XPeng, Xiaomi Post Strong July Sales As China EV Price War Heats Up: Li Auto, Nio Data Due Next

XPeng and Xiaomi reported robust July deliveries of electric vehicles as the Chinese market continues to see a price war over market share in the nation's booming EV sector. 

The companies each reported strong sales last month. XPeng reported that it delivered 36,717 vehicles last month, a whopping 229% increase from the same period in the previous year, marking its ninth consecutive month with more than 30,000 deliveries. 

Meanwhile, Xiaomi crossed the 30,000 delivery milestone for the first time, driven by strong demand for its SU7 sedan and the newly launched YU7 crossover, CnEVPost reported.

At the time of writing, XPeng shares were up 0.1% at HK$71.70, while Xiaomi slipped 0.3% to HK$53.00 on the Hong Kong Stock Exchange.

Last month, Xiaomi officially priced the YU7 at 253,500 yuan ($35,322), undercutting Tesla’s Model Y by 10,000 yuan. Pre-orders opened the same day and reportedly topped 200,000 within three minutes. 

The SU7, Xiaomi’s first EV, starts at RMB 215,900 and competes with Tesla’s Model 3 in China. Combined, the two models form the core of Xiaomi’s ambitious 2025 target of 350,000 vehicle deliveries.

XPeng’s July performance brings its cumulative deliveries to over 800,000 units, supported by growth in both domestic and European markets. The company recently launched updated versions of the G6 and G9 models in Europe, with expansion into the UK, Italy, and Ireland helping it reach 46 markets globally.

Li Auto and Nio are expected to release their July sales data shortly. 

Li Auto recently launched its all-electric i8 SUV with a starting price of 321,800 yuan ($44,850), below expectations but still higher than Nio’s battery-swappable Onvo L90 SUV, priced at 279,900 yuan ($38,988). 

The i8 will start deliveries on Aug. 20.

Nio is also rapidly expanding its battery-swap network, while offering a wider range of battery sizes. Its recently introduced Onvo L90 SUV started taking pre-orders in July, and it also features a 900-volt architecture and advanced safety technology.

On Stocktwits, retail sentiment was 'bullish' for XPeng and Nio, 'neutral' for Li Auto, and 'bearish' for Xiaomi. 

Message volume was 'low' for XPeng and Xiaomi, 'normal' for Nio, and 'high' for Li Auto.

(1 yuan = $0.14)

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