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Nio, XPeng and Li Auto Rise on Growth in December Deliveries

Chinese electric-vehicle makers ended the year on a high note: Nio, XPeng and Li Auto reported record December deliveries.
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China electric-vehicle makers Nio  (NIO) - Get NIO Inc. American depositary shares each representing one Class A 蔚来汽车 Report, XPeng  (XPEV) - Get Altitude Acquisition Corp. Unit Report and Li Auto  (LI) - Get Li Auto Inc. Report were all higher after they reported growth in December deliveries. 

Nio shares at last check rose 5.2% to $51.26, XPeng shares rose 7.6% to $46.10 and Li Auto gained 5.3% to $30.36. 

Nio reported record monthly and quarterly deliveries. December deliveries well more than doubled year over year to 7,007. Fourth-quarter deliveries also doubled, to 17,353. For all of 2020, the company delivered 43,728 vehicles, more than double the 2019 level.

Chief Executive William Bin Li cited "growing recognition of our premium brand, the competitive and compelling products and services, the expanding sales network, and most importantly, the continuous support from our passionate and loyal user community."

XPeng reported 5,700 vehicle deliveries in December, quadruple the year-earlier figure. In the quarter deliveries quadrupled to 12,964 vehicles. For the year, XPeng delivered 27,041 vehicles in 2020, a doubling from a year earlier. 

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The company attributed its record December and fourth-quarter delivery results to its increasing brand awareness, expanded sales, marketing and supercharging service initiatives across China. 

Li Auto delivered 6,126 vehicles in December, up by more than a factor of six year over year, and 14,464 vehicles in the fourth quarter. 

"Heading into 2021, we are seeing a major inflection of EV demand globally with our expectations that EV vehicles ramp from about 3% of total auto sales today to 10% by 2025," Wedbush analyst Dan Ives said in a note Monday.

"[This] demand dynamic as evidenced by this weekend's delivery numbers will disproportionately benefit the clear EV category leader, Tesla  (TSLA) - Get Tesla Inc. Report, over the next few years."

Tesla shares at last check were 2% higher at $719.68.