Shares of XPeng Inc. XPEV, +2.26% hiked up 4.6% in premarket trading Monday, after the China-based electric vehicle maker reported a near six-fold increase in January deliveries. The company said overnight that it delivered 6,015 vehicles in January, up 470% from the same period a year ago, and to mark the third straight month of record deliveries.
The deliveries included 3,710 P7 smart sports sedans and 2,305 G3 smart compact SUVs. XPeng’s report comes as fellow China-based EV maker Nio Inc. NIO, -0.02% reported a 352% increase in January deliveries to 7,225 vehicles. Xpeng’s stock has soared 148.6% over the past three months through Friday, while Nio shares have run up 86.4% and the S&P 500 SPX, +1.61% has gained 13.6%.