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China’s Tesla challengers report record first-quarter sales, but still face uphill battle to catch global EV leader
- NIO and Xpeng reported a fivefold increase in first-quarter sales from a year ago as Chinese motorists switch to EVs
- Elon Musk’s company is still selling more cars in a single month in China than most of its local challengers are managing in a quarter
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China’s main Tesla rivals, NIO and Xpeng, reported record sales in the first quarter of this year as smart electric vehicles increasingly hit the mark with mainland motorists.
Although both saw deliveries surge more than fivefold from the same period of 2020, they are still a long way behind the American electric-car giant.
Shanghai-based NIO said on Thursday that it delivered 20,060 vehicles from January to March, a huge leap of 423 per cent from the same period a year ago.
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Guangzhou-headquartered Xpeng sold 13,340 units in the same period, up 487 per cent.
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Tesla starts delivery of made-in-China cars
Tesla starts delivery of made-in-China cars
“Strong sales are within expectations, but theChinese carmakers need to aim high because Tesla remains the dominant player in the premium EV segment,” said Gao Shen, an independent analyst of manufacturing in Shanghai. “Conventional carmakers’ new models to hit the market this year will also add pressure on the Chinese companies.”
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