Nio’s ET5 will be exhibited at the Central International Auto Show to be held in Wuhan, China on May 25, 2023.
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Shares in Chinese electric car maker Nio rose 20% on Thursday after vehicle deliveries more than doubled in April.
The company’s Hong Kong-listed shares rose as much as 23% to HK$44.20, the highest in more than six weeks. Nio stock also contributed to the overall lift in the Hang Seng Index, which rose 2% by midday trading.
According to Nio, the number of vehicles delivered in April was 15,620, an increase of 134.6% from the previous year.
“We delivered 8,817 premium smart electric SUVs and 6,803 premium smart electric sedans,” the company said in a statement Wednesday.
Nio has delivered 45,673 vehicles so far this year, an increase of 21.2% year over year.
Chinese EV makers are also expanding battery swap partnerships as they seek to gain an infrastructure advantage in the EV ecosystem. Initiatives like this are aimed at allaying consumer concerns about driving ranges.
Other Chinese EV makers, including Li Auto, Xiaopeng and BYD, also reported April deliveries on Wednesday, but Li Auto was the only one to report fewer deliveries than the previous month.
Li Auto delivered 25,787 vehicles in April, down 11% from March. The company’s Hong Kong-listed shares remained up 3%.
Xpeng announced that it delivered 9,393 EVs in April, an increase of 4% month-on-month. BYD’s EV sales in April were 313,245 units, an increase of 3.6% from March’s 302,459 units.
Xpeng’s Hong Kong-listed shares rose 7.5%, while BYD’s shares rose 5%%.
Chinese smartphone maker Xiaomi recently joined the fray, launching an electric car in early April. The company priced the SU7 about $4,000 less than Tesla’s Model 3. The company also claimed that the new car’s range will be increased.
Just last week, CEO Lei Jun said the company’s new EVs are selling better than expected and that the company is turning a profit faster than expected, even though it sells for less than Tesla’s Model 3. He said he wanted to.
— CNBC’s Evelyn Cheng contributed to this article.
