Citigroup: Chinese car companies' electric vehicle orders rose 48% weekly last week, and Ideal Automobile-W (02015) and Zero Sports (09863) outperformed

Zhitongcaijing · 1d ago

The Zhitong Finance App learned that Citi released a research report saying that dealer inspections showed that overall electric vehicle orders from Chinese automakers rose 48% weekly last week (October 26 to November 1), which was better than expected, which meant that industry orders rose 4% month-on-month in October.

The bank pointed out that Ideal Automobile-W (02015) was driven by its launch of the upgraded i6 on October 28; and Xiaopeng Group-W (09868), which increased 240% on a weekly basis, due to the launch of the MONA L05 on October 29. On a month-on-month basis, Geely Auto (00175) Galaxy/Zero Sports (09863) /Ideal/Xiaopeng/Jikrypton outperformed, rising 39%, 33%, 18%, and 16% month-on-month respectively.

According to the bank, positive month-on-month and year-on-year growth were both ideal (33% month-on-month increase, 9% year-on-year increase) and zero run (36% month-on-month increase, 42% year-on-year increase). Lithium prices fell 22% month-on-month, relieving some of the upward pressure on costs.