Shares of Chinese electric vehicle makers Nio (NIO) - Get NIO Inc. (China) Report, Li Auto (LI) - Get Li Auto Report and XPeng (XPEV) - Get Xpeng Inc Report rose Friday after they posted their September and third-quarter delivery figures.
Apparently the global semiconductor shortage isn’t hurting all auto makers.
Nio delivered 10,628 vehicles in September, doubling from the year- earlier month. Full-third-quarter deliveries also doubled -- to 24,439 vehicles. That topped Nio’s forecast of 23,000 vehicle deliveries.
XPeng delivered a record 10,412 vehicles in September, topping its previous best by more than 2,000 cars.
For the third quarter as a whole, XPeng tripled deliveries to almost 26,000 vehicles from a year earlier. It had forecast deliveries of 22,000 for the quarter.
Li delivered 7,094 vehicles in September, doubling from a year earlier. And it delivered 25,116 vehicles for the full third quarter, almost tripling (up 190%). Li had estimated 25,000 to 26,000 for the quarter.
Nio recently traded at $35.80, up 0.5%; XPeng at $35.68, up 0.4%; and Li at $26.61, up 1.2%.
Last month, Nio said it would offer $2 billion of its American depositary shares through an at-the-market offering.
Unlike an IPO, in which all shares are sold at a single price, an at-the-market offering allows a company to sell shares as needed at the then-prevailing market price.
The Shanghai-based electric vehicle maker said it would use the funds to fortify its balance sheet and for general purposes.
In August, Nio posted better-than-expected second-quarter earnings, as it reported a jump in revenue and raised its guidance. Nio registered a net loss of 7 cents a share.