Tesla took 12 years to build 100,000 cars. China’s Xpeng and Nio took about half that time

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  • US-listed start-up Xping said on Monday it has produced 100,000 cars – six years after the company’s launch.
  • Its rival electric car start-up Nio said in April that it had reached the 100,000 vehicle production milestone.
  • For comparison, according to public filings, Elon Musk’s Tesla took 12 years from the company’s launch in 2003 to producing 100,000 vehicles.

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BEIJING: Chinese electric car companies are rushing to ramp up production faster than Tesla was in its early days.

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US-listed start-up Xpeng said on Monday that it has 100,000 cars produced This comes six years after the company was launched.

Rival electric car start-up Nio said in April that it had reached the 100,000 vehicle production milestone. The US-listed company was founded in late November 2014 under a different name, and became Nio nearly four years earlier in July 2017.

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For comparison, Elon Musk’s Tesla took 12 years to produce 100,000 vehicles since its launch in 2003, According to a public filing. Tesla has faced several production delays, especially in its early years. The US-based electric car maker has since expanded its production capacity with new factories in Shanghai and Berlin.

To be clear, Tesla is still a lot bigger in comparison.

Electric car maker crossed 1 millionth car mark in March 2020 as compared to a year ago Musk said in a tweet.

Production reached 238,000 vehicles in the third quarter alone. The company’s shares are up 11% year-over-year.

US-listed shares of Xpeng are down 12% so far this year. Nio’s stock is down more than 25% year-over-year.

Chinese electric battery and vehicle maker BYD said in May that it produced 10 lakh passenger cars in the new energy vehicle category, That includes only battery-powered and hybrid-powered cars.

Hong Kong-traded shares of BYD are up more than 25% so far this year. Backers of the company include American billionaire Warren Buffett’s Berkshire Hathaway.

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