Mr Viral
Chinese new energy vehicle (NEV) companies have released their sales data for December 2024 and the whole year. Excluding traditional automakers like BYD and Geely, the top five emerging EV startups are Li Auto, Leapmotor, NIO, XPeng, and Xiaomi. Here’s a closer look at their performance:
Li Auto
● December Deliveries: 58,513
● 2024 Deliveries: 500,508
● Cumulative Deliveries: 1,133,872
Li Auto broke its monthly delivery record in December, delivering 58,513 vehicles. It also became the first EV startup to surpass 500,000 annual deliveries, achieving 500,508 in 2024.
In 2023, CEO Li Xiang boldly claimed, “With our pure EV models and the launch of the Li Auto L6 next year, we are confident of surpassing Mercedes-Benz, BMW, and Audi in total sales by 2024.” While this goal wasn’t fully realized, Li Auto came close. As of November, Mercedes-Benz sold 510,000 vehicles, Audi 530,000, and BMW 550,000 in China. If not for the disappointing performance of the Li Auto MEGA, it might have surpassed one of these luxury giants.
Leapmotor
● December Deliveries: 42,517
● 2024 Deliveries: 293,724
● Cumulative Deliveries: 602,119
Leapmotor delivered over 40,000 vehicles for the second consecutive month, setting a new monthly delivery record of 42,517 in December. Its cumulative deliveries also surpassed 600,000, trailing only Li Auto and NIO, with less than 50,000 vehicles separating it from NIO.
NIO
● December Deliveries: 20,610
● 2024 Deliveries: 201,209
● Cumulative Deliveries: 650,803
NIO returned to delivering over 20,000 vehicles per month in December, totaling 20,610. During NIO Day 2024, the company unveiled its third brand and first model, Firefly, with a starting price of CNY148,800 and a planned launch in April 2025.
XPeng
● December Deliveries: 36,695
● 2024 Deliveries: 190,068
● Cumulative Deliveries: 590,379
XPeng exceeded 30,000 deliveries for two consecutive months, reaching 36,695 in December. It also set delivery records for four consecutive months, with its new model, XPeng MONO M03, becoming a bestseller, achieving over 10,000 deliveries in its first full month.
SEE ALSO: Xiaomi YU7 SUV Standard Version Appears in Real Life
(Source: Xiaomi)
Xiaomi Auto
● December Deliveries: Over 25,000
● 2024 Deliveries: Over 135,000
● Cumulative Deliveries: Over 135,000
Xiaomi Auto achieved over 25,000 deliveries in December, hitting its annual target of 135,000. The company aims to deliver 300,000 vehicles in 2025. Notably, only Li Auto, Leapmotor, and NIO surpassed 300,000 annual deliveries in 2024.
Industry Trends in 2024
Despite challenges like NETA Auto halting production and Ji Yue Auto suspending operations, the fundamentals of the Chinese NEV market remain strong. Most leading and mid-tier startups exceeded 200,000 annual deliveries, with increasingly diverse product offerings, strengthened brand identities, and improved supply chain and service capabilities.
However, profitability remains a challenge for most startups. Aside from Tesla, BYD, and Li Auto—who turned profitable in 2023—many NEV players continue to face financial pressure.
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