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Investing.com-- Shares of Chinese electric vehicle makers Xpeng (HK:9868) and NIO (HK:9866) rose on Monday after both companies reported record delivery figures for October amid intensifying competition in the world’s largest EV market.
XPeng said it delivered 42,013 vehicles in October, up 76% from a year earlier and 1% higher than in September, marking a new monthly record.
The company said growth was supported by strong demand for its X9 MPV and G6 SUV, as well as rising overseas sales as it expands into European markets.
Hong Kong-listed Xpeng shares jumped as much as 4.8% to HK$91.4 on Monday by 03:25 GMT.
NIO shares climbed as much as 4.6% to HK$57.1.
NIO also reported record deliveries, handing over 40,397 vehicles last month -- a 92.6% increase from a year earlier and 16% higher than September.
It was the first time NIO’s monthly deliveries surpassed the 40,000-unit mark. The company attributed the surge to robust demand across its lineup, including its new sub-brands Onvo and Firefly, which target the mid-range and compact segments.