XPEV - EV Roundup: NIO's Deliveries Surge 234% in May TSLA Issues Recall & More | Benzinga
China-based electric vehicle players NIO Inc. (NYSE: NIO), XPeng Inc. (NYSE: XPEV) and Li Auto (NASDAQ: LI) recorded year-over-year growth in May 2024 deliveries, with NIO recording triple-digit percentage gains. Meanwhile, U.S. EV king Tesla (NASDAQ: TSLA) also made it to the top stories with the recall of 125K vehicles.
While LI carries a Zacks Rank #5 (Sell), NIO and TSLA are #3 Ranked (Hold) currently. XPEV carries a Zacks Rank #2 (Buy).
Last Week's Top Stories
Li Auto reported 35,020 vehicle deliveries in May 2024, up 23.8% year over year. The company's cumulative deliveries were 774,571 vehicles as of May 31, 2024. More than 15,000 Li L6 vehicles have been delivered since its launch on Apr 24, setting a record pace for new models. The company is committed to maintaining supply chain security and ramping up Li L6 production to expedite customer deliveries. Sales of the 2024 Li L7, Li L8, and Li L9 are also accelerating, driven by a new pricing strategy. Li Auto's market share in the RMB200,000 and above NEV market grew to 13.5% from January ...