XPeng Surpasses Nio, Becomes 3rd Largest US-listed EV Maker

Shares of Guangzhou-based electric vehicle (EV) maker Xpeng closed 2.5% higher on Fri at USD11.52, lifting its market capitalization to USD10.86 billion and surpassing Nio.

The company led by Xiaopeng He now ranks as the 3rd most valuable Chinese EV company listed in the U.S., following Li Auto (USD26.2 billion) and Tesla (USD799 billion) in a ranking that excludes non-U.S. listed companies such as BYD or Xiaomi.

The company's share price has gained 52% over the past three months, as the EV maker registered a record number of deliveries in the last two months.

XPeng delivered 21,352 vehicles in Sep and 23,917 in Oct, a 20% increase from the previous year. The Mona M03, XPeng's low-cost model, accounted for nearly half of Oct's deliveries. Total deliveries for the year are up 21%, reaching 122,478 units.

Next week, on Nov 7, the company will officially launch P7+, its new flagship sedan. The pre-sale price of 209,800 yuan (USD29,455) was announced at the Paris Auto Show in mid-Oct and the model secured over 30,000 pre-orders in the first 1 hour and 48 minutes.

Nio shares rose nearly 26% in the same period as it started deliveries in China of its first sub-brand Onvo. Firefly, the second sub-brand from the group, will be unveiled on Dec 21 with deliveries of the first model planned for next year.

The figure includes 4,319 deliveries from its new sub-brand, Onvo, and 16,657 from its main Nio brand. Last Oct, when the company had still no sub-brand, Nio's deliveries totaled 16,074 units.

The U.S. based EV makers Rivian and Lucid Motors closed Fri with a market cap of USD10.26 billion and USD5.10 billion, respectively.

XPeng Surpasses Nio, Becomes 3rd Largest US-listed EV Maker

$Tesla (TSLA.US)$ $BYD COMPANY (01211.HK)$ $BYD Company ADR (BYDDY.US)$ $NIO Inc (NIO.US)$ $Li Auto (LI.US)$

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