NIO & XPENG Smart EV Sales Jump in 2024

Sign up for daily news updates from CleanTechnica on email. Or follow us on Google News!

There has been a lot of hype in recent months about EV sales growth slowing. As we’ve discussed here on CleanTechnica, the story actually varies geographically and by brand. Some brands are seeing sales rise quickly, while others (most notably Tesla) are seeing them stall or shrink. News this week out of China is that two of the biggest EV startups in the country, NIO and XPENG, have seen strong sales growth in 2024.

NIO Sales Up 21% in 2024

Starting with NIO, the biggest figure it’s highlighting this week is that its April 2024 deliveries were up 134.6% year over year, reaching 15,620 units. Multiply that by 12 and that would be 187,440 deliveries for the year. The April deliveries came from “8,817 premium smart electric SUVs and 6,803 premium smart electric sedans,” according to the company.

For the first four months of the year combined, NIO had 45,673 deliveries, an increase of 21.2%. Maybe it’s not 50% growth (or 135% growth), but 21% growth is nothing to complain about!

Cumulative deliveries across the life of the company rose to 495,267 units.

Furthermore, NIO just launched another hot new EV. “On April 25, 2024, NIO launched its 2024 ET7, a premium smart electric executive sedan. Featuring major enhancements in interior and exterior design and digital cockpit, the ET7 is tailored to cater to the demands of premium executive users. Deliveries of the 2024 ET7 began on April 30, 2024,” the company writes.

XPENG Sales Up 23% in 2024

Meanwhile, XPENG sales grew 33% year over year in April, reaching 9,393 deliveries. Multiply that by 12 and you’d get to 112,716 deliveries across one year. The new XPENG G9 accounted for 1,959 of those deliveries.

Across the first four months of 2024, XPENG’s growth was similar to NIO’s. The company’s 31,214 deliveries meant a 23% increase year over year. Again, 23% growth is nothing to cry about!

Interesting, XPENG’s highly advanced XNGP driver-assist suite had an impressive 82% user penetration rate in urban settings. Furthermore, XPENG is making progress bringing its unique driver-assist suite to Europe. “During the same month, XPENG successfully conducted tests for its NGP functions on the highways in Germany, making steady progress in the R&D phase toward the rollout of Highway NGP for overseas markets,” XPENG writes. There’s more to write on its AI and driver-assist technology, but that’s probably best left to a separate article or two.

EV Sales Hopping

Overall, I think it’s safe to say that the EV revolution is alive and well in China. EV startups continue to see strong growth, and are reaching numbers that are comparable to the sales numbers of many legacy brands in China and other big auto markets.