As a rival to Tesla's (TSLA) Model Y, XPeng (XPEV) new G6 electric SUV started shipping on Monday.

as the cornerstone of the struggling Chinese startup's recovery. XPeng stock attempted to increase. Nio stock rose.

The rise in output will be crucial. As XPeng tries to increase capacity, as of July 6 the wait period for the G6 was 10 weeks, according to reports from early July.

In a note to investors dated May 31, Deutsche Bank analyst Edison Yu stated that the G6 debut was imminent.

In a note to investors dated May 31, Deutsche Bank analyst Edison Yu stated that the G6 debut was imminent.

Nio (NIO), a startup competitor of XPeng, stated on July 1 that its June EV sales significantly increased as a result of new models.

Among them was the ES6 SUV, which was its best-selling model.

The ES6 was introduced by Nio on May 24 and deliveries started the same day. The "speedy ramp up" of its ES6 SUV helped to increase its sales in June.