New Energy Vehicles (NEVs) in China

August results are starting to come out
Very good results from the new players all around (except Li Auto)

New Players
Leapmotor: 57,066 (new record)
HIMA: 44,579
Xpeng: 37,709 (new record)
Nio: 31,305 (new record, but main brand only 10,525. Onvo 16,434 and Firefly 4,346)
Xiaomi: >30000
Li Auto: 28,118 (down 40.72 percent year-on-year, third consecutive month of decline and 7.17 percent decrease from June)
Voyah: 13,505

Incredible performance by Leapmotor and Xpeng. Nio is still not out of the woods yet with weak sales from their main brand. And what a downfall by Li Auto


Big guys
BYD: 373,626 (up 9% from July, but still flat YoY. Total Jan-Aug is now 2,863,876. Don't think it can reach 5m with just 4 months left)
Geely: 250,167 (2nd highest behind Jan 25, Galaxy contributed record 110,666)

After Geely Xingyuan, MG4, Arcfox T5, Dongfeng Nammi, we now have another small car from Leapmotor

Supposed called Lafa5, previously known as B05. Will launch in Munich IAA Mobility on 9 Sept




I'm glad we are seeing so many small practical EVs starting to hit the market.
Very excited to see if it can undercut MG4, which I think is already decent value. BYD Dolphin and Seagull are suddenly looking very outdated and short ranged.

I posted all the August numbers here. Geely does pretty well due to the mass market models selling really well. Leapmotor is selling well. NIO is doing really well because of Onvo.

henrik said:

How come byd earnings is down in the recent earnings report?

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have you looked at the huge capex they have and the depreciation required for that capex?

In recent months, Leapmotor NEVs sell at RMB 100k - 200k range, while HIMA ASP is > RMB 300k, higher than BBA. That is the reason, Leapmotor is not in the eyes of government, which is very anxious about 内卷 at the moment.

Leapmotor sells:

C01 sedan from RMB 150k
B01 sedan from RMB 100k
C10 SUV from 130k to 170k
C16 SUV from 155k to 190k
T03 mini car from 45k to 65k

So Leapmotor addressable segments are in crosshairs with SAIC GM Wuling, Geely, Chery, GAIC, Changan, BYD etc.

Hyper said:

The fact that these price wars don't see any end. It must be obvious that they will try or ary trying to bankrupt the competition. Nio, xpeng and Li Auto and Polestar are in trouble in that case.

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Correction: Polestar is owned by Geely

sndef888 said:

After Geely Xingyuan, MG4, Arcfox T5, Dongfeng Nammi, we now have another small car from Leapmotor

Supposed called Lafa5, previously known as B05. Will launch in Munich IAA Mobility on 9 Sept

View attachment 159647


I'm glad we are seeing so many small practical EVs starting to hit the market.
Very excited to see if it can undercut MG4, which I think is already decent value. BYD Dolphin and Seagull are suddenly looking very outdated and short ranged.

Click to expand...

Definitely need more electric wagon style vehicles, zeekr 007 gt being one of the few and only available in China is such a shame. I don't think everyone is desperate for a SUV, a well priced speedy wagon will sell well.

Shame to see Li Auto in decline. I like how Li i8 and Mega look. They are MPV's but like how the front and interior look. Hope they turn it around.