Day: May 2, 2021

EV Stock NIO and XPeng Reported Impressive Deliveries. Why That’s Bad News.

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The Xpeng P7 electric vehicle is displayed outside the New York Stock Exchange


Jeenah Moon/Bloomberg

April deliveries from Chinese electric vehicle makers

NIO

and

XPeng

offer investors some reason for hope and some reason for concern.

The pair reported April delivery figures over the weekend. NIO (ticker: NIO), for its part, reported it delivered 7,102 vehicles, up 125% year over year. The year-over-year change, however, doesn’t matter. NIO is a high-growth company and has been adding capacity rapidly. Deliveries were at about the same level as recent months. NIO delivered 7,257 vehicles in March.

Current manufacturing capacity is about 7,500 vehicles a month, but production hasn’t been able to hit that level because of the global semiconductor shortage roiling the automotive industry.

The 7,100 figure puts NIO on track to hit is second quarter delivery guidance of roughly 21,000 vehicles given this past week when the company

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