Ralf Hahn The holiday-shortened trading week fared better for electric vehicle makers NIO (NYSE:NIO), Li Auto (NASDAQ:LI), and XPeng (NYSE:XPEV), compared to the broader market, as the Chinese start-ups posted double-digit growth in sales numbers for June. For the week, NIO, Li Auto, and XPeng rose 11.06%, 14.43%, 8.05%, respectively, while the S&P 500 index rose 1.95%. Since the start of the year, these Chinese EV stocks have lost between 42% to 49% of their value. Investors showed new enthusiasm in the industry as sector behemoth Tesla (TSLA) beat analyst expectations for its quarterly deliveries. Also, last week, Rivian (RIVN) announced a $5 billion investment from Volkswagen (OTCPK:VLKAF) and a joint venture to work on electrical architecture and software. Electric vehicle stocks have been pressured in recent times as consumer demand has remained subdued due to high borrowing costs and an uncertain economy. In June, NIO delivered 21,209 vehicles, representing an increase of 98.1% year over year. Meanwhile, XPeng delivered 10,668 Smart EVs in June, representing a 24% increase Y/Y and up 5% M/M. Li Auto delivered 47,774 vehicles in June 2024, a 46.7% increase from last year. Since a dip in sales in February, both XPeng and NIO have continued to post a month-on-month jump in their vehicle output. Meanwhile, Li Auto witnessed a drop in sales in April, but has increased its deliveries since the last two months. XPeng and NIO also saw a dip in their year-on-year growth pace in June. On the other hand, Li Auto, which already outsells its two peers, doubled its year-on-year growth pace to 46.7% in June.