To The Moon

Chinese electric carmakers Nio and Xpeng saw deliveries dip in January versus December but were still higher compared to a year ago. Xpeng said Tuesday it delivered 12,922 electric vehicles in January, a more than 19% dip from December. But that still represents a 115% year-on-year rise. It’s the fifth straight month that Xpeng has delivered over 10,000 units in a single month. But in November and December, it managed to exceed 15,000 deliveries.

As of Jan. 31, Xpeng said cumulative deliveries of its electric cars — the P7, P5, G3 and G3i — surpassed 150,000 units. Both Nio and Xpeng have been grappling with the global chip shortage which continues to plague the auto industry. In an earnings call in July, Xpeng CEO He Xiaopeng said that the global chip shortage remains the “biggest production hurdle” for the company.

Xpeng and Nio are among the plethora of challengers to Tesla in China’s fiercely competitive electric vehicle market. Still, the U.S. carmaker is managing to fend off the competition. In December, Tesla sold a record 70,847 China-made vehicles, significantly higher than both Nio and Xpeng.

Both Nio and Xpeng have been investing to ramp up production at their factories and expand overseas.

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