Chart of the Day: Leapmotor Leads Chinese EV Upstarts
00:00/00:00
Listen to this article
1x
Subscribe now
Listen to the full version
Listen to the full version
Zhejiang Leapmotor Technology Co. Ltd. led in sales among China’s electric vehicle (EV) upstarts in the first half of this year, edging past rivals in an industry that remains dogged by intense price competition.
During the six months, Leapmotor delivered 221,664 vehicles, more than doubling the number from the same period last year, according to company data.
Leapmotor Leads China’s EV Upstarts
The performance marks a U-turn for Leapmotor, which was rarely seen as being one of China’s main EV upstarts just a few years ago and comes as the Hangzhou-based carmaker is expanding sales and manufacturing overseas.
You've accessed an article available only to subscribers
VIEW OPTIONS
Unlock exclusive discounts with a Caixin group subscription — ideal for teams and organizations.
Subscribe to both Caixin Global and The Wall Street Journal — for the price of one.
- RELATED
Share this article
Open WeChat and scan the QR code
- DIGEST HUB
Digest Hub
Back
Explore the story in 30 seconds
- Leapmotor led China’s EV upstarts in H1 2025, delivering 221,664 vehicles, more than doubling last year’s figure.
- XPeng delivered 197,189 vehicles (up 279% YoY); Li Auto delivered 203,938 (up 8% YoY); Nio delivered 114,150 (up 31% YoY).
- Xiaomi sold about 150,000 EVs; Huawei’s HIMA alliance sold 153,705 units (partial data, most were Aito EVs).
AI generated, for reference only
Who’s Who
- Zhejiang Leapmotor Technology Co. Ltd.
- Zhejiang Leapmotor Technology Co. Ltd. led sales among China's EV upstarts in the first half of this year, delivering 221,664 vehicles. This more than doubled their sales from the same period last year. The Stellantis NV-backed company is expanding sales and manufacturing overseas and narrowed its first-quarter net loss significantly, aiming for an annual profit.
- Stellantis NV
- Stellantis NV is an international automotive manufacturing corporation that has backed Zhejiang Leapmotor Technology Co. Ltd. This backing has contributed to Leapmotor's strong performance in early 2025, as the Chinese EV upstart narrowed its first-quarter net loss significantly.
- Li Auto Inc.
- Li Auto Inc. sold 203,938 vehicles in the first half of the year, an 8% increase year-on-year. They currently offer four extended-range hybrid SUVs and the Mega EV, with plans to expand to 11 models by year-end, including two new pure electric SUVs.
- XPeng Inc.
- XPeng Inc. saw a significant 279% year-on-year increase in deliveries, reaching 197,189 vehicles in the first half of the year. Chairman He Xiaopeng anticipates the company will achieve its first quarterly profit by the final quarter of 2025.
- Xiaomi Corp.
- Xiaomi Corp., a smartphone giant, entered the EV market with its SU7 sedan in April last year. It reported approximately 150,000 vehicle sales in the first half of this year, already surpassing its entire 2024 shipments. Xiaomi launched its second model, the YU7 SUV, last month and aims to sell 350,000 vehicles in 2025.
- Huawei Technologies Co. Ltd.
- Huawei Technologies Co. Ltd. develops electric vehicles (EVs) through its Harmony Intelligent Mobility Alliance (HIMA) partnerships. The company reported EV sales figures for January, February, May, and June, totaling 153,705 vehicles. The majority of these sales were Aito EVs, a brand established with Seres Group Co. Ltd. in 2021.
- Seres Group Co. Ltd.
- Seres Group Co. Ltd. is an automaker that partnered with Huawei Technologies Co. Ltd. in 2021 to establish the Aito EV brand. The vast majority of Huawei's EV sales in early 2025 were Aito EVs.
- Nio Inc.
- Nio Inc. sold the fewest cars among the mentioned Chinese EV upstarts in the first half of the year, delivering 114,150 units. This represents a 31% year-on-year increase. Nio has set an ambitious sales target of approximately 440,000 vehicles for 2025, aiming to nearly double its previous year's sales.
AI generated, for reference only
What Happened When
- April 2024：
- Xiaomi Corp. started delivering its first model, the SU7 sedan.
- January 2025：
- Huawei reported EV sales as part of its disclosed figures for this month.
- February 2025：
- Huawei reported EV sales as part of its disclosed figures for this month.
- Q1 2025：
- Leapmotor narrowed its net loss by more than 80% year-on-year to 130 million yuan.
- May 2025：
- He Xiaopeng, chairman of XPeng, stated that he expected XPeng to report its first quarterly profit in the final quarter of 2025.
- May 2025：
- Huawei reported EV sales as part of its disclosed figures for this month.
- June 2025：
- Xiaomi Corp. launched its second model, the YU7 SUV.
- June 2025：
- Huawei reported EV sales as part of its disclosed figures for this month.
- January to June 2025：
- Leapmotor delivered 221,664 vehicles, more than doubling its deliveries from the same period in 2024.
- January to June 2025：
- Li Auto Inc. sold 203,938 vehicles, an 8% year-on-year increase.
- January to June 2025：
- XPeng Inc. delivered 197,189 vehicles, up 279% year-on-year.
- January to June 2025：
- Xiaomi Corp. sold around 150,000 vehicles.
- January to June 2025：
- Nio Inc. delivered 114,150 vehicles, up 31% year-on-year.
AI generated, for reference only
- PODCAST
- MOST POPULAR
Sign in with Google
Sign in with Facebook
Sign in with 财新