Huawei Technologies’ car division, Aito, leads China’s EV market, topping sales among new competitors for the second consecutive month.
In February, Aito sold 21,142 vehicles, surpassing its peers in the new EV brand category, with the exception of the veteran BYD.
This marked Aito’s lead over Li Auto, which sold 20,251 vehicles for the second consecutive month.
Nio sells 8,132 vehicles, down nearly 20% from the previous month, while Xpeng, facing supply chain issues, sells 4,545 EVs.
Huawei’s rise in the EV market underscores its successful entry, challenging newcomers like Li Auto, Nio, and Xpeng.
Li Auto profitable, Nio’s annual loss rises to 20.7 billion yuan ($2.9 billion) as it strives for profitability.
BYD surpasses Tesla in global sales in Q4 2023 with its range of electric and plug-in hybrid vehicles.
In February, BYD sold 121,748 vehicles, while Tesla’s Shanghai factory deliveries fell to their lowest in over a year at 60,365 units, with exports and domestic shipments evenly split.
Overall retail passenger vehicle sales in China, excluding minivans, saw a 21% year-over-year decline in February to 1.1 million units, a steep 46.2% fall from January.
The decline is typical during Lunar New Year travel, with purchases postponed for potential incentives and discounts.
Renewable energy vehicle sales decreased by 11.6% YoY to 388,000 units, highlighting challenges in the automotive industry.
This landscape is evolving quickly, with technological advancements and international competition shaping the future of mobility in China and beyond.