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AsianFin -- U.S.-listed shares of two Chinese electric vehicle (EV) makers mixed on Monday even though both of them posted their record-high monthly deliveries at weekend.Credit: Nio

Credit：Nio

The American Depositary Receipts (ADRs) of Nio Inc. dropped more than 0.9%, while those of Zhejiang Zeekr Intelligent Technology Co., Ltd., a Chinese electric vehicle (EV) startup under Volvo’s owner Zhejiang Geely Holding Group, settled neraly 1.7% higher Monday. Shares of domestic peers Li Auto Inc. Edged 0.9% higher and Xpeng Inc. fell around 2.3% the same day.   

Nio said last Saturday it delivered 20,544 vehicles in May, hitting the monthly record with a substantial increase of 233.8% year-over-year (YoY). The Shanghai-based company accelerated its delivery after it posted a 134.6% YoY growth in April, a month following the monthly delivery reversed a sharp YoY decline of 33% in February. Sequentially, the EV maker maintained double-digit growth as it recorded a 31.5% month-over-month (MoM) increase in delivery in May, compared with a 31.6% growth a month earlier. Cumulative deliveries of NIO vehicles reached 515,811 from January to May, up 51% from a year ago.

Nio is expected to remain robust growth with new product pipelines in the horizon.  It launched last month 2024 ET7, a premium smart electric executive sedan. Featuring major enhancements in interior and exterior design and digital cockpit, the ET7 is tailored to cater to the demands of premium executive users. Deliveries of the 2024 ET7 began on April 30. It also plans to start deliveries of the 2024 ES7 and ET5 in the second quarter.

Zeekr announced the same day its delivery in May surged 115% YoY to 18,616 vehicles, refreshing its monthly record again. The latest delivery volume was 15.7% more than the previous record and also accelerated from a 99% YoY growth in April. Cumulative deliveries increased to 67,764 units for the first five months of this year, up 112%. Zeekr has delivered more than 10,000 units of Zeekr 001, a five-seater, cross-over shooting brake, for two months in a row, notching the position as top seller among full-electric models priced at more than RMB250,000. The company set a sales target of 230,000 vehicles this year, which requires it step up sales since it would have delivered 19,167 vehicles this year based on the average monthly delivery year to date.

Li Auto delivery rose 23.8% YoY to 35,0202 vehicles in May with a 35.8% MoM growth, recovering from a MoM decline of 11% and a mere 0.3% YoY increase in April. The chairman and CEO Li Xiang noted his company has delivered over 15,000 Li L6s, its first model priced under RMB300,000, since deliveries began on April 24, setting a record pace for its newly launched models. "Sales of the 2024 Li L7, Li L8, and Li L9 continue to gain momentum, driven by the new pricing strategy we implemented,”Li said.“Our market share in the RMB200,000 and higher NEV market continues to experience healthy year-over-year growth, expanding to 13.5% for the period between January to April and strengthening our top position among Chinese auto brands. "

Xpeng delivered 10,146 Smart EVs in May, up 35% YoY and 8% MoM. The delivery grew stronger than the previous month that saw a 33% YoY increase and a 4% MoM increase. May is the first month this year for Xpeng to ship more than 10,000 units. The Xpeng X9 achieved monthly deliveries of 1,625 units the month, with cumulative deliveries of 11,456 units since its launch on January 1. X9, Xpeng’s first full-electric MPV (Multi-Purpose Vehicle) model, continued held its top-selling position in both the all-electric MPV three-row model segments in China since its launch. At Xpeng AI Day event on May 20, the EV company announced the full-scale rollout of its AI-powered in-car operating system, XOS 5.1.0 or AI Tianji OS, to eligible users. It said the rollout highlights its leading position in end-to-end AI model application in the China auto industry, as well as the world’s first AI Valet Driver that leverages advanced AI technologies.