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The Xpeng P7 electrical conveyance is displayed extracurricular the New York Stock Exchange
Jeenah Moon/BloombergChinese electrical conveyance shaper XPeng reported a caller monthly grounds for deliveries. It’s different motion EV request successful China remains hot.
XPeng (ticker: XPEV) delivered 8,040 vehicles successful July, up 228% twelvemonth implicit twelvemonth and up from the 6.565 vehicles delivered successful June. So acold successful 2021, XPeng has delivered astir 39,000 vehicles.
Earlier Sunday, XPeng adjacent Li Auto (LI) reported its ain caller monthly grounds with 8,589 conveyance deliveries successful July. Both results constituent to beardown request for EVs successful China, and show that the worst of the planetary semiconductor shortage that constrained automotive accumulation successful 2021 is fading.
XPeng, for instance, delivered conscionable 2,223 vehicles successful February, and conscionable 5,696 successful May. June deliveries were a record—until July—and achieving 8,000-plus deliveries successful a period is different beardown information constituent for XPeng arsenic good arsenic the Chinese EV industry.
It’s a bully number, but calling the banal absorption Monday is hard, adjacent with XPEng banal up 1.1% successful precocious Sunday trading. XPeng banal opened higher connected July 1 aft reporting June numbers, but inactive closed down 1.6% connected the day.
XPeng banal is down astir 5% twelvemonth to date, trailing the S&P 500 ‘s 17% emergence and the Dow Jones Industrial Average ‘s14% advance.
Shares person been connected a chaotic thrust lately. XPeng banal is up astir 36% implicit the past 3 months arsenic capitalist sentiment has improved on with conveyance deliveries. Li stock, for instance, is up 69% implicit the past 3 months.
NIO (NIO) has lagged its peers implicit the past 3 months with conscionable a 12% gain. NIO volition study deliveries implicit the coming days. It is the largest of the 3 companies by deliveries and by marketplace capitalization. It acceptable a monthly grounds successful June with 8,083 deliveries.
Tesla (TSLA) is besides a ample subordinate successful the Chinese EV market, but it doesn’t study monthly income by country, leaving analysts and investors waiting for manufacture information connected accumulation and car registrations.
But beardown Chinese deliveries from its peers usually bode good for Tesla too.
Write to allen.root@dowjones.com
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