Chinese EV Makers BYD, Nio, Li Auto, XPeng Report Strong Q1 Sales, Poised to Challenge Tesla

BYD sold over 626,000 new energy vehicles in Q1 2024, up 13% year-over-year. Exports nearly tripled to over 38,000 units.

Nio delivered nearly 12,000 premium EVs in March, up 14% year-over-year. Delivered over 30,000 vehicles in Q1.

Li Auto delivered over 28,000 vehicles in March, up 39% year-over-year. Delivered over 80,000 vehicles in Q1.

XPeng delivered over 9,000 vehicles in March, up 29% year-over-year. Delivered nearly 22,000 vehicles in Q1.

Combined, Nio, Li Auto, and XPeng delivered about 132,000 vehicles in Q1 2024, a 30% year-over-year increase. Posing rising competition to Tesla.