Al Root

Shares of Chinese electric-vehicle makers NIO, XPeng, and Li Auto rose early Thursday after posting strong delivery results.

Chinese car buyers love EVs. That's good news for all EV makers, including Tesla. Competition, however, remains fierce.

In April, XPeng delivered 35,045 vehicles, up 273% from a year ago. It was the sixth consecutive month of deliveries greater than 30,000. U.S.-listed American depositary receipts were up 2.9% at $19.14 in premarket trading, while S&P 500 and Dow Jones Industrial Average futures were up 1.3% and 0.8%, respectively.

XPeng has delivered 129,053 vehicles so far in 2025, up more than 300% year over year.

NIO delivered 23,900 vehicles, up 53% from a year ago. Year to date, NIO has delivered 65,994 cars, up 45% year over year. NIO ADRs were up 2% in premarket trading at $4.13.

Li delivered 33,939 vehicles, up 32% from a year ago. Li delivered 126,803 in the first four months of the year, up almost 20% year over year. Li's ADRs rose 1.2% in premarket trading to $24.69.

Combined, the three auto makers have delivered 321,850 vehicles in 2025, up 76% year over year. Growth shows that Chinese car buyers are purchasing more EVs. That's good news for the industry. It also means stiffer competition for Tesla. In the first quarter, it sold about 135,000 cars in China, up about 2% year over year.

Coming into Thursday trading, XPeng ADRs were up 57% so far in 2025, while Li ADRs were up 2%, and NIO ADRs were down 7%.

Write to Al Root at allen.root@dowjones.com

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May 01, 2025 07:38 ET (11:38 GMT)

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