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NIO Inc. NIO, XPeng Inc. XPEV and Li Auto LI, the three smart electric vehicle (EV) companies in China, recently provided their respective delivery results for November 2024.
NIO delivered 20,575 vehicles in November 2024, rising 28.9% year over year. The deliveries comprise 15,493 units of the premium smart EV brand NIO and 5,082 units of ONVO, a family-oriented smart EV brand. As of Nov. 30, 2024, NIO’s cumulative deliveries stand at 640,426 units.
XPeng’s Smart EV deliveries rose 54% year over year to 30,895 units in November 2024. XPENG MONA M03 deliveries surpassed 10,000 units for the third consecutive month since its launch. Deliveries of XPENG P7+ surpassed 7,000 units after 23 days of launch. In November, XPENG achieved an 85% monthly active user penetration rate for urban driving. It officially expanded into Nepal and U.K. markets in the same month.
In November 2024, Li Auto delivered 48,740 vehicles, up 18.8% year over year. In the first 11 months of 2024, Li Auto had delivered a total of 441,995 units, taking its cumulative deliveries to 1,075,359 units. Li's ongoing advancements in autonomous driving technology have driven strong demand for models equipped with Li AD Max. In November, these vehicles made up more than 70% of orders for models priced above RMB 300,000 and more than 80% for those exceeding RMB 400,000.
The company also launched OTA update version 6.5 in November, introducing a one-click point-to-point autonomous driving feature for all Li AD Max users. This update leverages the company's end-to-end capabilities and vision-language model technologies. As of Sept. 30, 2024, the automaker had 475 retail stores in 141 cities, 451 servicing centers and Li Auto-authorized body and paint shops in 223 cities and 1,135 supercharging stations with 5,680 charging stalls in China.
NIO, XPEV and LI's Price Performance
Shares of NIO, XPEV and LI have plunged 38.8%, 24.8% and 33.9%, respectively, over the past year.
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NIO, XPeng and Li Auto's Zacks Rank
XPEV and LI carry a Zacks Rank #3 (Hold) each at present, while NIO carries a Zacks Rank #4 (Sell).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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