Leading Chinese EV trio Xpeng, NIO and Li Auto post record month, triple-digit rise in November deliveries
- The three firms’ performance shows that young drivers are increasingly keen on EVs, analyst says
- China Passenger Car Association has forecast that NEV deliveries will top a record 2.4 million cars this year
China’s three leading electric vehicle (EV) start-ups posted a record number of deliveries for November, amid a surge in demand for premium EVs.
“The delivery data adds to evidence that China’s EV market is now growing at a fast pace,” said Gao Shen, an independent analyst in Shanghai. “[The three EV companies’] rosy performance shows that young drivers are increasingly keen on EVs, rather than conventional cars.”
The China Passenger Car Association (CPCA) has forecast that NEV deliveries would top 2.4 million cars this year.
November was the third consecutive month of 10,000-plus deliveries for Xpeng. The month represented a turnaround for NIO, which delivered only 3,667 cars in October. Li Auto, meanwhile, broke a record of 9,433 deliveries set in August.
These three start-ups, with their high-end EVs that come fitted with high-performance batteries, sophisticated in-car entertainment systems and driver-assistant technologies, are believed to have the potential to compete against Tesla. The US carmaker has over the past two years been a runaway leader in China’s premium EV segment.
The following month, however, of the 54,391 vehicles that rolled out of the US carmaker’s Gigafactory 3 in Shanghai’s Lingang free-trade zone, only 13,725 were delivered to mainland Chinese buyers, according to CPCA.
Tesla had to export most of its made-in-Shanghai vehicles in October to meet demand elsewhere, after the global chip shortage made it difficult for its other plants to sustain production, said a sales manager with Tesla, who asked not to be identified.
CPCA has not published data for Tesla for November yet.