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Elon Musk’s Tesla (TSLA) – Get Tesla Inc. Report remains the king of the electric vehicle makers as delivery and production results from its rivals still pale in comparison.
While Tesla’s July deliveries and production numbers are expected in the next day or so, its totals for the month will likely be thousands higher than its rivals.
Tesla on July 2 reported an 18% decline in production for the second quarter mainly as a result of April plant shutdowns in China caused by the covid-19 pandemic, which somewhat carried over into May. However, Musk’s company still produced and delivered more EVs than any other company in the world in the first half of the year with 563,987 produced and 545,884 deliveries.
Nio
Delivering the Most EVs of Any Manufacturer
Chinese rival BYD was in second place in the first half of the year with 323,519 EVs, Barron’s reported. General Motors’ (GM) – Get General Motors Company Report EV sales for the second quarter were only about 7,300, while Tesla reported 254,695 EVs delivered and 258,580 produced in the second quarter of 2022.
Tesla’s Chinese rivals Nio (NIO) – Get NIO Inc. American depositary shares each representing one Class A 蔚来汽车 Report, XPeng (XPEV) – Get XPeng Inc. American depositary shares each representing two Class A 小鹏汽车 Report and Li Auto (LI) – Get Li Auto Inc. Report have been posting some disappointing delivery results despite having some encouraging year-over-year numbers.
Chinese Rivals Struggle to Keep Up
Shanghai-based Nio reported 10,052 EVs delivered in July, which was 22% lower than the 12,961 delivered in June, but 26.7% higher year-over-year, according to statistics on its website. The company’s June deliveries had a 60.3% increase year-over-year. Nio has delivered 227,949 EVs through July 31.
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NIO on June 15 rolled out its ES7, a new mid-large five-seat smart electric SUV, which is the first SUV product based on NIO’s latest technology platform Technology 2.0. NIO also launched the 2022 ES8, ES6 and EC6 equipped with the upgraded digital cockpit domain controller and sensing suite, enhancing the computing and perception capabilities as well as digital experience of the vehicles. The company expects to start deliveries of the ES7 and the ES8, ES6 and EC6 in August.
Guangzhou, China EV maker XPeng delivered 11,524 EVs in July, which was 24% less than the 15,295 it reported in June, according to its website. However, the company said its deliveries were a 43% increase year-over-year. It has delivered 80,507 vehicles in the first seven months of 2022, a 108% increase year-over-year. In June, the company’s deliveries had a 133% increase year-over-year.
The company said it will begin accepting orders for its new G9 SUV in August with an official launch in September.
Beijing-based Li Auto said it delivered 10,422 EVs in July, which was a 20% decline from the 13,024 EVs delivered in June. The company, however, said that its July results were a 21.3% increase year-over-year. The company’s June deliveries had a 68.9% increase year-over-year.
The company’s first EV model Li One on Aug. 1 produced its 200,000th vehicle since beginning production in 2019, according to a company statement. The company has delivered 194,913 EVs since beginning production, it said.
Li Auto’s second model, its flagship smart SUV Li L9, has received over 30,000 non-refundable orders since its launch on June 21.
None of the three Chinese EV companies stated a reason for the decline in deliveries in July compared to June, although China has been plagued by recurring covid related lockdowns this year.
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