Some numbers for China EVs
$xpev, total number of EV deliveries as of Nov 2020 is 21,341. Market cap today is around 40B.
$nio, total number of EV deliveries as of Nov 2020 is 36,721. Market cap today is around 97B.
$li, total number of EV deliveries as of Nov 2020 is 26,498. Market cap today is around 32B.
So if you simply take the market cap and divide the number by their first 11 months of 2020 delivery number then you'll see that Nio is a lot more expensive than the other two. Also if you look at the chart it seems that $xpev delivery number is growing in a parabolic, while the Nio chart looks like linear growth at best. So maybe that means Xpev is having a better time selling their products than Nio.
Also in case you don't know Nio's EV is around 30% more expensive than a Tesla, and $xpev EV is around 30% cheaper than a Tesla. In my opinion if you can afford a Tesla you'd just go get a Tesla. So I am not sure how Nio's pricing model would work eventually but I think maybe xpev has a shot to take on Tesla eventually within China. Also because of their lower pricing it might be easier for them to collect driving data that subsequently improves their autopilot. So I see that as a clear advantage over Nio.
chart source: https://finance.sina.com.cn/tech/2020-12-09/doc-iiznctke5533079.shtml