Q1 2022 China AV Industry Summary

In the past month of March, electric vehicle sales with local Chinese automakers hit a new record. Among new generation OEMs, Xpeng remained the top with 15,141 vehicles delivered and Neta jumped to the second with 12,026 delivered. Leapmotor became the new rising star with a recode of 10,059.

Meanwhile, the traditional automaker BYD announced that it has stopped producing gas-fueled vehicles in March to focus on electric and hybrid models. The news came with its March sales statement, in which BYD reached monthly sales of 104,338 passenger cars for the first time (53,664 pure EVs and 50,674 duel-mode vehicles).

Behind the EVs, a growing list of companies on the industry chain continues to receive funding for further product development and commercialization.