Xpeng Jumps, Nio Falls on Mixed Fortunes for October EV Sales -Breaking
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© Reuters Investing.com – Xpeng stock (NYSE:) jumped 4.5% while Nio ADRs (NYSE:) fell 3.5% in Monday’s premarket, reflecting mixed fortunes in October at the two Chinese electric vehicle manufacturers.
Xpeng shipped 10,138 vehicles in October. This is a 233% rise year-over-year. The total number of vehicles delivered in October was 66 542, a 29% increase over the previous year.
However, it was different at Nio (a larger competitor), where supply chain problems hampered production. The reasons behind the drop in output were also cited as Xpeng’s larger market capital.
Nio delivered more than 3667 units, a drop of 27%. Cumulative deliveries from the three models produced by Nio reached 145 703 vehicles as of October 31.
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