From Investor's Business Daily, September 28:
Tesla rivals in China are preparing to report EV sales for September, with the startups Nio (NIO), Li Auto (LI) and XPeng (XPEV) on tap Sunday.
Chinese EV and battery giant BYD (BYDDF) is on deck in early October. Tesla (TSLA) is also due to report global sales for the third quarter.
Tesla Rivals In China Eye Strong September
Preliminary signs point to another strong month after a robust August for China EV sales. The Tesla rivals in China have all launched new and more affordable models amid a price war.
Here is what to expect:
Li Auto Sales
Li Auto sold 34,134 vehicles in July and 34,914 vehicles in August.For Q3, Li Auto has guided deliveries of 100,000-103,000 vehicles. That means the Tesla rival is now tracking toward the high end of its delivery guidance.
Li touts strong sales of the L7, Li L8, and Li L9. Those are all new, premium, hybrid-electric SUVs.
Its first all-electric vehicle, the Mega, is in the works.
Shares edged higher in Wednesday's stock market trading, nearing 35. Year to date, Li stock is up almost 70%. But shares have tumbled this week amid reports that Li Auto is offering sizable discounts as it faces more competition, including from Huawei-backed Aito.
Nio EV Sales
Nio sold a record 20,462 EVs in July and 19,329 in August.For Q3, Nio has guided deliveries of 55,000-57,000 vehicles. That means it's now tracking above the high end of its delivery guidance.
Analysts have high hopes for the new ES6, a totally overhauled version of Nio's top-selling electric SUV.
In September, Nio also launched its first smartphone and unveiled its first chip developed in-house.
Nio shares gained 0.6% on Wednesday, to above 8. Year to date, Nio stock is down about 14%. They've lost nearly half their value from the Aug. 4 high of 16.18.
XPeng Sales...
....MUCH MORE, including BYD
