To The Moon

China EV sales jumped in June, with startups $NIO Inc.(NIO)$, $Li Auto(LI)$ and $XPeng Inc.(XPEV)$ reporting electric vehicle deliveries for the month and second quarter on Saturday, followed by Chinese EV giant $BYD Co., Ltd.(BYDDY)$ on Sunday.

Here are June and Q2 sales and expectations for Chinese EV makers.

China EV Sales: $Li Auto(LI)$

Li Auto reported June deliveries of 32,575, exceeding 30,000 for the first time. That was up from 28,277 in May and 25,681 in April. Second-quarter sales were 86,533, well above prior guidance for 76,000-81,000 and up from 52,584 in Q1.

For Q3, the hybrid SUV maker aims for monthly deliveries for the L8 and L9 of more than 10,000, and hoping to hit 15,000 monthly sales of the L7. For Q4, Li is looking for overall monthly deliveries of 40,000. It'll also roll out its first all-electric model in Q4, the Mega minivan

Shares of Li Auto rose 2.4% in Friday's stock market trading. Li Auto stock jumped 5.7% for the week and has soared roughly 72% so far this year, far outperforming its startup rivals.

$NIO Inc.(NIO)$ Deliveries

Nio delivered 10,707 vehicles in June, up sharply from 6,155 in May and April's 6,658. The EV maker's sales picked up as deliveries ramped up for the next-generation version of its ES6. It also began deliveries last month for its ET5 Touring and its totally overhauled ES8 SUV.

Nio also has joined the EV price war started by Tesla, after long insisting it wouldn't do so. On June 12, the maker of premium EVs slashed prices by 30,000 RMB (roughly $4,200).

Nio delivered 23,520 vehicles in Q2, in the lower half of its target for 23,000 to 25,000. That was down from 31,104 in Q1.

On June 12, Nio joined New models include ES8, which Nio began delivering Wednesday. On May 24, Nio launched the new ES6 of its bestselling electric SUV. Both the ES6 and ES8 are totally overhauled, second-gen versions of existing models.

Shares of Nio popped 3.2% Friday. Nio stock climbed nearly 15% for the week but remains far below the 52-week high.

$XPeng Inc.(XPEV)$

Xpeng delivered 8,620 vehicles in June, up from 7,506 EVs in May and 7,079 in April. It was the fifth straight month-to-month gain, though June sales tumbled 44% vs. a year earlier. Q2 deliveries of 23,205 vehicles sank nearly one-third vs. a year earlier. But they were above XPeng's guidance range for 21,000 to 22,000 vehicles.

The EV maker has high hopes for its G6 crossover, which will begin deliveries this month.

The G6, seen as a Model Y rival, will start at RMB 209,900 ($28,941), significantly lower than the Model Y's starting price of around RMB 263,900 in China.

Management is reportedly targeting monthly sales of 10,000 units for the G6 SUV, positioning it as a key growth driver. The G6, based on a next-generation technology architecture, is the most competitively priced SUV in China in the RMB 250,000 range, XPeng claims. Deliveries begin in July.

Shares of XPeng leapt 13.4% Friday to take its weekly surge to almost 36% amid the G6 launch. XPEV stock continued its June rebound, which has taken shares back above the 50-day and 200-day averages.

XPeng stock on Friday cleared a deep consolidation going back to early December, with buy points at 11.95 and 13.10.

$BYD Co., Ltd.(BYDDY)$

BYD sold 253,046 vehicles in June, up 88% vs. a year earlier and up from 240,220 in May and 210,295 in April. Of the 251,685 passenger vehicles, BYD sold 128,196 battery electric vehicles (BEVs), up from 119,603 in May. It also 123,489 plug-in hybrids, up from 119,489 in May.

In the second quarter, BYD sold 703,561 vehicles, up 98% vs. a year earlier and 27.4% vs Q1.

In the first half of 2023, BYD has sold 1,255,637 EVs. The automaker has a 2023 goal of selling at least three million vehicles. To do that, BYD will have to sell roughly 290,000 a month in the second half.

The homespun EV giant continues to launch cheaper versions of its electric vehicles, including the Yuan Pro and Song Pro in late May. It also began delivering the cheap and small Seagull in May. On Monday, BYD will launch the Denza N7, a premium crossover and the second vehicle from Denza's line.

Shares of BYD climbed 2% Friday, rebounding from the 50-day line. Shares are in range of a 31.07 buy point.