The Nio deliveries in January quadrupled in comparison with the earlier 12 months and sign a powerful begin into 2021

Bin Li, CEO of Chinese electric vehicle startup NIO Inc., celebrates after the doorbell as NIO stock is listed on the New York Stock Exchange (NYSE) during the company’s IPO New York, Jan. September 2018.

Brendan McDermid | Reuters

BEIJING – Chinese electric car startup Nio got off to a solid start to the year, even if it is still a long way to catch up with market leader Tesla.

The company announced Monday it had shipped 7,225 vehicles in January, more than four times the 1,598 vehicles shipped in the same month last year.

Last month’s numbers also mark Nio’s sixth consecutive month of record shipments, bringing the startup’s cumulative shipments to 82,866.

It took Nio about six years to reach that point, while Tesla delivered 180,570 cars in the last three months of 2020 alone.

Nio’s listed shares on the New York Stock Exchange are up 17% year-to-date, just ahead of Tesla’s 19% gain. Both stocks outperform the S&P 500 by around half a percent.

Xpeng, another US-listed Chinese electric car company, is up 15% year-to-date.

Xpeng announced on Monday that it had shipped 6,015 electric cars in January, a third record month in a row. The company’s P7 sedan made up more than half of last month’s deliveries, a total of 18,772 since mass launch began in late June.

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