NIO Inc (NYSE:NIO) shares are trading lower Monday in sympathy with XPeng Inc (NYSE:XPEV), which reported its unaudited first-quarter financial results this morning.
- XPEV Revenue: $1.18 billion beat estimate of $1.09 billion.
- XPEV EPS: $0.28 in line with estimates.
XPeng said it delivered 34,561 vehicles in the first quarter, representing an increase of 159% year-over-year, but the company guided for slowing deliveries quarter-over-quarter.
XPeng said it expects second-quarter vehicle deliveries to be between 31,000 and 34,000. Second-quarter revenue is expected to be between $1.02 billion and $1.13 billion.
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Nio operates in China's premium electric vehicle market. The company designs, manufactures and sells smart and connected premium electric vehicles, driving innovations in next-generation technologies in connectivity, autonomous driving and artificial intelligence.
NIO Price Action: Nio has traded between $11.67 and $55.13 over a 52-week period.
The stock was down 6.09% at $16.44 at press time, according to data from Benzinga Pro.
Photo: courtesy of Nio.