Last week, several major electric vehicle (EV) makers in China saw mixed results in terms of insurance registrations. Li Auto reported 11,700 registrations, Xpeng had 3,600, Zeekr recorded 5,700, Leapmotor saw 8,200, and Aito had 6,500 registrations.
Li Auto, which had paused sharing weekly insurance registration numbers earlier this year, resumed providing data in the form of weekly rankings. The company delivered 51,443 vehicles in October, showing a 27.26 percent year-on-year increase. Li Auto expects to deliver between 160,000 and 170,000 vehicles in the fourth quarter, with total deliveries for 2024 estimated to be between 501,812 and 511,812 units.
Xpeng reported 3,600 insurance registrations last week, with 23,917 vehicles delivered in October. The company is set to unveil its unaudited financial results for the third quarter of 2024 on November 19.
Tesla’s insurance registrations in China totaled 17,300 last week, marking a 10.19 percent increase from the previous week. The company’s Shanghai factory continues to produce Model 3 and Model Y vehicles for both local and export markets.
BYD recorded 85,900 insurance registrations last week, with 502,657 new energy vehicles (NEVs) sold in October. Xiaomi reported 5,500 insurance registrations, showcasing a 77.42 percent increase from the previous week.
Zeekr saw 5,700 insurance registrations last week, delivering 25,049 vehicles in October. The company aims to deliver around 230,000 vehicles for the entire year.
Leapmotor registered 8,200 vehicles for insurance last week, delivering 38,177 vehicles in October. The company is targeting to deliver 250,000 vehicles for the full year.
Aito, a brand jointly created by Huawei and Seres Group, had 6,500 insurance registrations last week. The company is on track to meet its full-year delivery target of 100,000 units ahead of schedule in November.
Overall, the EV market in China continues to show strong growth and competition among key players. With ongoing developments and innovations, the industry is poised for further expansion and success in the coming months.
