Shares of Xpeng (NYSE: XPEV) are trading about 2% higher in pre-open after the company reported strong delivery numbers for October.

The company delivered 10,138 EV units in October, slightly down from 10,412 delivered in September. Still, the number represents a 233% jump year-over-year.

Xpeng stock closed 2.65% higher in Hong Kong today.

As expected, the bulk of deliveries included the company’s flagship sedan P7 (6,044 units). Xpeng also delivered 3,657 units of G3 and G3i models, as well as 437 units of the P5 sedan.

Year-to-date, Xpeng delivered 66,542 vehicles.

Last week, Bernstein analyst Eunice Lee started research coverage of Xpeng with an Outperform rating.

“Xpeng P5 offers a favourable value proposition with its ADAS offering, and is well-positioned for the ~RMB 150k BEV market that has so far been largely untapped. Xpeng has the potential to build significant brand equity among tech savvy Chinese consumers and capture sizeable market share,” Lee said in a client note.

Shares are up 5.7% YTD.