Chinese electric vehicle manufacturer Nio is off to a rip-roaring start in 2021.
Nio announced that it delivered 7,225 vehicles in January. That’s more than four times the 1,598 cars they delivered during the same month last year. The January figures mark Nio’s sixth-straight month of record high deliveries. The early 2021 totals bring the start-up’s cumulative deliveries to 82,866 since last August. It’s taken Nio six years to reach this point. Meanwhile, rivals Tesla delivered 180,570 cars in the last three months of 2020 alone.
Nio’s share price has risen 17% so far in 2021. That’s just shy of Tesla’s 19% gain. Both stocks are outperforming the S&P 500′s roughly half-percent rise for the year-to-date. Nio is widely seen as the top competitor to Tesla in the electric vehicle sector.
However, the stock of Xpeng ,another U.S.-listed Chinese electric car company, is up 15% so far this year. Xpeng said it delivered 6,015 electric cars in January, a third-straight record month of deliveries. The company’s P7 sedan accounted for more than half of last month’s deliveries. They have sold a total of 18,772 cars since its mass rollout began in June 2020.