China EV insurance registrations for week ending May 5: Nio 3600, Tesla 11000, BYD 52600, Xiaomi 1300

Last week, major Chinese electric vehicle (EV) manufacturers saw a decline in insurance registrations, attributed to the Labor Day holiday from May 1-5 impacting workdays. Notably, BYD led with 52,600 registrations, Tesla followed with 11,000, while Nio and Li Auto registered 3,600 and 5,300 respectively. Xiaomi and Xpeng recorded lower figures, at 1,300 and 1,400 respectively.

Despite the weekly drop, annual comparisons show significant increases in deliveries for April. Nio's deliveries surged by over 134% year-on-year, while Li Auto and Xpeng also reported growth. BYD notably expanded its international market presence, achieving record overseas sales.

The EV market dynamics are further influenced by new model launches and strategic partnerships, such as Tesla's collaboration with Baidu for advanced driver-assistance features in China. Xiaomi has also entered the EV market, launching its first model, the SU7, with substantial pre-orders.