XPeng

According to the data released by NIO, Li Auto and XPeng at the beginning of November, they delivered a total of 11,781 new cars in October, surpassing the average monthly sales record of China-made Model 3.

Four weeks ago, JP Morgan sharply raised NIO price target from $14 to $40, representing a 85% upside potential at that time.

Retail sales in China's passenger car market reached 1.992 million units in October, up 8.0% year-on-year, achieving a nearly two-year high growth rate of 8% for four consecutive months, data released today by the China Passenger Car Association (CPCA) showed.

Recently, Shanghai has tightened restrictions on vehicles with license plates from other provinces and cities, making a large number of users start to consider buying new energy vehicles with local license plates, especially those from Tesla, NIO, and XPeng.

Shares of US-traded Chinese electric car makers - NIO, XPeng, and Li Auto - all rose sharply as Citi issued a bullish report.

NIO's shares surged 6.54 percent to $35.50 on Tuesday, giving it a market capitalization of $48.3 billion, surpassing Frankfurt-listed BMW's €39.8 billion ($46.5 billion).

NIO's reported 'Marco Polo Project' and XPeng's move to export to Europe means that, for Chinese EV makers, they are already targeting overseas markets, even though the domestic market is only just emerging.

Chinese electric car company XPeng Motors (NYSE: XPEV) delivered 3,040 units in October, an increase of 229% year-on-year, and reached over 3,000 units for the second consecutive month.

NIO, Li Auto, XPeng, and WM Motor are the stars of the current crop of China's emerging electric car companies, and NIO in particular has recently gained popularity in the capital markets.

NIO and XPeng, two of the leading companies in the new Chinese car manufacturing industry, have a skill set previously reserved for Tesla.