Xpeng

Between November 1 and November 12, Nio vehicles had 5,700 insurance registrations in China, Xpeng 6,100, Li Auto 15,400, and Tesla 22,900.

October was the first full month of deliveries for the updated G9 since its launch on September 19, and monthly deliveries were an all-time high for the model.

"In light of China's EV market remaining ultra competitive for the foreseeable future, Xpeng's strategy continues to resonate well with us, making the stock our Top Pick in the group," Deutsche Bank said.

Automakers usually provide high forecasts to their supply chain, while suppliers make their own judgments based on the competitiveness of the vehicle models and the operating results of the car companies.

Nio's insurance registrations were down 8.7 percent last week compared to the previous week, Xpeng was down 18.97 percent and Li Auto was down 14 percent as deliveries are usually slow at the beginning of the month.

Xpeng launched two new variants of the P7i with a CLTC range of 550 kilometers at a reduced starting price of RMB 223,900.

Xpeng made a filing earlier this year for the P7 with an LFP battery pack, with cell supplier Eve Energy.

The G6 contributed 43.7 percent of Xpeng's deliveries in October, down from 53.12 percent in September, implying that some of the company's other models may have seen a significant uptick in deliveries last month.

Between October 1 and October 29, insurance registrations were 14,100 for Nio, 15,200 for Xpeng, 36,800 for Li Auto and 27,300 for Tesla in China.

Xpeng delivered 40,008 vehicles in Q3, within guidance range, with new SUV G6 contributing 48.6 percent.