China sees massive rebound in EV sales in June

Tesla’s principal rivals in China saw a massive rebound and finished out the month of June with solid sales across the board. Per the South China Morning Post, Li Auto, NIO and Xpeng had a strong June in terms of EV deliveries.

Li Auto hit an all-time delivery record of 32,575 deliveries. That is up 15.2 per cent from May and the third consecutive month where the company hit a delivery record.

NIO delivered 10,707 vehicles, a significant bounce back from disappointing May deliveries.

While Xpeng delivered 8,620 EVs, its highest in 2023 so far, representing a 14.8 per cent increase over May deliveries.

Tesla, in its case, does not publish its monthly sales in China. However, according to the China Passenger Car Association date, the Shanghai Gigafactory delivered 42,508 vehicles to Mainland Chinese buyers in May. That is a 6.4 per cent increase from April. The official June numbers should come in a few days, but as we covered earlier in the week, the numbers look to be strong.

These substantial delivery numbers echo the bullish stance the China Passenger Car Association and multiple analysts have taken towards the Chinese EV market. Some even believe that the market will rise 35 per cent in 2023, which would see over 8.8 million EVs delivered.

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