China’s Xpeng, Nio make 100,000 electric cars in less time than Tesla

BEIJING — China’s electrical automobile firms are racing to ramp up manufacturing, quicker than Tesla did in its early days.

U.S.-listed start-up Xpeng stated Monday it has produced 100,000 cars — it got here six years after the corporate launched.

Rival electrical automobile start-up Nio stated in April it reached that 100,000 automobile manufacturing milestone. The U.S.-listed firm was based in late Nov. 2014 underneath a distinct title, and have become Nio in July 2017, about 4 years in the past.

For comparability, Elon Musk’s Tesla took 12 years from its launch in 2003 to provide 100,000 automobiles, according to public filings. Tesla has confronted quite a few manufacturing delays, particularly in its early years. The U.S.-based electrical automobile maker has since elevated its manufacturing capability with new factories in Shanghai an Berlin.

To be clear, Tesla continues to be a lot bigger as compared.

The electrical carmaker crossed the 1 millionth car mark more than a year ago in March 2020, Musk stated in a tweet.

Manufacturing within the third quarter alone reached 238,000 automobiles. The corporate’s shares are up 11% year-to-date.

Xpeng’s U.S.-listed shares are down 12% up to now this yr. Nio’s inventory is down greater than 25% year-to-date.

Chinese language electrical battery and automobile maker BYD stated in Might it produced 1 million passenger cars in the new energy vehicle category, which incorporates battery-only and hybrid-powered vehicles.

BYD’s Hong Kong-traded shares are up greater than 25% up to now this yr. The corporate’s backers embrace American billionaire Warren Buffett’s Berkshire Hathaway.