Chinese electric car majors report strong sales in July

China’s three U.S.-listed electric car makers all reported healthy sales figures in July, demonstrating growing consumer demand for local new energy vehicles.

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

Rival Xpeng, who made a double main entry in Hong Kong earlier this month after entering New York last August, said on Sunday he achieved its highest monthly deliveries on record with 8,040 vehicles in July, up 228% year on year.

Nasdaq-listed Li Auto, which is heading for a secondary listing in Hong Kong from which it seeks to raise up to HK $ 15 billion ($ 1.93 billion), saw July sales jump 251.3% yoy to 8,589 Li ONE, a monthly sales record since the company began shipping its one-off model in December 2019.

July’s strong gains come as a number of electric vehicle manufacturers increase their manufacturing capacity in China as favorable policies are put in place to promote the industry’s development.

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

Nio also has global aspirations. Earlier this month, the Shanghai-based company began shipping the first batch of its ES8 flagship SUVs to Norway after being cleared to provide electricity swap and recharge services in the EU.

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

Contact reporter Ding Yi ([email protected]) and editor Heather Mowbray ([email protected])

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Anne G. Cash