Nio EV deliveries rise 30% to a record in November, XPeng’s tumbles 63%

Shanghai-based Nio
NIO,
+8.79%
said it has now delivered a total of 273,741 EVs as of Nov. 30, and plans to accelerate production and deliveries in December.

Nio’s stock pulled back 5.3% in morning trading, after soaring 21.7% Wednesday. The stock climbed 32.2% in November, the best monthly performance since it soared 65.2% in November 2020, as investors cheered recent moves China has made to ease COVID restrictions.

Nio’s stock pullback comes as the Invesco Golden Dragon China exchange-traded fund fell 2.0%, after rocketing a monthly record 41.8% in November. The S&P 500 index
SPX,
-0.72%
slumped 0.4%, after it jumped 3.1% on Wednesday and gained 5.4% in November.

Beijing-based Li Auto Inc.
LI,
+8.92%
said it delivered a monthly record 15,034 EVs in November, 11.5% more than it did in the same month last year. The company has delivered a total of 236,101 EVs as of the end of the month.

The stock shed 3.2% early Thursday, following an 18.7% run up on Wednesday and 61.5% rally in November.

Meanwhile, Guangzhou-based XPeng Inc.
XPEV,
+26.38%
said it delivered 5,811 EVs to customers in November, as it “mitigated challenges brought by COVID-related restrictions and disruptions.” That was down 62.8% from the 15,613 EVs delivered in November 2021.

It’s no wonder that while Nio and Li both provided year-over-year changes in their November deliveries’ releases, XPeng didn’t provide the year-over-year performance.

XPeng said that it has delivered 109,465 EVs year to date through Nov. 30, up 33% from the comparable period last year. And the company said it expects deliveries will “significantly increase” in December, as the production ramp-up of G9s accelerates under “normalized” operating conditions.

XPeng’s stock sank 9.4% Thursday, but that was after it soared a one-day record 47.3% on Wednesday, despite reporting a wider-than-expected third-quarter loss. It hiked up 63.3% in November.