Summary
- Li Auto and Zeekr, Chinese new energy vehicle brands, both reported record deliveries in September
- Li Auto delivered 53,709 cars, which was more than 5% higher than their previous record in July
- Zeekr, owned by Geely, delivered 21,333 electric vehicles in September
- Other competitors like Nio, BYD, Xiaomi, and Aito had not yet released their September delivery numbers
- Xpeng also achieved a record with 21,352 electric car deliveries in September, including a mass market model priced lower than Tesla’s Model Y SUV
Article
In September, Chinese new energy vehicle brands Li Auto and Zeekr both achieved record delivery numbers, according to company data released on Tuesday. Li Auto delivered 53,709 vehicles, surpassing a previous high reached in July by over 5%. Li Auto’s vehicles come equipped with a fuel tank to extend the battery’s driving range. Geely-owned electric car company Zeekr also reported a record delivery of 21,333 vehicles in September. Other prominent Chinese electric vehicle brands, such as Nio, BYD, Xiaomi, and Aito, had not yet released their September delivery numbers as of Tuesday afternoon.
New energy vehicles, which include hybrids and battery-powered vehicles, have been gaining popularity in China, accounting for more than half of new passenger cars sold in the country in July and August. Xpeng, another Chinese electric vehicle manufacturer, also achieved a record in September with 21,352 electric car deliveries, including over 10,000 units of its Mona brand’s M03 coupe, which was launched in late August. These new models from Chinese competitors are priced lower than comparable Tesla models. For example, the Tesla Model Y SUV retails at 249,900 yuan and the Model 3 starts at 231,900 yuan. Despite earlier price cuts this year, Tesla has maintained its prices throughout the summer.
The Chinese markets were closed for a holiday on Tuesday, with Hong Kong set to reopen on Wednesday and mainland markets resuming trading on October 8th. The September delivery records put Li Auto and Xpeng on track to exceed their previously announced delivery forecasts. Zeekr fell slightly short of reaching its monthly minimum average needed to achieve an annual goal. Chinese new energy vehicle brands are competing fiercely with each other and Tesla in the rapidly growing electric vehicle market in China.
The success of Li Auto, Xpeng, and Zeekr in September demonstrates the growing demand for new energy vehicles among Chinese consumers. With government support and incentives for electric vehicle purchases, the market for electric cars in China is expanding rapidly. Chinese electric vehicle manufacturers are focusing on offering competitive prices and innovative features to attract more customers. The recent record deliveries by Li Auto, Xpeng, and Zeekr indicate strong growth potential for these companies in the Chinese electric vehicle market.
The competition between Chinese electric vehicle brands and Tesla is intensifying, as companies like Li Auto, Xpeng, and Zeekr continue to innovate and expand their product offerings. The lower prices of Chinese electric vehicles compared to Tesla models have made them more accessible to a wider range of consumers. The success of Li Auto and Xpeng in surpassing their delivery forecasts in September highlights the strong demand for electric vehicles in China. As the market continues to grow, Chinese electric vehicle manufacturers are expected to play a significant role in shaping the future of the global electric vehicle industry.
Overall, the record delivery numbers achieved by Chinese new energy vehicle brands Li Auto, Xpeng, and Zeekr in September underscore the increasing popularity of electric vehicles in China. With government support and a growing market for electric cars, Chinese electric vehicle manufacturers are positioned for further growth and success in the future. The competition between Chinese brands and Tesla in the electric vehicle market reflects the dynamic nature of the industry and the innovative approaches taken by these companies to meet the evolving needs of consumers. The strong performance of Li Auto, Xpeng, and Zeekr in September signals a promising future for the electric vehicle market in China.
Read the full article here
