China’s Electric Vehicle Registrations Soar in Week 4

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In the fourth week of 2024, spanning January 22-28, China witnessed a surge in EV registrations. BYD claimed the top spot with 43,300 registrations, marking a 7% increase from the previous week. The company boasts a diverse lineup of over 100 models and trim levels, anticipating multiple product launches in 2024.

Tesla’s Noteworthy Performance: Tesla secured the second position, registering 12,800 BEVs, reflecting a 9.4% growth from the preceding week. Notably, the upcoming Tesla Model Y, codenamed Juniper, is rumored to commence production in the Shanghai factory in April.

Nio’s Impressive Growth: Nio exhibited substantial growth, registering 3,300 BEVs, a remarkable 73.68% increase from the previous week. Between January 1 and January 28, Nio achieved a total of 9,900 BEV sales in China.

Aito and Li Auto in Close Competition: Aito, backed by Huawei, closely competed with Li Auto. Aito secured 8,000 registrations, up by 9.59%, surpassing Li Auto’s 8,500 registrations. Both companies offer BEV and EREV variants, with Li Auto gearing up to launch its first all-electric vehicle, the Li Mega MPV, on March 1.

Other Notable Players:

  • Zeekr recorded 3,100 BEVs, up 10.71%.
  • Changan’s Deepal registered 3,000 vehicles, offering diverse powertrain options.
  • Stellantis-backed Leapmotor maintained stability with 2,700 registrations.
  • Xpeng, backed by Volkswagen, saw a 22.22% growth, registering 2,200 BEVs.

Volkswagen’s Presence: Volkswagen registered 3,600 electric vehicles in China, experiencing a 5.26% decrease. The company launched the 2024 ID.4 and ID.3 on January 3, contributing to a total of 14,700 EV registrations between January 1 and January 28.

These statistics depict the dynamic landscape of the Chinese EV market in Week 4, with companies strategically positioning themselves ahead of the Lunar New Year business hiatus starting on February 10.

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