AsianFin -- As 2025 begins, Chinese electric vehicle (EV) startups are releasing their December and annual performance reports. Among the 12 key players tracked by TMTPost, Li Auto led the pack. The company delivered over 50,000 vehicles in December, marking a milestone in monthly deliveries and securing the top spot for the year with more than 500,000 cars sold.

Following Li Auto, Harmony Smart Mobility (Hongmeng Zhixing) delivered 444,956 vehicles in 2024, securing the second place. Leapmotor followed closely with nearly 300,000 units in 2024. NIO delivered over 30,000 units in December, the first time in a single month, bringing its total annual sales to 220,000.

December is traditionally a critical month for car companies as they push to meet annual sales targets. As the trade-in policy came to an end in the year end, and the Lunar New Year's Day approaches, EV makers scrambled to seize the opportunities to sell more cars.

Notably, NIO delivered 31,138 vehicles in December, marking a 72.9% year-on-year increase and setting a new monthly record. The success was largely driven by the delivery of over 10,000 units of the L60, a model launched to target high-demand segments. 

XPeng Motors also posted impressive figures in December, delivering 36,695 vehicles, a 82.43% increase from the previous year. It was bolstered by the success of its MONA M03 and P7+ models, which helped it secure its position as a leading player in the market.

However, XPeng still fell short of its 2024 target of 280,000 units, with total deliveries standing at only 190,068 units. The company aims to focus on its product portfolio, launching new models in 2025 and striving to stay competitive with AI-powered vehicles.

As a rising star among new energy vehicle (NEV) manufacturers, Xiaomi Motors successfully met its annual sales target in 2024.   

On November 18, Xiaomi SU7 model surpassed its annual goal of 100,000 deliveries ahead of schedule. Following this milestone, Lei Jun, Xiaomi's CEO, announced on social media that the company would aim for 130,000 deliveries by the end of 2024. 

According to Xiaomi EV’s sales data in December, the SU7 achieved over 25,000 deliveries in a single month, elevating the company’s total annual sales to 135,000 vehicles—a 103% completion rate of its revised target.

In December, Xiaomi EV added 50 new stores, bringing its total to 200 locations across 58 cities nationwide. During a livestream on December 31, Lei revealed the company’s ambitious goal for 2025 of 300,000 vehicle deliveries. 

One of the outstanding players in the EV market this year is Avatr, which saw continuous growth, particularly thanks to its Avatr 07 model featuring extended-range technology. In December, the company delivered 11,067 vehicles, marking its third consecutive month with over 10,000 units delivered. 

In December, Avatr secured over 11 billion yuan in Series C funding, marking one of the largest investments in the auto sector in 2024. This financing round strengthened their war chest  for maintaining its position amid intensified competition in the electric vehicle market.

Despite strong performances from some companies, others faced challenges in achieving their sales goals. IM Motors (Zhiji) reported an annual delivery total of 65,505 vehicles, but its December sales of approximately 7,900 units showed a decrease from the previous month.

Looking ahead to 2025, the EV industry is expected to confront even more cut-throat competition, with price wars anticipated to intensify as companies scramble for market share.