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Credit: CFP
AsianFin -- Chinese electric vehicle makers Leapmotor and Aito reported record monthly deliveries in May as the country』s intensifying price war and global trade tensions reshuffle the competitive landscape.
Leapmotor, backed by Stellantis, delivered 45,067 vehicles last month, representing a 148% increase from a year earlier. The surge follows the May 15 release of an updated version of its mid-sized C10 SUV, priced from 122,800 yuan ($17,045). More than 13,000 units of the C10 were delivered in May, the company said.
Aito, supported by Seres and powered by Huawei』s in-car technology, reported 44,454 deliveries, also a monthly record. On May 30, the company launched its ultra-luxury Maextro S800 sedan with a starting price of 708,000 yuan.
BYD, the sector』s dominant player, maintained its lead with 376,930 vehicle sales in May. The company slashed prices on 22 models on May 23, including a 20% cut on its Seagull hatchback, now priced at 55,800 yuan. The price reductions, seen by analysts as an effort to clear inventory, sparked a sell-off in EV stocks. BYD has also denied allegations it pressured a Shandong-based dealer over financial issues.
Xpeng』s May deliveries slipped to 33,525 units from 35,045 in April but marked a 230% year-on-year increase. The EV maker launched its Mona M03 Max and Plus models on May 28, priced at 129,800 and 119,800 yuan respectively. May was its seventh consecutive month of over 30,000 units delivered.
Xiaomi, still ramping up production in its debut year, delivered more than 28,000 vehicles in May, flat compared to the previous month. The company teased a new model under its YU7 luxury SUV line, expected to launch in July.
Other startups posted more moderate growth. Li Auto delivered 40,856 vehicles, up 16.7% year-on-year. Zeekr, owned by Geely, posted 18,908 deliveries, up just 1.6% despite marketing efforts including a March offer of free driver-assistance technology. Nio delivered 23,231 vehicles, up 13.1% from a year earlier. Of that, 6,281 came from Onvo, its new family-focused brand, making May Onvo』s strongest month to date.
Facing slower growth at home and rising trade barriers abroad, Chinese EV makers are accelerating efforts to expand in emerging markets. The European Union and the U.S. have both imposed new tariffs on Chinese electric cars, complicating expansion plans in developed economies.
BYD in April announced its official entry into Benin, working with CFAO Mobility to build out its presence in West Africa, signaling a shift in strategy as Western markets become less accessible.
