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A new energy vehicle startup has overtaken its competitors to claim the top spot in China’s EV market last month. The company, a joint venture between a major Chinese automaker and a leading tech company, saw a remarkable 83% increase in deliveries, reaching 40,016 units in January compared to the same period last year. Meanwhile, the previous market leader experienced a 27% growth, with deliveries totaling 32,059 units, but fell to third place overall.
Additionally, a prominent smartphone maker’s electric vehicle division surpassed the former leader, delivering over 39,000 units last month.
In Shanghai, a well-known electric vehicle manufacturer nearly doubled its monthly deliveries, hitting 27,182 units, driven largely by strong sales of its recently launched flagship model.
On the other hand, two other major automaker startups experienced declines. One recorded an 8% decrease, with 27,668 units sold, while the other saw a significant 34% dip to just over 20,000 units during the period.
Across the board, most early-stage EV manufacturers saw a slowdown in January. Among these, one reported a 47% decrease, another a 44% decline, and some saw drops of 37%, 31%, and 22%, respectively.
This pattern is partly due to the typical post-year-end market slowdown, as Chinese automakers often ramp up promotional activities late in the year to meet annual sales goals. Additionally, a recent policy change has increased the vehicle purchase tax from zero to 5% based on the selling price, raising costs for consumers starting January 1.
According to industry data, retail sales of passenger cars in China from January 1 to 18 totaled 679,000 units, representing a 28% decrease compared to the same period last year and a 37% decline from the previous month. Of these, new energy vehicle sales amounted to 312,000 units, down 16% year-over-year and 52% month-over-month.
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