China’s NEV Sales Report Card for 2025 Is In
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China’s major new energy vehicle (NEV) makers have released their 2025 sales figures, highlighting strong growth among startups and continued dominance by industry leaders.
On January 1, 2026, China’s leading listed new energy vehicle (NEV) companies released their December 2025 and full-year sales results.
Among the new-generation automakers, Leapmotor delivered 596,555 vehicles in 2025, up 103% year on year, with 60,423 units delivered in December alone. XPeng reported 429,445 vehicle deliveries for the year, a 126% increase, including 45,008 overseas deliveries, and has now expanded into 60 countries and regions.
Industry leader BYD posted full-year sales exceeding 4.6 million vehicles, up 7.73% year on year, with 133,000 vehicles exported in December. The company also recently rolled out its 15 millionth NEV. Xiaomi Auto delivered more than 350,000 vehicles in 2025, with December deliveries surpassing 50,000 units for the first time. Aito, the EV brand jointly developed by Seres and Huawei, delivered over 420,000 vehicles for the year, including more than 57,000 units in December.
Elsewhere, NIO reported 326,028 vehicle deliveries in 2025, representing a 46.9% year-on-year increase. Li Auto surpassed 1.54 million cumulative deliveries, becoming the first Chinese EV startup to cross the 1.5 million milestone.
On December 30, 2025, China’s National Development and Reform Commission and Ministry of Finance jointly announced adjustments to 2026 NEV subsidy policies, shifting from fixed-amount subsidies to price-based incentives. Despite the change, the China Passenger Car Association (CPCA) remains optimistic about a strong start for the auto market in 2026.
In addition, Leapmotor entered a strategic partnership with FAW Group, with FAW subscribing to shares at $7.15 per share, becoming a key shareholder.
