Electric vehicle (EV) makers in China experienced a surge in insurance registrations last week, with major players like Li Auto, Xpeng, Zeekr, Leapmotor, and Aito all seeing an increase in registrations compared to previous weeks.
Li Auto reported 12,300 insurance registrations, marking a 5.13 percent increase from the previous week. The company also delivered 51,443 vehicles in October, showing a 27.26 percent year-on-year increase. Li Auto’s fourth-quarter vehicle delivery guidance aims to reach between 160,000 and 170,000 vehicles, indicating a steady growth trajectory for the company.
Xpeng saw 6,300 insurance registrations, a significant 75.00 percent increase from the previous week. The company delivered 23,917 vehicles in October, showcasing a 19.57 percent year-on-year growth. Xpeng’s recent launch of the P7+ received 31,528 orders within three hours, highlighting the strong demand for its new electric sedan.
Zeekr reported 6,000 insurance registrations, up 5.26 percent from the previous week. The company achieved a record high of 25,049 vehicle deliveries in October, marking a 91.55 percent year-on-year increase. Zeekr’s strategic deals, including acquiring a 51 percent stake in Lynk & Co, demonstrate its commitment to growth and expansion in the EV market.
Leapmotor recorded 8,500 insurance registrations, a 3.66 percent increase from the previous week. The company delivered 38,177 vehicles in October, showing a 109.74 percent year-on-year growth. Leapmotor’s consistent monthly delivery records and ambitious target of 250,000 deliveries for the full year indicate a strong performance in the EV sector.
Aito, a brand created by Huawei and Seres Group, saw 7,200 insurance registrations, reflecting a 10.77 percent increase from the previous week. The company’s collaboration with tech giant Huawei and its focus on innovative EV solutions position Aito as a key player in the competitive EV market.
Overall, the increase in insurance registrations for these EV makers signals a positive trend in the Chinese electric vehicle industry. With ongoing developments, strategic partnerships, and strong delivery performances, these companies are poised for continued growth and success in the evolving EV landscape.
