3 new China-based Tesla rivals see sales surge as BYD leads

Not only China-based BYD which is now a formidable electric car-maker but three other Tesla rivals have also seen their sales surge in June in China as demand for EVs come back to track.

According to a report in the South China Morning Post, Beijing-based Li Auto hit an all-time high of 32,575 deliveries last month, up 15.2 per cent from May.

While Shanghai-based Nio delivered 10,707 cars in June, three quarters higher than the volume a month earlier, Xpeng, based in Guangzhou, delivered 8,620 units, its highest monthly sales so far in 2023.

The three EV builders, listed in both Hong Kong and New York, are being considered as China’s best response to Elon Musk-run Tesla.