Leapmotor and Aito report record high deliveries in May amid price war

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Leapmotor and Aito report record high deliveries in May amid price war

Stellantis-backed Leapmotor delivered a record 45,067 vehicles in May, reflecting year-on-year growth of 148%.

Cfoto | Future Publishing | Getty Images

******** electric carmakers Leapmotor and Aito reported record high deliveries in May, while other startups struggle to catch up as the price war intensifies.

Stellantis-backed Leapmotor

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in May, reflecting year-on-year growth of 148%. On May 15, the automaker launched an updated version of its C10 model, a mid-sized SUV, that retailed from 122,800 yuan ($17,045). Leapmotor said

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were delivered in May.

And on Sunday, Seres-backed Aito announced on social media that it had delivered

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, setting a new record. The automaker, which uses Huawei tech, on May 30

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, an ultra-luxury sedan, with a starting price of 708,000 yuan.

Industry giant BYD maintained its stronghold in the industry, with

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. Total car sales in May rose by 14.1% increase year on year, based on CNBC’s calculations of publicly available figures.

The automaker on May 23 slashed prices on 22 models, bringing the price of its Seagull hatchback down 20% to 55,800 yuan, causing ******** automakers’ shares to slide.

The EV juggernaut has recently been scrutinized over claims that it had pressured Jinan Qiansheng, one of BYD’s dealers in the eastern province of Shandong, over cash flow. BYD refuted claims in a statement to ******** media.

The intensifying price war has also sparked fears of a next “Evergrande” — China’s former real estate giant, which defaulted on its debt in 2021.

Xpeng May deliveries dipped to

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from

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the previous month. But the company reported a year-on-year growth of 230% and maintained its streak of delivering over 30,000 vehicles for the seventh consecutive month.

The automaker on May 28

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, retailing from 129,800 yuan and 119,800 yuan, respectively.

Xiaomi delivered

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vehicles in May, mirroring its performance last month.

The smartphone company on May 22 teased a new model of YU7 luxury SUV, which is set to be officially launched in July.

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Other startups, however, experienced modest growth in deliveries.

Li Auto delivered

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, representing a year-over-year increase of 16.7%, while Geely-owned Zeekr delivered

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, indicating a 1.6% year-on-year growth, based on CNBC calculations of publicly available data. That’s despite Zeekr’s attempts to differentiate itself from the competition with its announcement of free driver-assistance technology in March.

Nio‘s May deliveries fell from the previous month, with a total of

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, reflecting 13.1% year-on-year growth. Onvo, Nio’s family-oriented smart electric vehicle brand, made up 6,281 of total deliveries. That makes May Onvo’s best-performing month so far this year.

Global expansion

******** automakers are looking to diversify as competition intensifies. But tariffs imposed by the European Union and the U.S. on ******** electric vehicles may impede efforts to expand into the West.

Instead, companies may be looking to emerging markets such as those in Africa, Hong Kong-based

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reported last week.

BYD on April 24

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, in collaboration with CFAO Mobility.

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#Leapmotor #Aito #report #record #high #deliveries #price #war

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