Investing.com – Xpeng stock (NYSE:XPEV) jumped 4.5% while Nio ADRs (NYSE:NIO) fell 3.5% in Monday’s premarket, reflecting mixed fortunes in October at the two Chinese electric vehicle manufacturers.
Xpeng delivered 10,138 vehicles in October, a 233% increase year-over-year. As of October 31, year-to-date total vehicle deliveries reached 66,542, a 289% jump.
It was a different story at larger rival Nio, where supply chain challenges held back production. The company, which has a larger market cap than Xpeng, also cited upgrades of manufacturing lines and the preparation of new launches as reasons for the fall in output.
Deliveries at Nio slumped more than 27% to 3,667 units. As of October 31, cumulative deliveries of the three models it produces reached 145,703 vehicles.