Hyperdrive
China’s Electric-Vehicle Makers Tighten Grip With Rising Sales
- BYD deliveries rise 61% in July to record; Xpeng, Nio, Li gain
- Central government has made pledges to increase car purchases
This article is for subscribers only.
China’s top electric-vehicle makers posted better-than-expected July sales as the government attempts to boost auto demand to help revive a flagging economic recovery.
Way out front was BYD Co., China’s top-selling automaker, which delivered 262,161 new-energy vehicles last month, up 61% from a year earlier. Xpeng Inc., which last week signed a deal to produce EVs with Volkswagen AG, reported July sales of 11,008 units, up 28% from the month before. Li Auto Inc. shipped 34,134 cars last month, while Nio Inc.’s deliveries jumped to 20,462.