XPeng's stock rallies after record July delivery data, Nio's stock slips

Share of Xpeng Inc.

rallied 4.8% in premarket trading Monday, after the China-based electric vehicle maker reported July deliveries that more than tripled from a year ago and rose 22% from the previous month, to mark a second-straight monthly record. Fellow China-based EV maker Nio Inc.’s stock

slipped 0.2% ahead of the open, after July deliveries more than doubled from a year ago but slipped 1.9% from June. XPeng said late Sunday that it delivered 8,040 EVs in July, up 228% from a year ago and up from 6,565 in June, while Nio said early Monday that July deliveries rose 124.5% from a year ago to 7,931 vehicles, after delivering 8,083 EVs in June. XPeng’s deliveries in July included 6,054 P7 smart sedans and 1,986 G3 smart compact SUVs, while Nio’s July deliveries included 3,669 ES6 5-seater SUVs, 2,560 EC6 five-seater coupes and 1,702 ES8 six- or seven-seater SUVs. Year to date, XPeng’s stock has slipped 5.4% and Nio shares have given up 8.3% through Friday, while shares of U.S.-based EV leader Tesla Inc.

have eased 2.6% and the S&P 500

has rallied 17.0%.

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