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Xiaomi's founder has been notably quiet on social media this month, while the company reported 5,100 insurance registrations last week, a 34.62% drop from the previous week. In the broader EV market, BYD led with 45,000 registrations, despite a 25.50% decline, while Nio and its sub-brand Onvo saw significant decreases in registrations. Overall, Zeekr and Lynk & Co delivered 40,715 vehicles in March, marking a 30.18% increase from February.
Electric vehicle stocks in Hong Kong plummeted as US President Trump's new tariffs escalated the global trade war, with BYD down 11.15%, Nio 11.30%, Xpeng 11.40%, and Li Auto 10.82%. The Hang Seng Index fell 9%, reflecting broader market turmoil following China's retaliatory measures, including a 34% tariff on US imports. Analysts suggest that while new tariffs challenge China's economy, the stock market may have more favorable conditions compared to previous years.
China's passenger NEV wholesale sales reached 1.14 million units in March, marking a 37% increase from February and contributing to a total of 2.86 million units in the first quarter, up 43% year-on-year. Major manufacturers like BYD, Geely, and Tesla led the sales, with BYD alone selling 377,420 NEVs. The market rebounded post-Chinese New Year, supported by consumption-boosting policies and active auto shows.
Huawei will unveil its 1.5 MW supercharger on April 22, designed for heavy-duty trucks, capable of charging at 20 kWh per minute and fully charging a vehicle in 15 minutes. This announcement comes as Zeekr plans to launch its 1.2 MW supercharger, while BYD has introduced a 1,000 kW fast charger. Additionally, Huawei showcased an unmanned EV charging robotic arm that can autonomously connect to vehicles.
Xpeng celebrated a significant milestone with the 100,000th Mona M03 rolling off the assembly line just seven months after its launch, achieving record production for a new Chinese electric vehicle. The sedan has consistently delivered over 15,000 units monthly, contributing to Xpeng's strong sales performance. The company plans to introduce the Mona M03 Max variant in May, featuring advanced autonomous driving technology.
Xpeng is set to invest 3 billion yuan (US$413 million) in its electric vertical take-off and landing (eVTOL) aircraft business, with plans to establish a factory in China by 2026, aiming for an annual production capacity of 10,000 aircraft. CEO He Xiaopeng anticipates the global flying car market could reach US$2 trillion in the next two decades, highlighting the significant revenue potential despite low sales volume in the sector. This move comes as Chinese companies seek new transportation avenues amid increasing competition in the electric vehicle market.
Chinese automakers' share of the European EV market fell to 6.9% in February 2025, the lowest since February 2023, due to EU tariffs on Chinese-made vehicles. While overall EV sales in Europe grew by 26%, established brands like Volkswagen gained significant market share. BYD saw a rise in registrations, while MG faced a decline, and total Chinese EV registrations dropped by 3.2% to 9,837 units.
China dominates the humanoid robot supply chain, with 56% of companies based there, yet it still lags in core technologies like AI chips and sensors. Despite this, Chinese firms are rapidly advancing, leveraging cost advantages and government support to compete with global leaders like Tesla. As the country faces a demographic crisis, humanoid robots are seen as a potential solution to offset workforce shortages, with mass production targets set for 2025.
Xpeng has launched its first self-branded EV supercharging station in Hong Kong, marking its expansion beyond mainland China. Located at Convention Square in Wan Chai, the station offers charging speeds of up to 360 KW, exceeding Tesla’s 250 KW superchargers. The initiative aims to enhance ultra-fast charging technology in Hong Kong, with plans for further expansion into Southeast Asia as EV adoption increases.
XPeng's price target has been increased to $20 from $7 by Barclays, reflecting a significant upward revision in the company's valuation. This adjustment highlights growing confidence in XPeng's market potential and performance.
XPeng Inc.
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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
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