Written by Cláudio Afonso | info@claudio-afonso.com
Xpeng ($XPEV) shares fell 6.96% on Tuesday’s session while Li Auto ($LI) shares finished with a slight loss of 0.10% at $30.42 per share. This 6.86% gap between the two Chinese EV makers let Li Auto surpass Xpeng in Market Cap value — $31.42 Billion vs $28.981B. Li Auto is now only $3.5 Billion away from surpassing Nio. The company is currently the 18th biggest Automaker by Market Cap (non-EVs included).
Why did it happen?
Li announced yesterday that the company delivered 8,414 Li ONEs in February 2022, up 265.8% year over year bringing the cumulative deliveries up to 144,770 units since the vehicle’s market debut. The company showed great numbers despite the Holiday season in China delivering around 2,000 more vehicles than Xpeng or Nio in the same period. On the trading session right after Monthly deliveries numbers, Nio and Xpeng traded around 5% and 7% lower, respectively. Li Auto traded flat (down 0.10%) and is currently up 2% at $31.00 per share, as of 09:44 EST March 2nd.
Market Cap and Shares Outstanding as of March 1st
- Xpeng has 856.42 Million shares out with a current price of $33.84 per share, which results in a Market Cap value of $28,981 Billion.
- Li Auto has 1.032 Billion shares out with a current price of $30.42 per share, which results in a Market Cap value of $31,42 Billion.
- NIO has 1.59 Billion shares out with a current price of $33.84 per share, which results in a Market Cap value of $28,981 Billion.
Li Auto released its Earnings Report last week, and Mr. Xiang Li (Li’s Founder) gave some updates:
“In December 2021, we introduced the OTA 3.0 update to all our Li ONE users, which features our full-stack self-developed NOA and full AEB functions enhanced by vision perception algorithm to enable safer and easier driving. It made us the third automaker in the world capable of full-stack self-development of NOA. Due to its outstanding AEB performance, Li ONE was awarded Champion of the Year 2021 accolade during a third-party AEB test, where it was the only assessed model capable of accurately identifying crossing vehicles and two-wheelers, demonstrating our strong ADAS R&D capabilities. As of January 31, 2022, we provided NOA to over 70,000 family users. In 2022, we will remain focused on R&D investment, further elevating our capabilities to provide our users with products and services that offer greater safety, convenience and comfort.”
In December 2021, the Company agreed to establish a strategic cooperation framework with the Chongqing municipal government to build its Chongqing manufacturing base in the Liangjiang New Area. The addition of this manufacturing base will further enhance the Company’s ability to meet increasingly strong market demand and cement its foundation for continued growth.
Written by Cláudio Afonso | info@claudio-afonso.com