Electric vehicle start-ups and Tesla’s Chinese rivals, NIO and Xpeng, reported mixed sales last month amid a chip shortage in the global auto industry, reported the South China Morning Post.
Xpeng’s sales increased 10% month on month to 5,686 units in May while NIO’s sales declined 5.5% to 6,711 units compared to the previous month.
According to the China Passenger Car Association, Xpeng’s and NIO’s sales still fell short of Tesla’s numbers. Tesla’s deliveries fell 27% to 25,845 in April. Citi raised its EV estimates from 1.79 million units to 2.52 million units in 2021.