Elon Musk’s Tesla (NASDAQ:TSLA) continues to reign supreme among manufacturers of electric vehicles, with its competitors’ delivery and manufacturing numbers still lagging. Although Tesla’s July production and delivery figures are anticipated in the next day or so, their totals will probably be thousands higher than those of their competitors.
The covid-19 pandemic-related plant closures in China that began in April and somewhat continued into May resulted in an 18% drop in production for the second quarter, according to a report released by Tesla (NASDAQ:TSLA) on July 2. With 563,987 created and 545,884 delivered in the year’s first half, Musk’s company nevertheless manufactured and shipped more electric vehicles than any other company worldwide.
Providing More EVs Than Any Other Manufacturer
According to Barron, BYD, a Chinese competitor, came in second with 323,519 EVs sold in the year’s first half. Only roughly 7,300 electric vehicle (EV) sales were reported by General Motors Company during the second quarter of 2022, compared to 254,695 delivered and 258,580 produced EVs, according to Tesla (NASDAQ:TSLA).
Competitors in China Struggle to Keep Up
According to statistics on its website, Shanghai-based Nio (NYSE:NIO) recorded 10,052 EVs delivered in July, 22% less than the 12,961 shipped in June but 26.7% higher than the same month last year. Deliveries made by the company in June increased by 60.3% from the previous year’s same month. Until July 31, Nio (NYSE:NIO) delivered 227,949 EVs.
The ES7, a new mid-large five-seat smart electric SUV from NIO (NYSE:NIO), was unveiled on June 15 and is the first SUV model to be built on the company’s most recent technological platform, Technology 2.0. The improved digital cockpit domain controller and sensing suite were also introduced by NIO (NYSE:NIO), boosting the vehicles’ processing and perception capacities and the digital experience. The cars in question include the 2022 ES8, ES6, and EC6. According to the manufacturer, the ES7, ES8, ES6, and EC6 are scheduled to begin deliveries in August.
China’s Guangzhou EV manufacturer XPeng (NYSE:XPEV) delivered 11,524 EVs in July, a 24 % decrease from the 15,295 EVs it announced in June. However, the business claimed that deliveries had increased by 43% yearly. In the first seven months of the year 2022, it delivered 80,507 automobiles, up 108 % from the same period last year.
Deliveries made by the company increased by 133% in June compared to the same month the previous year. The business said that it would start taking orders for its new G9 SUV in August, with a formal launch following in September.
Li Auto (HKG:2015), a Beijing-based company, reported delivering 10,422 electric vehicles in July, a 20 % decrease from the 13,024 cars it had in June. But according to the business, year-over-year growth in July earnings was 21.3 %. June deliveries for the company increased 68.9 % over the same month last year.
On August 1, the company’s first electric vehicle (EV) model, Li-One, produced its 200,000th vehicle since it started production in 2019. Since it began producing EVs, the business has said it has delivered 194,913 of them. Since its June 21 launch, Li Auto’s second model, the company’s top-of-the-line brilliant SUV Li L9, has racked up over 30,000 non-refundable orders.
Despite China being plagued by recurrent COVID-related lockdowns this year, none of the three Chinese EV companies explained the drop in deliveries from June to July.
Featured Image: Megapixl © Ifeelstock
