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In the rapidly evolving world of electric vehicles (EVs), Chinese manufacturers are making significant strides. As we approach the midpoint of 2025, some companies have publicly declared their sales targets for the year, while others have remained silent on the matter.
Leapmotor, a rising player in the EV market, has set a sales target of 500,000 units for 2025. This ambitious goal follows a strong performance, with the company reporting a record-breaking 50,129 vehicles sold in July alone, marking a 4.4% increase from June and a staggering 126.9% increase from the same month last year.
Other major Chinese EV makers, such as BYD, XPENG, Nio, HIMA (Huawei-backed), Great Wall Motor, and Li Auto, have demonstrated impressive sales growth in 2025. However, specific full-year sales targets for 2025 have not been explicitly stated in the available sources.
BYD, for instance, has been the largest in volume with approximately 100,000 overseas sales in the first half of 2025 alone, indicating an ambitious scale for the full year. XPENG sold over 230,000 vehicles globally in the first half of 2025, with rapid growth, but without an explicitly stated full-year target.
Nio and HIMA, among others, have reported strong ongoing sales, but no detailed future targets have been disclosed in these sources. It's worth noting that concerns exist about some Chinese EV brands potentially overstating sales figures amid intense competition, which may affect the credibility of these targets.
In July, BYD sold 2,458,914 passenger vehicles, a 26.2% increase from the same period last year. Xpeng sold 233,906 vehicles, up 270.3% year-on-year. Huawei's HIMA alliance saw an 8.3% increase in EV sales in July, while Nio Group had a 2.5% increase. Li Auto sold 30,731 vehicles, down 15.3% from June and down 39.7% from the same month last year.
Geely, another significant player, reported a significant 120.4% increase in EV sales in July. Geely Auto sold 130,124 vehicles in July, a 6.3% increase from June and a 120.4% increase from the same month last year. HIMA sold 47,752 vehicles, down 9.5% from June and up 8.3% from the same month last year.
China is also making strides in autonomous vehicle testing, with 24.41 million kilometres of testing across a citywide program, involving 17 companies.
In the first seven months of 2025, some companies have shown resilience amid market fluctuations. For instance, BYD's EV sales were nearly flat with 0.1% growth in July compared to the same month last year. Li Auto sold 234,669 vehicles in 2025 so far, down 2.2% year-on-year.
Leapmotor's explicit sales target of 500,000 units for 2025 serves as a beacon of ambition in the EV market. However, without detailed targets from other major players, the competitive landscape remains somewhat unclear. As the year progresses, it will be interesting to see if other manufacturers follow suit and disclose their sales targets.
In other news, Nio launched the large SUV L90 with all-or-nothing pricing this week, and Tesla China registered 37,830 EVs in the first four weeks of July, suggesting sales of around 41,000 for the month. Xiaomi sold over 30,000 EVs in July, up from over 25,000 in June. Polestones (Rox Motor) sold 1,316 vehicles in July, with no year-on-year comparison provided. Great Wall Motor sold 34,593 vehicles in July, down 5.0% from June and up 43.3% from the same month last year.
- The industry of new energy vehicles, particularly plug-in hybrids, is witnessing significant advancements in China, with automotive giants like Leapmotor, BYD, XPENG, Nio, HIMA (Huawei-backed), Great Wall Motor, and Li Auto showing impressive sales growth.
- As financing is crucial for the expansion of the energy sector, it's noteworthy that companies like Leapmotor have set sales targets, such as a goal of 500,000 units for 2025, which necessitates substantial investments in technology and transportation.
- While some Chinese manufacturers have offered insights into their sales targets for the year, such as Leapmotor, other significant players like BYD, XPENG, Nio, and HIMA have yet to explicitly state their full-year targets for 2025, leaving the competitive landscape somewhat uncertain.
- As technology continues to revolutionize the automotive sector, China is also making strides in autonomous vehicle testing, with companies involved in citywide programs, covering millions of kilometres.
