BRIEF: XPeng sustains momentum in May, as Leapmotor sets new sales record

China’s new energy vehicle (NEV) market continued to grow rapidly in May, as multiple brands posted record-high monthly deliveries. XPeng Motors (XPEV.US; 9868.HK) delivered 33,525 vehicles during the month, up 230% year-on-year, marking its seventh consecutive month of more than 30,000 units delivered, though the figure was down 4.34% from April.

Industry leader BYD (1211.HK; 002594.SZ) sold 382,476 vehicles in May, up 15.27% year-on-year, as its overseas sales hit 89,047 units, marking a new monthly high for the sixth straight month. Leapmotor (9863.HK) delivered 45,067 vehicles in May, up more than 148% year-on-year, reaching a new all-time high.

Meanwhile, Li Auto (LI.US; 2015.HK) delivered 40,856 vehicles in May, up 16.66% year-on-year, returning to above 40,000 units for the first time in four months. Nio Inc. (NIO.US; 9866.HK)delivered 23,231 vehicles during the month, up 13% from a year earlier but down 2.8% from April.

Xiaomi (1810.HK) reported May deliveries of 28,000 vehicles, roughly flat from April and marking an eighth straight month of monthly deliveries above 20,000 units. The company said it is preparing for mass production of its new Xiaomi YU7 model.

By Lee Shih Ta

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