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 expertise.

Arjun Kharpal | CNBC

GUANGZHOU, China — Xpeng Inc. stated it delivered greater than 10,000 automobiles in October, sending its Hong Kong shares greater on Monday.

The electrical automobile maker delivered 10,138 automobiles final month, down from 10,412 in September. Still, that represented a 233% year-on-year improve and the second-straight month the place Xpeng delivered greater than 10,000 automobiles.

Xpeng’s Hong Kong-listed shares have been about 3% greater in afternoon commerce.

Automakers internationally have been combating a scarcity in semiconductors that has constrained some firms’ skills to ship automobiles. Xpeng seems to be weathering that effectively. The firm has beforehand stated that the chip scarcity impression is “restricted.”

October deliveries included 6,044 models of Xpeng’s P7 flagship sedan, representing a 187% year-on-year improve. Xpeng stated it delivered 3,657 models of its G3 and G3i sports activities utility automobile, reaching a month-to-month document because the automobile’s launch in December 2018.

Xpeng additionally stated it delivered 437 models of its P5 sedan, which formally launched in September.

Read extra about electrical automobiles from CNBC Pro

The firm stated its cumulative deliveries have exceeded 100,000 as of the tip of October. This 12 months alone, the corporate has delivered 66,542 automobiles, a 289% year-on-year rise.

Xpeng faces rising competitors in China’s electrical automobile market from different start-ups like Nio and Li Auto in addition to incumbents like Warren Buffett-backed BYD and Elon Musk’s Tesla. But there have additionally been some new challengers hoping to crack the electrical automobile market. Xiaomi, which is most well-known for smartphones, stated it plans to mass produce electrical automobiles within the first half of 2024.

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