Bin Li, CEO of the Chinese electric vehicle start-up NIO Inc. New York, September 12, 2018.
Brendan McDermid | Reuters
BEIJING – Nio has launched a Chinese electric car for a solid year, even though it has a long way to go to catch up with market leader Tesla.
The company said Monday it delivered 7,225 vehicles in January, more than four times more than 1,598 cars delivered in the same month last year.
Last month’s figures also mark the sixth consecutive month of Nio’s record deliveries, bringing the start-up’s cumulative deliveries to 82,866.
It took Nio about six years to reach this point, while Tesla delivered 180,570 cars in the last three months of 2020 alone.
Nio’s New York-listed shares have risen 17 percent so far, only shy of Tesla’s 19 percent gain. Both shares outperform the S&P 500 by about half a percent.
Shares of Xpeng, another US-listed Chinese electric car company, have risen 15 percent so far.
Xpeng said Monday it delivered 6,015 electric cars in January, the third consecutive month of record deliveries. The company’s P7 sedan accounted for more than half of last month’s deliveries for a total of 18,772, since its mass launch in late June.