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The launch of Chinese electric car Li Auto offers more cars than Xpeng

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Li Auto’s Li One electric car is on display at the Moonstar Global Harbor shopping center in Shanghai, China, on May 10, 2021.

Costfoto | Barcroft Media | Getty Images

BEIJING – Deliveries of what is essentially a hybrid electric car from Li Auto, listed in the United States, have surpassed those of rival start-up Xpeng for a second month in July.

Li Auto said Sunday that it supplied 8,589 Li One vehicles in July, a monthly record. The SU One Li One is the company’s only model on the market. The car comes with a fuel tank to recharge the battery, extending the distance of 180 kilometers by about 620 km (385.35 miles).

Xpeng said on Monday it also sent out a monthly record of 8,040 vehicles – of which 75% were its P7 sedan, rather than its other model, the SU G3.

That meant Li Auto delivered 549 more cars than Xpeng last month, after delivering more than 1,000 more cars than Xpeng in June.

On an annual basis through July, Xpeng lifted slightly more vehicles, to 38,778 against Li Auto’s 38,743.

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Among the three Chinese electric car start-ups listed in the United States, Li Auto shares have done the best this year with gains of 15.8%.

Shares of Nio fell 8.3% over the same period, while Xpeng fell nearly 5.4%.

Read more about electric vehicles from CNBC Pro

Nio’s deliveries for July were not available Monday through the morning. The company will release second-quarter results on August 11th.

Chinese and U.S. regulators have stepped up their scrutiny over Chinese companies listed in the United States over the past month.

Some companies like Xpeng have also listed shares in Hong Kong, in part as a protection against risks in the New York market. Hong Kong-listed shares of the start-up have fallen more than 4% since a bid it raised about the equivalent of $ 1.8 billion in early July.

Just over a week later, Xpeng announced its third model and the second sedan, the P5, would sell for up to 160,000 yuan ($ 25,000). It is less than the starting price for Tesla’s Model 3 in China at 250,900 yuan. Deliveries of the P5, which comes in six versions, are slated to begin in the fourth quarter.

– CNBC’s Arjun Kharpal contributed to this report.


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