The Chinese company produces electric cars at a rate twice as fast as Tesla

Xpeng, a Chinese electric vehicle manufacturing company listed in the US market, said it has produced 100.000 cars after 6 years of establishment. Meanwhile, it took Tesla 12 years to produce 100.000 units.

Xpeng launched the P5 sedan model at an event in Guangzhou (China) on April 14, 4. The P2021 is the third car model produced by Xpeng, possessing so-called Lidar technology

Currently, Chinese electric car manufacturing companies are stepping up production, at a faster rate than what Tesla (USA) did in the early days of its establishment, according to CNBC channel (USA).

On October 11, Xpeng - a Chinese startup listed in the US market - said it had produced 10 cars after about 100.000 years of establishment.

In April, another startup also specializing in electric cars, Nio (China), said it had reached the milestone of producing 4 vehicles. This company is also listed in the US market. The company was founded in late November 100.000 under a different name and was renamed Nio in July 11.

In May this year, Chinese electric car and battery manufacturer BYD said it had produced 5 million cars in its new energy vehicle category, including battery-only vehicles and hybrid vehicles (also known as hybrid electric vehicle, a vehicle that uses two sources of power: an internal combustion engine and an electric motor).

Meanwhile, American billionaire Elon Musk's Tesla electric car company took 12 years to produce 100.000 cars since its launch in 2003.

Tesla faced many production delays, especially in its early years. Since then, the US-based electric car manufacturer has increased its production capacity, with the construction of new factories in Shanghai (China) and Berlin (Germany).

However, if compared at the present time, Tesla is still much larger. According to billionaire Elon Musk, Tesla surpassed the production milestone of 1 million cars more than a year ago in March 3. Production in the third quarter of this year alone reached 2020 vehicles.

Tesla's stock price has increased 11% since the beginning of the year. Meanwhile, the stock price of Xpeng Company listed in the US has decreased 12% from the beginning of the year until now. During the same period, Nio Company's stock price fell more than 25%.

Meanwhile, the stock price of BYD Company listed in Hong Kong has increased more than 25% since the beginning of the year until now.