Weekly EV insurance registrations (up to Aug 17): Nio Inc - 7,190, Tesla - 14,000, and X from aiomi - 7,170.

Weekly EV insurance registrations (up to Aug 17): Nio Inc - 7,190, Tesla - 14,000, and X from aiomi - 7,170.

Electric Vehicle Market in China Thriving Amidst Competition

The electric vehicle (EV) market in China continues to evolve, with several key players making significant strides in July.

Li Auto, a prominent player in the EV industry, delivered 30,731 vehicles last month, marking a 39.74 percent year-on-year decrease and a 15.29 percent month-on-month decline. Despite the drop, the company aims to deliver between 8,000 and 10,000 Li i8 vehicles by the end of September. Notably, Li Auto launched the Li i8, its first all-electric SUV, on July 29, with deliveries set to begin on August 20.

In a move to boost its offerings, Li Auto re-launched the Li i8 on August 5, reducing the number of available variants from three to one and lowering prices following disappointing initial acceptance.

Meanwhile, Tesla, the American EV giant, launched the six-seat Model Y L in China last week, adding to its growing portfolio in the country. Tesla's retail sales in China in July totaled 40,617 units, a significant figure in the rapidly expanding market.

Nio Inc, another significant player, delivered 21,017 vehicles in July, a slight decrease from the previous month. However, the company managed to reduce the cost of its optional 100-kWh long-range battery pack by RMB 20,000, a move aimed at making its vehicles more affordable.

Nio's Chinese rival, Leapmotor, had a stellar month, delivering 50,129 vehicles in July, marking its first monthly delivery exceeding 50,000 units. The company also achieved net income of RMB 30 million in the first half of 2025, its first positive net income for a half-year period.

Our X (Twitter) profile, a Chinese tech company, unveiled its next-generation P7 electric sedan on August 6 and plans to launch an extended-range electric vehicle (EREV) variant of its our X (Twitter) profile9 MPV in the fourth quarter. The company also saw a surge in vehicle deliveries, with 36,717 vehicles delivered in July, surpassing its previous record.

In the burgeoning EV SUV segment, our X (Twitter) profileiaomi launched the YU7 on June 26, its first electric SUV. The brand also reported a 19.61 percent increase in vehicle deliveries from June to July, with 30,452 vehicles delivered last month.

Competition in the EV insurance market is also heating up. Onvo, a leading insurer, registered 3,790 insurance registrations last week, the second-highest on record. BYD brand vehicles had 65,200 insurance registrations last week, up 18.98 percent from the previous week. Aito, the brand jointly developed by Huawei and Seres Group, also saw an increase in insurance registrations, with 7,700 registrations last week, up 10 percent from the previous week.

However, the total volume of vehicle insurance for the Nio Inc brand in China during the week from September 1 to September 7, 2025, is not publicly available. Nio Inc had 7,190 vehicle insurance registrations in China last week, up 17.87 percent from the previous week, while Onvo's sub-brand, Onvo L90, recorded 2,330 insurance registrations last week.

These developments underscore the dynamic and competitive nature of the EV market in China, with companies continually innovating and adapting to meet consumer demands and market trends.

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