By Sam Boughedda
Investing.com — Nio Inc Class A ADR (NYSE:NIO), Li Auto Inc (NASDAQ:LI), and Xpeng Inc (NYSE:XPEV) shares are rallying Wednesday. The gains are because it's the start of a new month, which means electric vehicle companies are releasing their delivery reports.
Starting with NIO, the company delivered 10,878 vehicles in November, representing an increase of 105.6% year-over-year, and taking year-to-date deliveries to 80,940, a 120.4% year-over-year rise. The figure is also a big jump from the 3,667 deliveries in October. As a result, NIO shares jumped at the open, hitting a high of $40.78. They are currently up 1.5%.
Li Auto reported 13,485 deliveries during November, representing a 190.2% year-over-year increase and a rise from the 7,649 reported for October. As a result, total deliveries for the 11 months to November 30 hit 76,404. Like its counterpart NIO, Li shares have also rallied, hitting a high of $37.45 in early trading. They are currently up 2.8%.
While NIO and Li reported great numbers, XPeng outperformed both, with November vehicle deliveries reaching 15,613, a 270% increase year-over-year and well above the 10,138 reported in October. Year-to-date deliveries have now hit 82,155 year-to-date, a rise of 285%. However, despite the solid delivery performance, XPeng's share price has been unable to hold onto the gains it achieved at the open, with its stock currently down 1.5% after initially rising to $56.45.