Xpeng delivers more than 10,000 cars in October, Hong Kong shares rise

Xpeng Motors launches the P5 sedan at an party in Guangzhou, China on April 14, 2021. The P5 is Xpeng’s third output product and capabilities so-referred to as Lidar technological innovation.

Arjun Kharpal | CNBC

GUANGZHOU, China — Xpeng claimed it delivered more than 10,000 vehicles in Oct, sending its Hong Kong shares greater on Monday.

The electric automobile maker delivered 10,138 cars last month, down from 10,412 in September. Nonetheless, that represented a 233% calendar year-on-12 months improve and the 2nd-straight thirty day period the place Xpeng delivered extra than 10,000 automobiles.

Xpeng’s Hong Kong-detailed shares were being about 3% bigger in afternoon trade.

Automakers across the globe have been battling with a shortage in semiconductors that has constrained some companies’ talents to provide cars. Xpeng seems to be weathering that nicely. The corporation has earlier said that the chip shortage affect is “confined.”

October deliveries bundled 6,044 units of Xpeng’s P7 flagship sedan, symbolizing a 187% 12 months-on-calendar year improve. Xpeng stated it shipped 3,657 units of its G3 and G3i sports utility auto, reaching a monthly document given that the vehicle’s launch in December 2018.

Xpeng also reported it shipped 437 models of its P5 sedan, which officially introduced in September.

Read a lot more about electric powered vehicles from CNBC Professional

The business explained its cumulative deliveries have exceeded 100,000 as of the close of Oct. This yr alone, the business has sent 66,542 autos, a 289% year-on-year rise.

Xpeng faces mounting competitors in China’s electrical car or truck current market from other start off-ups like Nio and Li Car as very well as incumbents like Warren Buffett-backed BYD and Elon Musk’s Tesla. But there have also been some new challengers hoping to crack the electric car or truck marketplace. Xiaomi, which is most very well known for smartphones, reported it designs to mass create electric autos in the 1st half of 2024.