⏰Chinese EVs a Strong Showing
Delivery numbers were pleasant for both Nio, XPeng and Li Auto as it reflects healthy growth in China’s EV market. Moreover, the November deliveries came when the 3 Chinese EV companies had reported their earnings result.
🪜Nio: A major Comeback
For NIO, investors had a sense of relief as it delivered 10,878 vehicles, a strong rebound from a disappointing October when they only delivered about 3667 vehicles. It was a new record and allowed the company to be on track towards its guidance. Based on that, we should be expecting another 20,800 vehicles for both November and December.
💎XPeng: A Pika World Favourite
Since our further initiation on XPeng, we have seen spectacular performance for the company. November delivery hit all estimates with an astounding delivery of 15,613 cars, a 270% increase compared to a year ago. Based on its guidance, it is expected to deliver around 25,400 vehicles for Nov and Dec.
🏄🏼♂️Li Auto: Sound Deliver Performance
The company delivered 13,485 vehicles in November. It is expected to deliver about 23,400 vehicles for November and December, and thus, it is well on track for its guidance. It was yet another rosy month for the delivery figures.
🍏Healthy EVs demand in China
The delivery results point to a sigh of relief and a continual strength seen in China’s EV market. This could also mean a possible good result for Tesla. It also hints that the semiconductor shortage has generally eased. It is most evident in Li Auto, which has previously been unable to hit a 14,000 units assembly capacity due to the lack of chips.
If the shortage is eased further, it bodes well for the automotive industry as we move into 2022. Pika World continues to maintain exposure to the EV sector.
We hope you enjoy this read, and stay tuned for our next update on the move.
Cheers,
Pika Nat
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