Image: NIO
Tesla rivals in China posted impressive sales numbers in January, including electric vehicle (EV) companies Xpeng Motors and Li Auto, among others.
Xpeng and Li Auto said on Tuesday that their sales more than doubled in January, with fellow EV automaker NIO saying its sales increased by a third, according to the South China Morning Post.
The news comes just as the country begins celebrating Lunar New Year, also putting increasing pressure on Tesla in the world’s largest auto market.
NIO Teases ‘Hello World’ Electric Car Ad in Germany https://t.co/qAQQ3WeXQi
— TeslaNorth.com (@RealTeslaNorth) January 31, 2022
CNEVPost founder Phate Zhang said, “the delivery data is in line with expectations, as January is normally a low season for car sales.” Phate continued, “None of the trio broke the previous monthly record in January, but the results still looked impressive, given the fact that a reduction in government subsidy became effective from January 1.”
Li Auto delivered 12,268 of its Li One EV, representing a 128.1 percent jump year over year.
Xpeng delivered 12,922 EVs last month, marking a similar 115 percent increase year over year.
NIO delivered 9,652 EVs for an increase of 33.6 percent year over year.
EV automakers in China are trying to keep pace with Tesla, as the latter’s Model Y sold a record 40,500 units in December 2021 and 169,853 for the year, making it the best-selling new energy SUV in the country. The Model 3 was the third best-selling EV in China last year, behind the BYD Qin and affordable Hongguang Mini EV.
China’s Finance Ministry announced decreases to its clean energy subsidies by 30 percent in December, which some expected to harm auto sales significantly.
NIO, Li Auto and Xpeng also saw surging sales in December, though January isn’t typically expected to be a high-sales month.
As for NIO, the company looks to be expanding soon in Europe, after registering with the Danish Car Importers Association, while also placing a vehicle ad in Germany saying they would be there soon.
