in vehicle deliveries for the month of October.

Li said it delivered 7,649 of its Li Ones for the month and 62,919 units for the year. Cumulatively, the company has delivered 96,516 Li One vehicles.

“It took us 708 days to reach the production milestone of 100,000 Li Ones,” Yanan Shen, co-founder and president of Li Auto, said in a statement.

While Li and Xpeng thrived in October, Nio was hit with challenges for the month and saw its deliveries decrease 27.5% year-over-year.

The Chinese automaker delivered 3,667 vehicles in October, saying that it was “significantly impacted by reduction in production volume as a result of the restructuring and upgrades of manufacturing lines and the preparation of new products introduction from Sept. 28 to Oct. 15, as well as certain supply chain volatilities.”

Nio resumed its ES8 production at the end of October and delivered 218 units of the SUV for the month. Another 2,528 ES6 SUVs were also delivered, along with 912 units of the coup EC6 SUVs. Cumulative deliveries were 145,703.

Nio went on to say that despite some struggles, its new orders reached another “all-time high” in the month, which was driven by increased customer demand.

As of Monday at 10:54 a.m. ET, shares of Xpeng were trading at $48.04, up $1.40 or 3.01%, while shares of Li Auto were trading at $32.86, up 23 cents or 0.70% at the same time. Shares of Nio were trading at $40.03, up 62 cents or 1.56%, also at the same time.