China’s EV Big Three Bounce Back With Strong June Sales

China’s big three electric vehicle makers – XPeng, Li Auto, and Nio – all saw their June deliveries surge past the 10,000 mark, as they bounced back from the supply chain disruptions brought on by China’s Covid lockdowns.

Guangzhou-based XPeng shipped 15,295 EVs last month, up a whopping 133% over a year ago, bringing its first-half total to 68,983, up 124% year-on-year.

XPeng is leading the pack in sales for the fourth quarter running. Its factory in Zhaoqing in southern Guangdong province has been running on a 20-hour-a-day rush schedule since May to meet the buoyant demand.

Beijing-based Li Auto, with only one e-SUV model – the Li Auto One – currently in mass production, delivered 13,024 units in June, setting a new monthly record, up 68.9% yoy. Its half-year total was 60,403, compared with 30,154 a year ago.

While Shanghai-based Nio delivered 12,961 EVs last month from its plant in Hefei in eastern China, up 60.3% yoy. Its half-year total increased 21.1% over a year ago to 50,827. Nio’s deliveries dipped to 5,000 in April.

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“Almost all major EV makers in China have recovered from the production woes thanks to the reopening of Shanghai and other cities with big clusters of manufacturers and suppliers,” said Huang Leping, a senior EV analyst with Nanjing-based Huatai Securities.

“China’s total EV sales are on track to hit 5.23 million in 2022, compared with 2021’s 3 million,”

Nio, sometimes dubbed as China’s Tesla, is also counting down to the inauguration of a new plant in Heifei in the third quarter. The new base will add an extra annual capacity of 500,000 EVs as it plays catch-up with XPeng and Li Auto.

But Hozon, a smaller low-cost EV maker based in Zhejiang province looking to challenge Li Auto and Nio, again outsold the better-known pair with its June and first-half deliveries hitting 13,157 and 63,131.

By Frank Chen

Lockdowns Hammer China EV Deliveries at Li Auto, Nio, Xpeng

Frank Chen

Frank Chen is an Asia Financial correspondent who covers China business and finance with a special focus on market indexes. He has a keen interest in real estate, transport, infrastructure and consumer brands. He spends time in Shanghai and Hong Kong and speaks Mandarin, Cantonese, and English.