Xiaopeng 570%; BYD 164%

On March 1, China’s major new energy vehicle companies released the February 2025 new car delivery data. Weilai, Xiaopeng Motors, and Ideal Cars showed different degrees of rise compared to the same period last year, with BYD achieving a 164% year-on-year rise, and Lantu Motors under Dongfeng and Jike from Geely also achieving year-on-year and month-on-month increases.

Shi Jianhua, deputy secretary-general of the China Electric Vehicle Hundred People’s Association, recently stated that 2025 is a key year for China’s automotive industry to consolidate its development achievements and achieve high-quality development. Chinese new energy vehicles will continue to grow rapidly and become the dominant force in the automotive market incrementally.

Xiaopeng Motors rose 570% year-on-year

BYD monthly sales exceeded 320,000 units

According to statistics, in February 2025, NIO delivered 13192 new vehicles, an increase of 62.2% compared to the same period last year. Among them, NIO brand delivered 9143 new vehicles, an increase of 12.4% compared to the same period last year; Lixiang brand delivered 4049 new vehicles. As of now, NIO has delivered a total of 698619 new vehicles. Among them, NIO brand has delivered a total of 667897 new vehicles, and Lixiang brand has delivered a total of 30722 new vehicles.

“2025 is the big year for NIO technology. Starting from March, the full-blooded TianhuSkyOS operating system, Shenji chip, and end-to-end urban area intelligent driving of the world model will be successively delivered.” Li Bin, chairman of NIO, stated in a recent live event that 2025 is also a big year for NIO’s products. From April to the end of the year, NIO will launch new products for three brands, NIO, LeDao, and Firefly, intensively. “There will be heavyweight new product releases every quarter.”

Xiaopeng Motors announced delivery data, showing that in February 2025, Xiaopeng Motors delivered a total of 30453 new vehicles, a rise of 570% year-on-year. Xiaopeng Motors has exceeded 30,000 deliveries for 4 consecutive months. From January to February 2025, Xiaopeng Motors delivered a total of 60803 new vehicles, a rise of 375% year-on-year.

On February 28, Xiaopeng Motors announced that the new Xiaopeng G6 will be officially launched in early March, and the new G6 will also be launched for the global market in the international left-hand drive version. The first right-hand drive model Xiaopeng G6 recently started pre-sales in the UK, and the first batch of 300 Xiaopeng X9 vehicles has been officially shipped overseas. ‘Xiaopeng X9 is confident to become the best-selling high-end pure electric MPV in the Asia-Pacific region by 2025,’ said He Xiaopeng, Chairman of Xiaopeng Motors. According to the plan, Xiaopeng Motors will cover 60 countries and regions and establish over 300 overseas service outlets by 2025.

The delivery data released by Ideal Car shows that in February 2025, Ideal Car delivered 26,263 new cars, a rise of 29.7% year-on-year. As of February 28, 2025, the historical cumulative delivery volume of Ideal Car is 1,190,062 vehicles.

Ideal car recently released the first pure electric SUV Ideal i8 official picture. The i series is a brand new pure electric SUV series of Ideal car, which is parallel to the L series and MEGA, and the three product series together constitute the vehicle matrix. “After the appearance of the first pure electric SUV Ideal i8 was released, the feedback from users and the market has strengthened our confidence in doing a good job in the pure electric product series,” said Li Xiang, Chairman of Ideal car.

On March 1, BYD announced that in February 2025, BYD sold 322,846 new vehicles, a rise of 164% year-on-year. Among them, overseas sales of passenger vehicles were 67,025, and BYD’s Ocean sold 304,673 vehicles; the Tang EV sold 4,942 vehicles; the Song EV sold 8,513 vehicles; and the Yuan EV sold 105 vehicles. Wang Chuanfu, Chairman of BYD, recently stated that in terms of technology for new energy vehicles in China, whether it’s products, technology, or the industry chain, it should be leading by about 3 to 5 years, and BYD’s biggest asset is its team of engineers.

Xiaomi’s monthly delivery volume of cars exceeds 20,000

Intense competition in the intelligentization of new energy vehicles

On March 1st, Xiaomi announced that in February 2025, the delivery volume of Xiaomi SU7 exceeded 20,000 units, and it has exceeded 20,000 units for 5 consecutive months. Lei Jun, Chairman of Xiaomi Group, previously stated that Xiaomi had delivered over 135,000 vehicles in 2024, with a planned delivery target of 300,000 vehicles in 2025.

Academician of the Chinese Academy of Sciences and Vice Chairman of the 100-member Association of China’s Electric Vehicles, Ouyang Minggao, recently stated that it is difficult for new entrants to enter the field of new energy vehicles in China again, “unless giants like Xiaomi re-enter the market, otherwise it is unlikely to see new strong competitors.”

Ouyang Minggao predicts that the competition in the stage of intelligent transformation will become more intense, and the industry is about to usher in a turning point of mergers and reorganizations, and a period of preparation for model innovation. The so-called industrial model transformation is the shift from enterprise competition to model competition, and currently seven representative industrial models have gradually formed.

Among them, the BYD model: adopts a vertically integrated path developed independently, building a complete ecological closed loop; the Huawei intelligent platform model: relying on the rapid iteration of Hongmeng OS, using a combination of brand and software, its feature is to focus on high-margin models, creating an intelligent ecological model dominated by ‘soul’; new forces Internet car-making model: such as NIO, Xiaopeng, and Ideal, they do not rely on Huawei, but build a complete ecological closed loop through sharing of charging ecosystem, Internet genes, and vehicle intelligence.

Shi Jianhua recently stated that 2025 is a crucial year for consolidating the achievements of China’s automobile industry and achieving high-quality development. New energy vehicles in China will continue to grow rapidly and become the dominant force in market growth, while intelligent technology will accelerate its comprehensive application, driving innovation and progress in electrification technology in return, forming a benign cycle of mutual promotion. In the rapid development of the industry, it is essential to realize that the focus of current industrial development has shifted from simply pursuing speed (‘fast or not’) to paying more attention to quality (‘good or not’).

(Source: Shanghai Securities News)

Source: East Money

Author: Shanghai Securities News