Sales Report for New Energy Vehicle Companies in May Released; BYD’s Li Yunfei Responds to “Car Circle Evergrande” Concerns

Sales Report Highlights

Recently, several new energy vehicle companies announced their sales figures for May. Zeekr Technology, Leap Motor, Hongmeng Zhixing, and Li Auto all surpassed 40,000 units in sales. Zeekr delivered 46,538 vehicles, Leap Motor delivered 45,067, Hongmeng Zhixing delivered 44,454, and Li Auto delivered 40,856. Xpeng has delivered over 30,000 units for seven consecutive months, while Xiaomi delivered over 28,000 units, and NIO delivered 23,231 vehicles.

Commentary: The significant sales growth among various new energy vehicle companies in May indicates increasing market competition. These companies are attracting consumer attention and purchasing power through new model launches and improved services.

Li Yunfei of BYD Addresses Concerns

On May 30, in response to recent discussions surrounding “Car Circle Evergrande,” Li Yunfei, General Manager of BYD’s Brand and Public Relations, addressed concerns on social media. He stated that BYD’s 70% debt ratio is relatively low compared to many foreign car manufacturers. In contrast to the total liabilities of over 1 trillion yuan for established car companies, BYD’s 580 billion yuan in total liabilities poses no danger. Regarding claims of BYD’s lengthy payment cycles, Li emphasized that these are comparable to its competitors. He believes that, overall, the asset-liability situation of mainstream Chinese car manufacturers is better than that of foreign companies, and there is no basis for the term “Car Circle Evergrande” in reference to them.

Commentary: For 2024, BYD is expected to report impressive figures in revenue and net profit, with explosive growth in overseas sales. The company’s strong financial performance and rapid expansion into international markets demonstrate its resilience in industry competition, which could enhance its valuation in the new energy vehicle sector.

Deng Chenghao of Deep Blue Automotive Responds to “Soul Theory”

On May 31, at the 2025 (Third) Future Automotive Pioneer Conference, Deng Chenghao, Vice President of Changan Automobile and CEO of Deep Blue Automotive, stated that the true essence of the automotive industry lies in “user experience.” He emphasized the importance of using technology to benefit every consumer and aims to deliver the best experience to users. Deng believes that fixating on the concept of “soul” is unproductive, and “experience is king.”

Commentary: Deng Chenghao’s remarks underscore the central role of user experience in the automotive industry, indicating Deep Blue Automotive’s willingness to collaborate with Huawei to enhance intelligent experiences. This strategic integration could not only improve Deep Blue Automotive’s brand image but also stimulate innovation across the entire smart electric vehicle sector.

Xiaomi Automotive Expands with New Stores

On May 31, Xiaomi Automotive announced via Weibo that it opened 29 new stores in May, bringing the total to 298 stores across 82 cities nationwide. Plans for June include an additional 37 stores, expected to cover cities such as Baoji and Cangzhou. As of May 31, Xiaomi Automotive has established 153 service points nationwide, spanning 88 cities.

Commentary: The addition of 29 new stores in May, with plans for further expansion in June, will help enhance brand recognition and consumer accessibility, positively impacting sales growth. As store coverage increases, Xiaomi Automotive’s competitiveness is likely to strengthen.

Ford Recalls Nearly 30,000 Vehicles in the U.S.

According to reports from CCTV on May 31, Ford Motor Company is recalling 29,501 vehicles in the United States. The National Highway Traffic Safety Administration stated that the recall is due to the potential detachment of vehicle control arms, which could lead to a loss of steering capability and increase the risk of accidents.

Commentary: Ford’s recall of nearly 30,000 vehicles has raised concerns regarding its quality management and safety. This incident may prompt investors to reassess overall safety standards within the automotive manufacturing industry.

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