From CNBC: 2024-05-02 02:27:58

Chinese electric vehicle maker Nio Inc saw a 20% jump in shares after doubling vehicle deliveries in April, reaching a total of 15,620 vehicles. Nio has delivered 45,673 vehicles in 2024, an increase of 21.2% from last year, and is expanding battery swap partnerships to alleviate range anxiety.

Li Auto delivered 25,787 vehicles in April, down 11% from March. Xpeng delivered 9,393 EVs, up 4% from the prior month, while BYD’s sales volume for EVs was 313,245 in April, up 3.6% from March.

Price wars in the EV market heat up as Xiaomi launches the SU7 electric car, priced $4,000 lower than Tesla’s Model 3 with a longer driving range claim. Xiaomi’s CEO Lei Jun states the new EV is selling better than expected, aiming to break even sooner despite the lower price point.



Read more at CNBC:: China Nio shares soar 20% as EV deliveries more than double in April