The three major China-based smart electric vehicle (EV) companies,
NIO Inc.
NIO
,
Li Auto
LI
and
XPeng Inc.
XPEV
, recently announced their delivery updates for February 2022.
Let’s take a detailed look at the monthly updates of each of the three.
NIO’s vehicle delivery went up 9.9% year over year to 6,131 vehicles in February 2022. The deliveries included 1,084 ES8s, NIO’s six- or seven-seater flagship premium smart electric SUVs, 3,309 ES6s, its five-seater high-performance premium smart electric SUV and 1,738 EC6s, its five-seater premium smart electric coupe SUV. As of Feb 28, 2022, cumulative deliveries of the ES8, ES6 and EC6 were 182,853 vehicles.
During the production hiatus of the NIO-JAC manufacturing plant in the Spring Festival holiday from Jan 31 to Feb 6, 2022, NIO adjusted the production lines to be ready for the delivery of ET7 in March 2022.
The company added that it received in-principle approval to list on the Hong Kong Stock Exchange, with trading expected to commence on Mar 10, 2022.
NIO currently carries a Zacks Rank #4 (Sell).
Li Auto saw deliveries of 8,414 Li ONEs in February 2022, shooting up 265.8% year over year. The cumulative deliveries of Li ONE have reached 144,770 since the vehicle’s market debut.
As of Feb 28, 2022, LI had 220 retail stores in 105 cities, as well as 279 servicing centers and Li Auto-authorized body and paint shops operating in 204 cities.
LI currently carries a Zacks Rank #3 (Hold).
XPeng delivered 6,225 Smart EVs in February 2022. The deliveries jumped 180% year over year, reflecting XPEV’s robust business model and execution capability.
The deliveries in February covered 3,537 P7 smart sports sedans, with the sales volume rising 151% year over year. With 2,059 P5 smart family sedans, the cumulative deliveries of the P5 stand at 13,953 since its launch in September 2021. The number of G3 and G3i smart SUVs delivered was 629.
The technology upgrade at the Zhaoqing plant was completed during the Chinese New Year holiday from late January to early February. Production at the Zhaoqing plant resumed mid-February per plan, enabling XPEV to expedite delivery of its significant order backlog.
February 2022 also ushered in some milestones for the company.
XPeng was added to the Shenzhen-Hong Kong and Shanghai-Hong Kong Stock Connect programs and now Chinese Mainland investors will be allowed to trade in eligible Hong Kong shares of the company. From Mar 7, 2022, onward, it will also be included in the Hang Seng TECH Index as a constituent stock. The XPeng has also entered into strategic partnerships with two major European automobile players for agency retail collaborations in the Netherlands and Sweden. Further, XPeng opened its first branded overseas retail experience store in Stockholm, Sweden.
XPEV currently carries a Zacks Rank of 4.
Key Pick
A better-ranked peer in the EV space is
Tesla
TSLA
, carrying a Zacks Rank #1 (Strong Buy). You can see
the complete list of today’s Zacks #1 Rank stocks here
.
Tesla has an expected earnings growth rate of 40.7% for the current year. The Zacks Consensus Estimate for current-year earnings has been revised around 22.3% upward in the past 60 days.
Tesla’s earnings beat the Zacks Consensus Estimate in all of the trailing four quarters. TSLA pulled off a trailing four-quarter earnings surprise of 33.3%, on average. The stock has also rallied 25.9% over a year.
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