XPeng, a Chinese electric vehicle manufacturer, delivered 16,000 vehicles in December, increasing 181 percent from the previous year, capping a year of significant growth in the world’s largest automobile market.
According to a statement released today by XPeng, fourth-quarter deliveries totaled 41,751 units, up 222 percent year over year. XPeng, based in Guangzhou, sold 98,155 electric vehicles in 2021, up 263 percent year over year.
The firm has two billionaires: CEO He Xiaopeng is worth $8.8 billion, while co-founder Xia Heng is worth $1.5 billion, according to the Forbes Real-Time Billionaires List. Alibaba, which owns an 11 percent investment in XPeng, as well as funds affiliated with IDG and 5Y Capital, are among the company’s investors.
NIO, a Shanghai-based electric vehicle manufacturer, also announced growth for December and the fourth quarter today. Last month, the company supplied 10,489 automobiles, up 49.7% from the previous year; in the fourth quarter, it delivered 25,034 vehicles, a quarterly high and a 44.3 percent year-over-year rise.
Singapore’s Newest Unicorn is a Ninja Van. B Capital NIO Chairman William Li is now worth $4.8 billion on the Forbes Real-Time Billionaires List after raising $578 million from Alibaba. Tencent, the Chinese Internet behemoth, owns 10% of the firm.
In the last decade, China has become a global leader in electric vehicles. According to the state-run China Daily, deliveries of electric vehicles in China increased by 141 percent in October to 320,000 units, citing numbers from the China Passenger Car Association. EVs, including plug-in hybrids, accounted for nearly 19 of every 100 passenger cars sold in the country that month. According to the publication, the EV share in October was just 5.8%, compared to only 5.8% in 2020. New energy vehicle deliveries increased 191.9 percent year over year to 2.14 million units in the first ten months of the year, giving them a 13 percent market share. Some analysts anticipate that chip shortages and decreasing government subsidies would stifle growth in 2022.