Hong Kong-listed Chinese electric vehicle (EV) stocks experienced a significant rally on Friday, driven by robust April delivery figures from major automakers. XPeng Inc. (HKEX: 9868) led the surge with its shares climbing over 7% after reporting a substantial increase in deliveries.
XPeng’s Impressive Growth
XPeng delivered 35,045 smart EVs in April, marking a 273% year-over-year increase and the second-highest monthly delivery in the company’s history. This achievement also represents the sixth consecutive month of deliveries exceeding 30,000 units.
Key contributors to this growth include the Mona M03 and P7+ models. The Mona M03 has surpassed 100,000 cumulative deliveries within eight months of its launch, while the P7+ reached its 50,000th production milestone just five months after debut.
Other EV Makers Show Strong Performance
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Li Auto: Reported 33,939 deliveries in April, a 31.6% year-over-year increase, maintaining its position in the premium SUV segment.
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NIO: Delivered 23,900 vehicles, reflecting a 53% year-over-year growth, bolstered by its expanding lineup and sub-brands. BYD: Achieved 380,089 EV sales, a 21.3% increase from the previous year, with battery electric vehicles surpassing plug-in hybrids for the first time in months.
Market Implications
The strong delivery figures underscore the resilience and competitiveness of Chinese EV manufacturers amid global economic uncertainties. Analysts attribute this growth to government incentives, aggressive pricing strategies, and the introduction of new models.
