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Li Auto reports record deliveries for August; Chinese EV brands on track to hit third-quarter guidance

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  • Chinese electric car companies Nio, Xpeng and Li Auto delivered enough vehicles in August to keep pace with their third-quarter guidance.
  • Xpeng remained the laggard with 13,690 electric car deliveries in August, after delivering about 11,000 cars the prior month.
  • In the highly competitive market, state-owned GAC's Aion electric car brand said it delivered 52,057 cars in August — far more than any of the three startups.

BEIJING — Chinese electric car companies Nio, Xpeng and Li Auto delivered enough vehicles in August to keep pace with their third quarter guidance.

That's according to announcements from the three companies, which are all listed in the U.S.

Li Auto again remained ahead of the pack with deliveries of 34,914 cars in August. That's above the range of 33,333 to 34,333 monthly deliveries forecast for the third quarter.

The company also delivered about 800 more cars in August than in July. Its vehicles are not pure electric cars since they come with a fuel tank to extend the battery's range.

Nio said it delivered 19,329 vehicles in August, more than 1,000 fewer than in July but above the range of 18,300 to 19,000 monthly deliveries the company had forecast for the July to September period.

Xpeng remained far behind, with 13,690 electric car deliveries in August, after delivering about 11,000 cars the prior month.

Just over half of deliveries for August were of the company's new G6 coupe SUV, launched in late June. Xpeng said cumulative deliveries of the G6 have surpassed 11,000 units.

The company forecasts overall monthly deliveries between 13,000 and 13,667 cars for the third quarter.

Last week, Xpeng said it was acquiring Didi's smart car assets to develop a mass market electric car for launch next year. Nio also said it plans to enter the mass market under a separate "Alps" brand in the second half of next year.

Chinese electric car giant BYD already operates in the mass market, and is expanding into the premium price range.

BYD said it sold 145,627 purely battery-powered passenger cars in August, up from 134,783 vehicles sold in that category in July.

China's fast-growing electric car market remains highly competitive.

State-owned GAC's Aion electric car brand said it delivered 52,057 cars in August — far more than any of the three startups mentioned above. Aion sells both premium-priced cars and less expensive models with price tags of about $20,000.

In July, China Passenger Car Association data showed that BYD, Aion and Li Auto surpassed Tesla China in terms of monthly retail sales.

Elon Musk's Tesla announced Friday a new, more expensive version of its Model 3 car with a longer driving range.

Copyright CNBC
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