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Nio, XPeng stocks surge after EV delivery data

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Shares of China-based electric-vehicle makers surged Monday, after they reported June deliveries that showed big jumps from May.

The rallies come after EV giant Tesla Inc. TSLA, which generates a significant percentage of its sales from China, also reported deliveries that beat expectations by wide margins.The rallies come after EV giant Tesla Inc. TSLA , which generates a significant percentage of its sales from China, also reported deliveries that beat expectations by wide margins.The company reported over the weekend that it delivered 10,707 EVs in June, up 74.0% from May, but down 17.4% from a year ago.

The company reported 8,620 vehicles in June, up 14.8% from May, to mark a fifth-straight month of gains, but June deliveries were down 43.6% from a year ago. Li Auto Inc. shares LI charged up 6.5% toward a near one-year high, after the Beijing-based company reported June deliveries of a monthly record of 32,575 EVs, up 15.2% from May and up 146.0% from last year.

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