By Dhirendra Tripathi
Investing.com – Xpeng (NYSE:XPEV) stock was up nearly 5% in Monday’s premarket trading after the company announced record deliveries of its electric vehicles in July.
Sales more than tripled as the Chinese automaker recorded its highest-ever monthly deliveries of 8,040 smart EVs, a 228% increase year-over-year. It was a 22% increase over June.
As of July 31, year-to-date total deliveries of the company reached 38,778 units, representing a 388% increase year-over-year.
Nio (NYSE:NIO) also more than doubled deliveries in July but fell short of Xpeng’s.
It delivered 7,931 vehicles in July, 125% year-over-year growth. As of July 31, cumulative deliveries of Nio EVs reached 125,528 vehicles, according to a company press release.
Nio ADR was trading 0.3% lower premarket.
The other Chinese player in the EV market, Li Auto (NASDAQ:LI), delivered 8,589 EVs, crossing the 8,000-vehicle milestone for the first time. Its deliveries were up 11% month over month. Total deliveries in 2021 reached 38,743 units.
Li Auto stock was trading 4% higher premarket.