Nio Inc. (NYSE: NIO), a pioneer in the premium small-electric-car market, recently saw its shares jump by 20%. A significant increase in vehicle deliveries in April was the catalyst, with shares listed on the Hong Kong market reaching 44.20 Hong Kong dollars. This represents a 23% rise and is its highest level in more than six weeks.
The increase also bolstered the Hang Seng index, which rose 2% by midday trading.
In its statement, Nio revealed that it delivered 15,620 cars last month. This represents a more than 134% year-on-year increase. Nio added that the deliveries comprised of 6,803 and 8,817 premium smart electric sedans and SUVs respectively.
Thus far, the multinational automobile manufacturer has delivered 45,673 vehicles to consumers. This figure is more than 21% higher than the total number of vehicles delivered during the same period in 2023. In addition to increasing vehicle delivery, the automaker has also been entering into more battery swap partnerships, with the objective of gaining an edge on the infrastructure side of the electric-vehicle ecosystem. Its efforts are focused on relieving any anxiety consumers may have regarding driving range.
Other electric car manufacturers in China, such as BYD Company Limited (OTC: BYDDF), Xpeng Inc. (NYSE: XPEV) and Li Auto Inc.(NASDAQ: LI), are also reporting vehicle deliveries for last month. Of the three, only Li Auto reported a decline in deliveries, with about 25,700 vehicles being shipped to consumers. This figure represents an 11% drop compared to figures announced in March. Despite this decrease, the company’s shares listed on the Hong Kong market were 3% higher.
On the other hand, BYD’s electric car sales volume rose by more than 3.5% to hit 313,245 last month. Its shares also jumped 5% on the Hong Kong market.
In its report, Xpeng announced that almost 9,400 electric cars were delivered last month, representing a 4% increase from March’s figures. The company’s shares listed on the Hong Kong market rose 7.5% during this period.
In other news, electric car manufacturers in China are currently engaged in a price war with Tesla Inc. (NASDAQ: TSLA) as competition grows in China. Across the board, major automakers have been slashing prices at a time when local electric-car manufacturers are trying to outsell the American company with competitive pricing and fancy technology.
The U.S. automaker recently slashed the starting price of its Model 3 in major markets, including China.
About BillionDollarClub
BillionDollarClub (“BDC”) is a specialized communications platform with a focus on the biggest and brightest companies covered by IBN. It is one of 60+ brands within the Dynamic Brand Portfolio @ IBN that delivers: (1) access to a vast network of wire solutions via InvestorWire to efficiently and effectively reach a myriad of target markets, demographics and diverse industries; (2) article and editorial syndication to 5,000+ outlets; (3) enhanced press release enhancement to ensure maximum impact; (4) social media distribution via IBN to millions of social media followers; and (5) a full array of tailored corporate communications solutions. With broad reach and a seasoned team of contributing journalists and writers, BDC is uniquely positioned to best serve private and public companies that want to reach a wide audience of investors, influencers, consumers, journalists, and the general public. By cutting through the overload of information in today’s market, BDC brings its clients unparalleled recognition and brand awareness.
BDC is where breaking news, insightful content and actionable information converge.
To receive SMS alerts from BillionDollarClub, text “Billion” to 888-902-4192 (U.S. Mobile Phones Only)
For more information, please visit https://www.BillionDollarClub.com
Please see full terms of use and disclaimers on the BillionDollarClub website applicable to all content provided by BDC, wherever published or re-published: https://www.BillionDollarClub.com/Disclaimer
BillionDollarClub
Los Angeles, CA
www.BillionDollarClub.com
310.299.1717 Office
Editor@BillionDollarClub.com
BillionDollarClub is powered by IBN
