Nio Vs. XPeng Vs. Li Auto: How May Deliveries Stack Up

U.S.-listed Chinese electric vehicle manufacturers Nio, Inc. NIO, XPeng, Inc. XPEV and Li Auto, Inc. LI appear to be bouncing back in May, as China begins to allow restricted operations.

The trio, however, suggested recovery is gradual as supply chain partners begin to pick up their shreds.

The May Numbers: Shanghai-headquartered Nio reported deliveries of 7,024 vehicles in May. This included 746 ES8s, 2,936 ES6s and 1,635 EC6s, all belonging to the class of SUVs, and 1,707 ET7 sedans Nio launched in late March. ET7 sales improved notably from the 693 units Nio sold in April.

XPeng sold 10,125 EVs, comprising 4,224 P7 sedans, 3,686 P5 sedans and 2,215 GS SUVs. Li Auto delivered 11,496 Li ONEs, the only model the company sells currently.

On a year-over-year basis, Nio's deliveries were up merely 4.7%. XPeng and Li Auto reported year-over-year increases of 78% and 165.9%, respectively.

Compared to lockdown-hit April, Nio and XPeng saw deliveries grow by 38.4% and 12.5%, respectively, from 5,074 units and 9,002 units. Li Auto's deliveries increased about 175% from the 4,167 Li ONE units it delivered in April.

Related Link: Nio To Invest $32M Toward Vertical Integration Of Battery Manufacturing: Report

Forward Commentary: Nio said its vehicle production was gradually recovering from the impact of COVID-19 outbreaks in certain regions in China. Deliveries were still constrained, partly due to preventative measures put in place, it added.

The company aims to further ramp up production capacity by working closely with supply chain partners and to accelerate deliveries, starting from June.

Guangzhou-headquartered XPeng said it has resumed double-shift production at its flagship Zhaoqing plant beginning in mid-May, thanks to the gradual recovery in supply chain and manufacturing operations following the COVID-19 lockdowns. The company also said it plans to launch ACC-L and LCC-L through over-the-air updates soon. These are adaptive cruise control and lane center control functions that use camera- and lidar-based perception.

Li Auto, meanwhile, suggested that it continues to face challenges due to parts supply shortages. This is despite the gradual production resumption at its parts suppliers in the Yangtze Delta region.

The company also sounded out delays in deliveries to some of its customers due to its Changzhou manufacturing base operating at sub-normal production capacity.

"At present, we are actively collaborating with our supply chain partners to restore production capacity, aiming to shorten the delivery waiting time for Li ONE users, while meeting all pandemic prevention and containment requirements," said Yanan Shen, co-founder and president of Li Auto.

Price Action: In premarket trading Wednesday, Nio's stock was advancing 1.96% to $17.73, according to Benzinga Pro data. XPeng shares were rising 1.49% to $23.85 and Li Auto was seen 2.55% higher at $25.71.