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Benzinga
Benzinga
World
Shanthi Rexaline

Tesla China Rivals See Shares Shoot Higher Amid Mixed October Deliveries: Are Investors Moving Past Xi Jinping Related Selloff?

Xi Jinping NIO NYSE Xpeng China Li Auto Li Auto Inc Nio Inc Xpeng Inc electric vehicle

Chinese electric vehicle startups Nio Inc. (NYSE:NIO), XPeng Inc. (NYSE:XPEV) and Li Auto Inc. (NASDAQ:LI) reported on Tuesday mixed deliveries for October. Nio specifically flagged production and supply chain challenges amid renewed COVID-19 outbreak.

What Happened: Nio’s October sales came in at 10,059 units. This marked a 174.3% year-over-year jump but a 7.53% month-over-month drop. Li Auto said it sold 10,052 vehicles in October, up 31.4% year-over-year but down about 12.83% from the 11,531 vehicles delivered in September.

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