EV stocks gained in morning trading. Tesla rose 2%; Li Auto rose more than 6%; Nio rose over 3%.
Tesla aims to start mass production of its Cybertruck at the end of 2023, two years after the initial target for the long-awaited pickup truck Chief Executive Elon Musk unveiled in 2019.
Tesla said last month that it was working on readying its Austin, Texas plant to build the new model with “early production” set to start in the middle of 2023. “We’re in the final lap for Cybertruck,” Musk told a conference call with financial analysts.
NIO Delivered 10,059 Vehicles in October 2022, up 174.3% Year-Over-Year
NIO delivered 10,059 vehicles in October 2022, representing an increase of 174.3% year-over-year.
The deliveries consisted of 5,979 premium smart electric SUVs including 2,814 ES7s, and 4,080 premium smart electric sedans including 3,050 ET7s and 1,030 ET5s. The vehicle production and delivery were constrained by operation challenges in our plants as well as supply chain volatilities due to the COVID-19 situations in certain regions in China. Cumulative deliveries of NIO vehicles reached 259,563 as of October 31, 2022.