Chinese EV companies Zeekr and Nio report record deliveries in June

BEIJING
—
Chinese
electric
car
company


Zeekr
said
Monday
it
delivered
a
record
number
of
vehicles
in
June,
making
its
deliveries
for
the
first
half
of
the
year
the
largest
among
U.S.-listed
Chinese
companies
only
selling
pure
electric
cars.

Geely-owned
Zeekr
delivered
20,106
cars
last
month,
bringing
year-to-date
deliveries
to
87,870
vehicles.

That’s
slightly
more
than


Nio‘s
87,426
deliveries
for
the
first
six
months
of
2024,
although
Nio
continued
to
recover
from
sluggish
performance
earlier
in
the
year
with
a
record
21,209
deliveries
in
June.

Xpeng
remained
a
laggard,
delivering
52,028
cars
in
total
in
the
first
six
months
of
the
year,
including
10,668
vehicles
in
June.

When
including
hybrid
vehicles,


Li
Auto
remained
by
far
the
leader.
It
delivered
47,774
cars
in
June,
for
a
first-half
total
of
188,981
vehicles.
Most
of
the
company’s
cars
come
with
a
fuel
tank
to
extend
the
battery’s
driving
range.

Shares
of
Zeekr
fell
by
3.2%
in
U.S.
trading
overnight,
while
Li
Auto
and
Nio
both
saw
shares
rise
by
more
than
6%.
Xpeng
shares
rose
by
nearly
5.2%.

Also
offering
hybrids,
Huawei’s
jointly
developed
Aito
brand
with
car
manufacturer
Seres
delivered
184,286
vehicles
in
the
first
six
months
of
the
year.

Smartphone
and
home
appliance
company


Xiaomi
said
it
has
delivered
more
than
10,000
cars
in
June,
bringing
total
deliveries
to
more
than
25,000
since
the
Hong
Kong-listed
company

launched
its
electric
SU7
in
late
March.

BYD
delivered
1.6
million
new
energy
passenger
vehicles
in
the
first
half
of
the
year,
up
nearly
29%
from
a
year
ago.
Plug-in
hybrid
cars
accounted
for
a
slightly
greater
share
than
battery
electric
vehicles,
and
saw
faster
growth
at
39.5%
versus
17.7%
for
battery-only
cars.

That
reflects
how
much
of
China’s
new
energy
vehicle
sales
are
being
driven
by
hybrid-powered
vehicles
rather
than
purely
battery-powered
ones
as
range
anxiety
remains
a
top
concern
for
consumers
in
China.

Car
companies
need
to
improve
the
battery
charging
process,
Wan
Gang,
the
man
credited
with
spearheading
China’s
electric
car
strategy,

said
at
a
conference
last
week.

China’s
new
energy
vehicle
sales
have
risen
this
year
to
account
for
47%
of
all
passenger
cars
sold
in
May,
according
to

China
Passenger
Car
Association
data,
which
provides
figures
mid-month
for
the
prior
month.
That’s
up
from
32%
penetration
at
the
start
of
the
year.

As
part
of
efforts
to
boost
consumption,
China
this
year
has
launched
a

trade-in
policy
to
incentivize
new
energy
vehicle
sales.
Many
companies
have
also
slashed
prices
to
remain
competitive,
and
revealed
new
cars
at
the
Beijing
auto
show,
which
ended
May
5.