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Chinese Electric-Car Majors Report Robust July Sales

By Ding Yi / Aug 03, 2021 03:58 PM / Business & Tech

China’s three U.S.-listed electric-car makers all reported healthy sales numbers in July, in a demonstration of consumers’ continued growing demand for homegrown new-energy vehicles.

New York Stock Exchange-listed Nio delivered 7,931 vehicles in July, representing a year-on-year increase of 124.5%, the company said in a statement on Monday.

Rival Xpeng, which made a dual primary listing in Hong Kong earlier this month following its New York listing last August, said on Sunday that it achieved its highest ever monthly deliveries of 8,040 vehicles in July, up 228% year-on-year.

Nasdaq-listed Li Auto, which is moving toward a secondary listing in Hong Kong from which it is looking to raise as much as HK$15 billion ($1.93 billion), saw its July sales jump 251.3% year-on-year to 8,589 Li ONEs, a monthly sales record since the company began delivering its sole model in December 2019.

The strong gains in July come as a number of electric-vehicle makers ramp up their manufacturing capacities in China as favorable policies are rolled out to promote the development of the industry.

Xpeng last week started building a new plant in the Chinese central city of Wuhan designed to have an annual capacity of 100,000 vehicles, a move that came months after it began delivering its G3 SUVs to customers in Norway.

Nio also has global aspirations. Earlier this month, the Shanghai-based company started shipping the first batch of its flagship ES8 SUVs to Norway after being allowed to provide power swapping and charging services in the EU.

Related: Tesla Wannabe Xpeng Begins Building New Factory in Central China

Contact reporter Ding Yi (yiding@caixin.com) and editor Heather Mowbray (heathermowbray@caixin.com)

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