Nio and Xpeng report strong deliveries in Q2- PingWest

Nio and Xpeng report strong deliveries in Q2

In the second quarter, deliveries of Chinese electric vehicle makers maintained rapid growth.

Details: Nio delivered 8,083 vehicles in June, bringing the second-quarter total to 21,896 cars, according to a release. It's the first time the high-profile Chinese EV maker has delivered more than 8,000 cars in a month.

Xpeng delivered 6,565 vehicles in June, a year-on-year increase of 617%, a record high. In the second quarter of 2021, the Alibaba-backed company delivered 17,398 vehicles, a year-on-year increase of 439%.

Deliveries of the two Chinese EV makers still fall far short of industry giant Tesla, which delivered 184,800 vehicles worldwide in the first quarter alone.

Context: With the advancement of technology and the increase in battery range, consumers are more willing to choose EVs. "The EV sector has entered a real marketization stage," said Shi Jianhua, Deputy Secretary-General of China Association of Automobile Manufacturers (CAAM). "This year, the annual sales of EVs are likely to exceed 2 million."

In May, sales of EVs reached 217,000 in domestic China, a year-on-year increase of 159.7%; the cumulative sales from January to May reached 95 million, a year-on-year increase of 224.2%, according to data from CAAM.

Rising raw material prices and chip shortages have put pressure on the automobile manufacturing industry, but CAAM said that the shortage issue should be fixed in September.

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