NEV makers report robust performance in August

China's new energy vehicle manufacturers reported strong delivery growth in August, with several brands hitting new records, according to figures released by automakers.

Among all the major players, Leapmotor once again led the pack, delivering a record 57,066 vehicles in August, up more than 88 percent year-on-year. The company has now held the top spot among China's emerging NEV makers for six consecutive months.

"Leapmotor is accelerating its global expansion, with exports ranking among the top in the sector this year. Recent orders from Europe have also hit a historic high," said Zhu Jiangming, chairman of the company.

The news comes after Leapmotor announced earlier that it would debut the Lafa 5, a youth-oriented compact hatchback, at the IAA Mobility 2025 motor show in Munich this month. Another key model, the B10, is also set to be unveiled in Munich and will launch later this year in over 20 overseas markets, the company said, adding that Europe has been designated as a strategic market, where the B10 will be priced at 29,900 euros ($34,810).

Looking ahead, the automaker is raising its annual sales target from between 500,000 and 600,000 units to between 580,000 and 650,000 units, and the company is "confident about taking on the challenge of reaching 1 million vehicle sales in the next year", said Li Tengfei, vice-president of Leapmotor, during the company's mid-year earnings call last month.

Trailing closely behind was Xpeng, which also hit a record high in August with over 37,700 deliveries, a jump of 169 percent year-on-year and up 2.7 percent month-on-month. From January to August, Xpeng's cumulative sales also surged 252 percent to around 271,600 units.

The launch of the new Xpeng P7, which created a stir on its Aug 27 debut by securing more than 10,000 orders within just seven minutes — the fastest a new model has ever crossed that mark for the company, is helping to drive the momentum further.

"With the new P7 entering mass delivery, our goal is to steadily exceed 40,000 units per month starting in September," said XPeng Chairman and CEO He Xiaopeng, during the firm's second-quarter earnings call.

In addition, Nio ranked third with around 31,300 deliveries in August, up 55 percent year-on-year. Its sub-brand Onvo contributed a strong part, delivering 16,434 vehicles, a 175 percent month-on-month increase.

Topping 10,000 deliveries in its first month, the new Onvo L90 SUV model has become the fastest-selling model in Nio's history.

"The Onvo L90 will remain our focus in the short term, while other models will be adjusted to support its growth," said Qin Lihong, Nio's co-founder and president, at the Chengdu Motor Show in Sichuan province in late August.

By contrast, Li Auto, traditionally among the top three NEV players, saw sales slip in August, delivering 28,500 vehicles, down 6 percent month-on-month.

However, the company said production of its newly launched i8 electric SUV model is ramping up, with 8,000-10,000 units expected to be delivered by the end of September. Another new all-electric SUV model, the i6, priced at around 250,000 yuan ($34,995), is also expected to hit the market and begin deliveries this month, it said.

The broader auto market also maintained its growth momentum. According to estimates by the China Passenger Car Association, narrow-sense passenger car retail sales reached about 1.94 million units in August, up 6.2 percent month-on-month and 2 percent year-on-year. NEVs accounted for roughly 1.1 million units, lifting the penetration rate to 56.7 percent.

Looking into the second half, NEV makers may face the twin pressures of fiercer competition and faster technology upgrades, yet the long-term growth outlook remains resilient, said Zhang Hong, a senior NEV industry expert at the China Automobile Dealers Association.

"The overall NEV penetration rate is expected to reach 53.7 percent in the second half, with plug-in hybrids and range-extended models accounting for nearly half, while demand for premium and intelligent features continues to rise," Zhang said.