Electric vehicle (EV) makers in China saw an increase in insurance registrations last week, with deliveries typically higher towards the end of the month. Nio and Onvo brands combined for 7,970 units, a 29.17 percent increase from the previous week. Tesla also saw a significant rise with 10,280 insurance registrations, up 51.62 percent.
Nio’s main brand recorded 6,500 insurance registrations, a 20.37 percent increase from the week before. The sub-brand Onvo saw a notable uptick of 90.91 percent with 1,470 units registered. Nio Inc, including all brands, had a total of 7,970 insurance registrations, showcasing a strong performance in the market.
Li Auto, on the other hand, experienced a slight decline with 8,600 insurance registrations, down 2.49 percent. Tesla, in contrast, had a substantial increase with 10,280 registrations, indicating a growing demand for their vehicles in the Chinese market.
Xpeng saw a moderate increase with 7,160 insurance registrations, up 8.48 percent from the previous week. The company delivered 33,205 vehicles in March, maintaining a strong performance in the EV market.
BYD had 62,200 insurance registrations, a 10.87 percent increase from the week before. The company sold 377,420 new energy vehicles in March, demonstrating a steady growth trajectory.
Xiaomi faced challenges in the EV market following an accident involving their SU7 model. The company saw a decline in insurance registrations with 7,000 units, down 2.23 percent.
Zeekr brand registered 3,530 insurance units, a 33.21 percent increase from the previous week. The brand, along with Lynk & Co, delivered a total of 40,715 vehicles in March, showcasing a strong performance in the market.
Leapmotor recorded 9,170 insurance registrations, up 6.63 percent from the previous week. The company delivered 37,095 vehicles in March, indicating a positive growth trend.
Aito, a brand created by Huawei and Seres Group, saw a significant increase in insurance registrations with 6,850 units, up 56.75 percent. Seres Group has applied for a listing in Hong Kong, further strengthening their presence in the market.
Overall, the EV market in China continues to show growth and competition among major players. With increasing demand for electric vehicles, these companies are making significant strides in the industry, paving the way for a more sustainable future.
