Nio Inc. April Deliveries Double, Push Shares Up 20%

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.

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