Li Auto Outdoes Rival Nio In February Deliveries But Registers Similar Sequential Decline

Li Auto Inc LI on Tuesday reported higher delivery numbers in February than rival Nio Inc NIO even as the two U.S.-listed Chinese electric vehicle makers reported a sequential decline in volume.

What Happened: The Beijing, China-based Li Auto said it delivered 8,414 electric vehicles last month, a fall of 31.3% over January and a jump of 265.8% year-on-year.

“The holiday season and an outbreak of the pandemic in Suzhou have resulted in supply shortages and affected our production,” said Yanan Shen, co-founder and president of Li Auto.

Unlike Nio, which currently has three models on sale, Li Auto has grabbed a firm footing in China’s fast-growing electric vehicle race with just one model on sale.

Li ONE is the company’s first model and it went on sale in November 2019; Li Auto has plans to expand the line-up.

See Also: Nio Deliveries Fall 36.4% Sequentially In February As Production Impacted By Holidays

The EV maker said the cumulative deliveries of Li ONE reached 136,356 since the vehicle’s debut in November 2019.

Nio’s Deliveries: Nio delivered 6,131 electric vehicles last month, a decline of 36.4% over January and a rise of 9.9% over February 2021.

The Shanghai-headquartered Nio attributed the decline to production suspension at the NIO-JAC manufacturing plant in the Spring Festival holiday from Jan. 31 to Feb. 6 and adjusted the production lines to prepare for the delivery of ET7 in March 2022.

Price Action: Li Auto shares closed 9.2% higher at $30.5 a share on Monday.