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Chinese Electric-Vehicle Makers Report Sharp Delivery Gains as Production Recovers From COVID-19 Lockdowns

MT Newswires ·  {{timeTz}}

11:15 AM EDT, 07/01/2022 (MT Newswires) -- Multiple Chinese electric-vehicle makers on Friday reported sharp gains in their June deliveries as production continued to recover from disruptions stemming from recent COVID-19 lockdowns in the country.

Li Auto (LI) delivered 13,024 Li One sport utility vehicles in June, up nearly 70% from a year earlier, bolstering its second-quarter tally by 63% to 28,687 units. It delivered 11,496 Li ONEs in May, saying supply shortages due to pandemic curbs imposed in China had resulted in delays for end users. Li Auto said on June 1 that its manufacturing had not fully recovered from those supply constraints.

The company reported more than 30,000 orders for its new SUV, Li L9, as of June 24, with deliveries set to commence by the end of August, Yanan Shen, president of Li Auto, said Friday. "Our users' enthusiasm for Li L9 did not hold back our order intake for 2021 Li ONE, which remains high."

Nio (NIO) delivered 12,961 vehicles in June, a 60% improvement on year-ago levels and an 84% advance on a monthly basis. That pushed the second-quarter total 14% higher annually to 25,059 units. The company said deliveries of the new ES7 SUV unveiled last month are expected to begin in August.

Nio said a month ago that vehicle deliveries remained "constrained to a certain extent" even though manufacturing had been "gradually recovering" in May. At the time, Nio said it planned to raise production capacity and accelerate deliveries from June in light of a strong order inflow.

XPeng (XPEV) said Friday its electric-vehicle deliveries reached 15,295 units in June, reflecting a 133% annual jump and a 51% monthly gain. This came after the company accelerated deliveries in mid-May and resumed double-shift production at its Zhaoqing plant. XPeng was able to deliver 34,422 vehicles in the second quarter, up 98% from last year.

The company plans to begin accepting pre-orders for its G9 SUV in August, with a launch scheduled for September.

Overall electric-vehicle sales more than doubled in China in May, with the nation leading the world in terms of penetration rates, Credit Suisse said in a Friday note.

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