Chinese competitors Tesla: Nio, Li Auto and Xpeng have reported a sharp increase in the supply of electric vehicles against the background of economic recovery after the pandemic. Wall Street analysts predict higher growth in sales in 2021 in China, given the pent-up demand.
Shares of Chinese manufacturers of electric cars Nio (NIO), Xpeng Motors (XPEV) and Auto Li (LI) jumped on Monday amid reports of high sales in the rapidly recovering automotive market of China.
According to the Ministry of industry and information technology of China, from January to November 2020 the sales of electric cars grew by 4.4% compared to the same period last year, whereas total sales of passenger vehicles decreased by 7.6%.
Shares of Nio increased over the past year, 1296% on Monday rose by 9.75%. Shares of Li Auto IPO since 30 July 2020 increased by 109%, their growth on Monday was 12.6%. The company’s shares Xpeng Motors since their access to the public market on August 27 last year increased by 106.5% and almost 3% on Monday.
Nio, in contrast to its competitors Xpeng and Li, went public in 2018, has a higher market capitalization and the range of electric cars, three SUVs luxury apartments. Nio called Chinese Tesla (TSLA), and see in the company of the future strong opponent of the American company.
Sunday Nio announced that more than doubled December sales (compared value) to 7007 of electric vehicles in December and up to 17 353 units in the fourth quarter. Crossover CE6, which went on sale in September, now is the sales leader Nio.
For the entire 2020 Nio put 43 728 of the electric vehicle.
In comments to the report the leadership of the Nio noted that the new program “battery as a service” is gaining recognition.
The success of Nio in 2020 contributed to the financing from public investors by about $1 billion.
In August founder William Lee said that the company plans to resume plans for international expansion in the second half of 2021, starting with Europe.
For this upcoming event Nio Day 9 Jan Nio the company will present its first new electric sedan, the Tesla Model 3 rival in China and will share the progress in the field of Autonomous driving and other core technologies.
At the same time, Tesla retains a strong position in the Chinese market by increasing production rates at its plant in Shanghai. Report Tesla on the supply of the 4th quarter has surpassed the expectations of Wall Street and some analysts suggest that sales in China had helped it.
Tesla finished the year 2020 with the increase of supply by 36% compared to the year 2019: 499 550 EVS, slightly before reaching the goal of half a million.
January 1, Tesla said that it will soon start deliveries of Model Y produced in Chinese factory price 339 900 yuan, which is 30% cheaper than the original price and cheaper rates Nio CE6.
On Friday, the company Li Auto has reported a sharp jump in sales of its only electric vehicle Li One in December by 530% to 6126 units.
Supplies Li in the fourth quarter increased by 67% compared to the previous quarter to 14 464 units, which is higher than the company’s plans. For the entire 2020 company Li Auto set 32 624 of the car. Mass production of Li One began in November 2019.
The company Xpeng Motors, whose sales are SUVs and sedans G3 P7, reported that December sales jumped 326% to 5,700 cars.
Xpeng sales increased by 303% in the fourth quarter to 12 964 units and more than doubled for the entire 2020 to 27 041 units. Sedan P7, mass which began at the end of June, accounted for over half of annual sales.
Although Chinese manufacturers represent a competitive threat to Tesla in the past year, the American automaker put in five times more cars worldwide than three startups together.
Wedbush analyst Dan Ives believes that the greatest benefit from
the high demand for electric vehicles in China will get the Tesla, with its plant with annual production capacity of 250,000 cars.
On the weekends the analyst reiterated his previously expressed view that in 2021, global demand for electric cars “will see a serious change and sales can be doubled in the next few years, given pent-up demand for electric cars in all price categories.”
Ives expects further growth in China, Tesla will be able to deliver one million vehicles worldwide by 2022.
Forecasts on Wall Street for Chinese manufacturers of electric cars NIO, XPeng and Li Auto for 2021 read the article Marketinfo.pro “Promotion of electric vehicles NIO, and Li XPeng Auto get high marks Wall Street”.