Chinese EV makers charge ahead

China's BYD (1211) yesterday said it would make its debut in German and Swedish markets with the first vehicles delivered in the fourth quarter of the year, as its electric vehicle rivals reported higher deliveries in July.

XPeng (9868) deliveries rose 43 percent year-on-year to 11,524 vehicles while Nio's (9866) deliveries rose 26 percent to 10,052 vehicles, including 7,579 high-end electric SUVs and 2,473 high-end electric sedans.

XPeng's deliveries for the first seven months doubled to 80,500 EVs, with cumulative deliveries nearing the 220,000 mark while Nio's deliveries over seven months were up 22 percent to 60,879 vehicles, with cumulative deliveries reaching 227,900 units.

Sales of EVs in China are expected to reach around 450,000 in July, up 102.5 percent year-on-year.