EV start-ups Li Auto, Nio and Xpeng all see strong sales in September as price war, new models, expanded charging network re-ignite demand
Three of China’s top electric vehicle (EV) makers have reported strong sales for the month of September, benefiting from an expanding charger network and a price war earlier this year that rekindled demand in the world’s biggest EV market.
Beijing-based Li Auto, Shanghai-headquartered Nio and Guangzhou’s Xpeng are all considered top competitors to Tesla in the premium EV market.
Li Auto said it delivered 36,060 vehicles in September, up 3.3 percent from the previous month and 212.7 percent over the same month a year earlier, as it delivered several new models and expanded its charging network.
It was the sixth month in a row that the company had broken its own sales records.
Li shipped 105,108 vehicles in the third quarter, up 296.3 percenet from the same period a year earlier, and delivered 244,225 vehicles to customers for the year up to September.
Monthly deliveries for the firm’s L Series were above 10,000 for the second month in a row, said company chair and chief executive Xiang Li.
The firm said it had constructed more than 100 charging stations along highways around China.
“Driven by the ever-increasing market demand, we made numerous historic breakthroughs in September,” Xiang said in a statement.
Xpeng delivered 15,310 EVs in September, up 12 percent from August and 81 percent year-on-year, with deliveries continuing to rise every month since February.
Total EV deliveries from July to September amounted to 40,008 units, up 72 percent from the second quarter.
Nio delivered 15,641 vehicles in September, up 43.8 percenet year-on-year but down 19 percent from August.
The company sold 55,432 vehicles in the third quarter, up 75.4 percent year-on-year, and delivered 399,549 EVs in the first nine months of 2023.
Tesla, which is to release its third-quarter figures later on Monday, delivered 64,694 vehicles from its Shanghai plant in August, up 87.5 percent year-on-year and 105.9 percent from July, according to the China Passenger Car Association.
Consultancy firm Shanghai Mingliang Auto Service said China’s three biggest EV start-ups were seeing stronger demand due to a fast-expanding charging network and launches of new models with intelligent features.