Li Auto (LI) and Xpeng (XPEV) Surge on Strong Delivery Numbers for July, Nio (NIO) Lags

August 2, 2021 6:23 AM EDT

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Shares of both Li Auto (NASDAQ: LI) and Xpeng (NYSE: XPEV) are up almost 5% in pre-open Monday after the latest data showed strong delivery numbers for both companies in July.

Li Auto delivered 8,589 Li One units for July to mark a new monthly record for the company. Similarly, Xpeng said it delivered 8,040 vehicles, with 75% of this figure involving deliveries of the P7 sedan.

On the other hand, Nio (NYSE: NIO) said it delivered 7,931 vehicles in July, which is slightly lower than 8,083 unit deliveries reported for June. Shares of the company are trading largely unchanged in early Monday trading.

In separate news, Xpeng has announced the start of the construction for its Wuhan manufacturing plant. The plans are for the factory to have an annual capacity of 100,000 new vehicles and to be able to generate a production value of over 30 billion yuan ($4.64 billion) on annual basis.

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