Chinese Electric Car Companies Meet Third Quarter Guidance with Strong August Deliveries
Chinese electric car companies Nio, Xpeng, and Li Auto have announced that they delivered enough vehicles in August to meet their third quarter guidance. These companies are all listed in the U.S.
Li Auto led the pack with 34,914 car deliveries in August, surpassing the forecasted range for the third quarter. The company also delivered 800 more cars compared to July. Li Auto’s vehicles are not purely electric as they come with a fuel tank to extend the battery’s range.
Nio delivered 19,329 vehicles in August, slightly lower than July but within the forecasted range for the July to September period.
Xpeng Lags Behind with 13,690 Car Deliveries in August
Xpeng delivered 13,690 electric cars in August, following around 11,000 deliveries in the previous month. More than half of the deliveries were of the company’s new G6 coupe SUV, and cumulative deliveries of the G6 have now exceeded 11,000 units. Xpeng foresees monthly deliveries between 13,000 and 13,667 cars for the third quarter.
Last week, Xpeng announced its acquisition of Didi’s smart car assets to develop a mass market electric car for launch next year. Nio also expressed plans to enter the mass market under a separate brand in the second half of next year.
BYD Dominates the Chinese Electric Car Market
BYD, a Chinese electric car giant, already operates in the mass market and is expanding into the premium price range. In August, BYD sold 145,627 purely battery-powered passenger cars, surpassing July’s sales figures. Additionally, GAC’s Aion electric car brand reported 52,057 deliveries in August, outselling the three startups mentioned above. Aion offers both premium-priced cars and more affordable models.
In July, BYD, Aion, and Li Auto overtook Tesla China in terms of monthly retail sales, according to China Passenger Car Association data.
On Friday, Tesla introduced a new, pricier version of its Model 3 car with an extended driving range.