Amid a grapple with different headwinds such as a spike in the cost of raw materials and Covid-19 reinvigoration, Chinese auto startup makers Xpeng, Li Auto and Nio are seeing a spike in car deliveries. In Q1 2022, the companies registered higher year-over-year deliveries.
The challenges faced by these automakers have sparked a corresponding increase in the prices of their car models. Notably, EV giant Tesla (NASDAQ: TSLA) is among the companies hit by these obstacles resulting in hiked car prices.
According to a press release published by NIO (NYSE: NIO), the company registered an increase of 37.6% year-over-year after delivering 9,985 vehicles in March 2022. The total Q1 deliveries were 25,768 vehicles marking an increase of 28.5% year-over-year. The company’s cumulative deliveries at the end of March reached 192,838. The deliveries consisted of 9,822 premium smart electric SUVs, including 1,726 ES8s, 5,064 ES6s and 3,032 EC6s, and 163 ET7s, the Company’s flagship premium smart electric sedan.
Li Auto (2015-HK), on the other hand, registered an increase of 152.1% year-over-year after delivering 31,716 vehicles in Q1 of 2022. In March alone, the company delivered 11, 034 of its SUV model Li ONE. Li is also looking to further expand its production. “We will unveil our world-class flagship smart SUV L9 for family users on April 16. The L9 features our fully self-developed range extension system, chassis control system, and central vehicle domain controller, empowering its outstanding dynamic performance and drivability,” reads part of the press release.
Xpeng (NYSE: XPEV), the most successful, registered an increase of 159% year-over-year after delivering 34,561 vehicles in Q1 2022. The EV maker delivered 15, 414 vehicles in March alone which marks an increase of 202% year-over-year and a 148% increase month-over-month. “Monthly delivery of the P7 smart sports sedan exceeded 9,000 in March 2022 for the first time, reaching 9,183. March deliveries also consisted of 4,398 P5 smart family sedans and 1,833 G3 and G3i smart compact SUVs,” reads part of the press release.
Besides the aforementioned EV makers, Evergrande also constitutes the list of disruptive EV startups in China.