Chinese EV stocks rally after March deliveries reports dazzle
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Chinese electric vehicle stocks jumped in early trading on Friday after deliveries reports for March came in strong.
XPeng (NYSE:XPEV) gained 8.99% in premarket trading after seeing deliveries rise 202% year-over-year to 15,414 EVs. Q1 deliveries rose 159% to 34,561.
Li Auto (NASDAQ:LI) jumped 6.16% after reporting 125% year-over-year growth to 11,034 deliveries. Q1 deliveries increased 152% to 31,716.
Nio (NYSE:NIO) rallied 6.08% after reporting 38% year-over-year growth to 9,985 deliveries for the month. Q1 deliveries were up 28.5% to a quarterly record tally of 25,768.
BYD Company Limited (OTCPK:BYDDY) did not release an official tally, but some estimates indicate that the Chinese automaker delivered more than 100K EV and plug-in hybrids for the first time in its history.
Elsewhere in the China EV sector, Kandi Technologies (KNDI) rose 5.62%, while Tesla (TSLA) was up 0.59% with its Q1 deliveries report expected to be posted later on Friday or over the weekend.
The Chinese EV stocks were all listed on Seeking Alpha's Catalyst Watch for the week.