China’s Electric Vehicle Startups: Xpeng Leads as Rivals Face Mounting Challenges in H1 2025

In the fierce race among China’s electric vehicle (EV) startups, only one name has managed to surpass the daunting sales targets set for the first half of 2025: Xpeng. While most competitors continue to struggle with ambitious goals, Xpeng stands out as the sole player to exceed the halfway mark toward its annual target.

Xpeng and the “200,000 Club”: Leading, But No Room for Complacency

Xpeng, Leapmotor, Li Auto, and HIMA have all crossed the 200,000-unit sales threshold in the first six months of the year, cementing their positions among China’s top new energy vehicle (NEV) manufacturers. Notably, Xpeng is the only brand to have achieved more than half of its annual target, reaching a completion rate of 51.89%. After falling short of its 2024 goal, Xpeng set a more cautious target of 380,000 vehicles for 2025, up from 280,000 the previous year. Popular models like the Mona M03 and P7+ have propelled the company to surpass its total 2024 sales in just the first half of this year.

Leapmotor leads in total NEV sales, driven by the popularity of its C-series family vehicles. The company is set to launch the all-electric B01 sedan in the second half of the year, aiming to compete directly with Xpeng. Leapmotor also plans to introduce the D-series, targeting the premium segment with a price point around 300,000 yuan.

Li Auto continues its steady growth, with a 2025 target of 700,000 vehicles. Meanwhile, HIMA faces significant pressure with its ambitious goal of 1 million vehicles annually, as current monthly sales hover around 40,000–50,000 units.