The electric vehicle (EV) industry in China saw a mixed week in terms of insurance registrations for major players. Li Auto, Xpeng, Zeekr, Leapmotor, and Aito all reported their numbers for the week of October 14-20.
Li Auto had 12,100 insurance registrations last week, a slight decrease of 9.70 percent from the previous week’s 13,400 registrations. Despite the drop, the company has been performing well, with a record 53,709 vehicle deliveries in September and celebrating its one millionth vehicle delivery milestone on October 18.
Xpeng recorded 4,500 insurance registrations, showing a 15.38 percent increase from the previous week’s 3,900 registrations. The company delivered 21,352 vehicles in September and saw great success with the pre-sales of its flagship electric sedan, the P7+, which garnered over 30,000 orders in just under two hours.
Tesla had 13,200 insurance registrations, marking a significant 55.29 percent increase from the previous week’s 8,500 registrations. The company’s China-made vehicles continue to perform well, with a total of 88,321 units sold in September, including exports.
BYD reported 89,600 insurance registrations, a decrease of 15.63 percent from the previous week’s record high of 106,200. The company sold a record 419,426 new energy vehicles in September and continues to lead the domestic passenger car NEV market.
Xiaomi saw a second consecutive record high week with 5,600 insurance registrations, up 21.74 percent from the previous week’s 4,600 registrations. The company’s first EV model, the SU7, delivered more than 10,000 units in September, with plans to produce and deliver over 20,000 vehicles in October.
Zeekr recorded 5,200 insurance registrations, a slight decrease of 5.45 percent from the previous week’s 5,500 registrations. The company delivered a record 21,333 vehicles in September and launched its new model, the Zeekr Mix, on October 23.
Leapmotor had 8,000 insurance registrations, down 8.05 percent from the previous week’s 8,700 registrations. The company delivered 33,767 vehicles in September and unveiled its new model, the B10, at the Paris auto show.
Aito, a brand created by Huawei and Seres Group, reported 8,700 insurance registrations, showing a 22.54 percent increase from the previous week’s 7,100 registrations. The company continues to see growth in the EV market.
Overall, the EV industry in China remains competitive with companies vying for market share and introducing new models to meet consumer demand. The future looks promising for these companies as they continue to innovate and expand their offerings in the electric vehicle space.
