Two of China’s top electric vehicle (EV) makers, BYD and Li Auto, set new monthly sales records in May, spurred by a recovery in consumer demand after a bruising, months-long price war in the ultra-competitive sector, reports the South China Morning Post.
Shenzhen-based BYD, the world’s largest electric-car builder, delivered 240,220 pure electric and plug-in hybrid vehicles to customers last month, beating the previous record of 235,200 units it set in December, according to a filing to the Hong Kong stock exchange.
That represents a 14.2% increase over April and a year-on-year jump of 109%. Li Auto, the mainland’s leading premium EV maker, handed 28,277 units to domestic customers in May, setting a sales record for a second consecutive month.