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China's electric vehicle makers report strong July sales

China's electric vehicle makers report strong July sales

2/8/2021 5:43:00 PM

China's electric vehicle makers report strong July sales

Electric vehicle sales at China's Li Auto and Xpeng Inc more than tripled in July from a year ago, while they doubled at Nio Inc, helped by robust ...

BusinessElectric vehicle sales at China's Li Auto and Xpeng Inc more than tripled in July from a year ago, while they doubled at Nio Inc, helped by robust demand for new energy automobiles in the world's biggest auto market.People stand near the logo of Chinese electric vehicle (EV) maker Li Auto at a product launch event in Beijing, China May 25, 2021. Picture taken May 25, 2021. REUTERS/Yilei Sun

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02 Aug 2021 10:11PMShare this contentBookmarkREUTERS: Electric vehicle sales at China's Li Auto and Xpeng Inc more than tripled in July from a year ago, while they doubled at Nio Inc, helped by robust demand for new energy automobiles in the world's biggest auto market.

The rise in July deliveries comes at a time when electric car makers have been expanding manufacturing capacity in China, encouraged by the country's policy of promoting greener vehicles.AdvertisementAdvertisementNio, Li and Xpeng compete with U.S. electric car maker Tesla, which dominates the EV market in China. headtopics.com

Nio, the maker of the ES8 and ES6 electric sport-utility vehicles, said it delivered a total of 7,931 vehicles in July, up 124.5per cent from a year earlier. Deliveries had more than quadrupled in July 2020.Xpeng, which makes the P7 sedan and G3 sport-utility vehicles, said its July deliveries jumped 228per cent to 8,040 vehicles.

Li, the producer of Li ONE SUVs, said it delivered 8,589 Li ONEs last month, an increase of about 251per cent.AdvertisementAdvertisementThe strong sales numbers for the EV makers come as a global recovery in auto sales is being threatened by chip shortage that has forced automakers around the world to adjust assembly lines, cut productions and shutter factories.

U.S.-listed shares of Li and Xpeng rose about 5per cent in early trading on Monday, while Nio gained about 2per cent.(Reporting by Ankit Ajmera in Bengaluru; Editing by Shailesh Kuber) Read more: CNA »

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