Xpeng Motors launches the P5 sedan at an occasion in Guangzhou, China on April 14, 2021. The P5 is Xpeng’s third manufacturing mannequin and options so-called Lidar expertise.
Arjun Kharpal | CNBC
GUANGZHOU, China — Xpeng mentioned it delivered greater than 10,000 vehicles in October, sending its Hong Kong shares larger on Monday.
The electrical automobile maker delivered 10,138 vehicles final month, down from 10,412 in September. Nonetheless, that represented a 233% year-on-year improve and the second-straight month the place Xpeng delivered greater than 10,000 vehicles.
Xpeng’s Hong Kong-listed shares have been about 3% larger in afternoon commerce.
Automakers the world over have been combating a scarcity in semiconductors that has constrained some firms’ skills to ship vehicles. Xpeng seems to be weathering that nicely. The corporate has previously said that the chip scarcity impression is “restricted.”
October deliveries included 6,044 models of Xpeng’s P7 flagship sedan, representing a 187% year-on-year improve. Xpeng mentioned it delivered 3,657 models of its G3 and G3i sports activities utility automobile, reaching a month-to-month report for the reason that automobile’s launch in December 2018.
Xpeng additionally mentioned it delivered 437 models of its P5 sedan, which formally launched in September.
The corporate mentioned its cumulative deliveries have exceeded 100,000 as of the top of October. This 12 months alone, the corporate has delivered 66,542 autos, a 289% year-on-year rise.
Xpeng faces rising competitors in China’s electrical automobile market from different start-ups like Nio and Li Auto in addition to incumbents like Warren Buffett-backed BYD and Elon Musk’s Tesla. However there have additionally been some new challengers hoping to crack the electrical automotive market. Xiaomi, which is most well-known for smartphones, mentioned it plans to mass produce electric cars in the first half of 2024.
