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Chinese Xpeng and Nio make 100,000 electric cars in less time than Tesla

Xpeng Motors launches the P5 sedan at an occasion in Guangzhou, China on April 14, 2021. The P5 is Xpeng’s third manufacturing mannequin and options so-called Lidar technology.

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

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

Rival electric automobile start-up Nio mentioned in April it reached that 100,000 automobile manufacturing milestone. The U.S.-listed company was based in late Nov. 2014 underneath a special 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 autos, according to public filings. Tesla has confronted quite a few manufacturing delays, particularly in its early years. The U.S.-based electric automobile maker has since elevated its manufacturing capability with new factories in Shanghai an Berlin.

To be clear, Tesla remains to be a lot bigger in comparability.

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

Production in the third quarter alone reached 238,000 autos. The company’s shares are up 11% year-to-date.

Xpeng’s U.S.-listed shares are down 12% to this point this year. Nio’s stock is down extra than 25% year-to-date.

Chinese electric battery and automobile maker BYD mentioned in May it produced 1 million passenger cars in the new energy vehicle category, which incorporates battery-only and hybrid-powered cars.

BYD’s Hong Kong-traded shares are up extra than 25% to this point this year. The company’s backers embrace American billionaire Warren Buffett’s Berkshire Hathaway.

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