BEV means Battery Electric Vehicle. These cars run only on electricity and don’t use gas or diesel, so they are better for the environment because they don’t pollute the air.
NEV means New Energy Vehicle. It refers to cars that use new types of energy, like electricity or hydrogen, instead of just gasoline or diesel.
Car
Leap Motor A10
The Leap Motor A10 is an electric SUV made by a company called Leap Motor. It's designed to have a long driving range and includes smart technology features.
The premium segment means cars that are more expensive and usually have better features and quality. They are aimed at people who want something special.
In a battery subscription model, you can buy an electric car but rent the battery instead of buying it with the car. This can make the car cheaper to buy initially and lets you change the battery later if needed.
Range extended hybrids are cars that can run on electricity for short distances but also have a gas engine that helps recharge the battery for longer trips.
Car
Lee i6
The Lee i6 is a new electric car made by Lee Auto. It was designed specifically to run on electricity and is part of their push to make more electric vehicles.
Car
Lee i8
The Lee i8 is a bigger electric SUV made by Lee Auto. It's part of their range of electric vehicles and has also been popular among buyers.
LiDAR is a technology that helps cars understand their surroundings by using lasers to measure distances. It's important for self-driving cars to know where they are and what is around them.
LFP batteries are a type of battery used in electric cars that are safe and last a long time. They help power the car and are often cheaper than other types of batteries.
The Ford Galaxy is a large family car that can fit many people and their stuff. It's great for families or anyone who needs a lot of room when traveling.
The Geely Galaxy M9 is a type of SUV made by a Chinese car company called Geely. It can carry six people and has been in the news for a long trip it made from China to Europe.
A plug-in hybrid system is a type of vehicle that uses both a gasoline engine and an electric motor. You can charge it by plugging it in, which helps save fuel.
A kilowatt hour is a way to measure how much energy a battery can store. If a battery has a higher kWh rating, it can store more energy and usually power the vehicle for a longer time.
All-wheel drive means that all four wheels of the car get power from the engine, which helps the car grip the road better, especially in bad weather or off-road.
An engineering trial is a test that car makers do to see how well a new vehicle works before they start selling it. It helps them find and fix any problems.
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Welcome back to the podcast.
Today, November's sales show fresh monthly records in China.
It's the first day of the month.
And so we'll take a look at how all the big names have done.
Plus, stay tuned.
Later in the show, I'll tell you about an 18,000 kilometer trek for one Chinese EV.
Welcome to EV News, China, the podcast dedicated to the world's
largest electric vehicle markets.
Each day, I bring you the latest headlines, insights and analysis
from the heart of China's booming EV industry
and decode how fast moving developments in the east are shaping the global EV landscape.
Let's get into November's numbers then.
China's market for new energy vehicles sped up once again in November
with most big makers setting fresh monthly targets, even as competition increases.
Taken together, the figures show a market that is still expanding,
but also concentrating around a handful of large domestic groups.
The next question is whether these makers can carry that momentum into 2026.
Price wars are deepening at home and they're pushing harder into Europe and Southeast Asia.
But how do they do to finish off 2025 with just one month to go?
These are the domestic manufacturers by rank last month.
Number one, you won't be surprised to hear was BYD.
Then it was SAIC and Geely.
That's the top three steps, gold, silver and bronze.
Working our way through the rest of the top 10 after BYD, SAIC and Geely.
Comes Chang'an and Cherry.
That rounds out the top five.
And then HIMA or HEMA, LeapMotor, Zika, Greatwall and Xiaomi.
So that's the top 10.
If you're wondering where Tesla is, well we're talking about domestic names here.
Tesla's Shanghai wholesale number for November.
So these include exports as well by the way.
That was 86,700 units.
So 86,700 would put that somewhere around sixth place.
I think in the table if we were including foreign automakers in there as well.
Let's start with number one.
BYD stayed well ahead of the pack.
It delivered around 480,000 new energy vehicles in November alone.
Enough to retain first place even though its total volume
was lower than the same month last year.
Year on year, November was down 5.25% off of last year's November.
Under the surface, the business is shifting fast.
Pure battery electric passenger cars rose 20% year on year.
Plug-in hybrids fell.
BYD sold 237,540 pure BEVs.
The company's sub-brands, ocean and dynasty lines,
remained its backbone, together accounting for more than 423,000 vehicles of the 480,000 vehicles.
Adding to those, well there was FCB, 37,000, Denzer, 13,000, and the ultra-luxury Mark
Yang Wang delivering 703.
However, it's 703 vehicles in a month and the Yang Wang vehicles are incredibly expensive.
Overseas sales of new energy vehicles passed 130,000 units in the month,
a new high taking BYD's cumulative global NEV sales above 14.7 million.
Rivals are growing fast, but everyone in China trails BYD by a wide margin.
So let's get into the other names.
Number two is SAIC ranking second with 149,900 NEV sales.
Its IM Motors brand reached 13,500 units.
Its third straight month above 10,000.
Australia, the UK and other markets now get the IM Motors vehicles
badged or at least presented by their MG brand.
SAIC's passenger vehicles sold 42,000 NEVs helped by demand
for the MG4 and the An Qing edition while SAIC Maxis topped 8,000 and SAIC GM's
joint venture added 11,000.
In third place in the tables, I mentioned Geely.
Well, Geely reported 132,661 NEVs that includes the Galaxy series.
However, they do split out the Zika and Lincoln Co brands.
I'll get to those in a moment.
That's our top three.
Right, number four, Chang'an.
They delivered 125,000 NEVs.
And that is up 23% year on year.
Of those, DPAL added around 33,000 and the Chang'an Xinhuan added about 47,000.
And in fifth place was Cherry.
They sold 272,536 vehicles,
but we're interested in how many NEVs they sold.
They are a big exporter, by the way, but I'll get into Cherry's NEVs first.
They sold 117,000 or so new energy vehicles.
That is up 50% at Cherry and it's actually a new monthly record.
Exports climbed, though.
They exported almost 137,000 vehicles.
Of course, they weren't NEVs and that's 30% up on their exports.
Cherry's now recorded seven straight months with exports above 100,000,
keeping Cherry as China's top car exporter, but like I say, they aren't NEVs.
Now, Harmony Intelligent Mobility Alliance, HIMA,
they delivered 82,000 vehicles, up 90%, and another monthly record.
Let's get into some of the big names that do export to Western markets, though.
Well, Leap Motor is in seventh place.
And Leap Motor has reached its full year 2025 sales goal.
They stay six weeks ahead of schedule,
underlining how fast it's climbing the global EV rankings.
In November, the company delivered 70,327 vehicles.
That is a record month and more than 75% above the figure from last November.
That capped nine straight months of strong growth.
On November 27th, Leap Motor said cumulative sales for the year
had hit 500,000 units, that was its annual target,
and they lifted their 2026 goal to one million vehicles.
The finances are keeping pace too.
Third quarter revenue doubles year on year to $19.45 billion new one,
about $2.7 billion US dollars.
The gross margin reached 14.5%.
Operating and free cash flow both turned positive,
a sign that the core business is edging towards durable profitability.
Leap Motor is also broadening its range.
The A10, a long-range smart SUV,
was unveiled at Auto Guangzhou in 2025 this year,
rounding out the four-series lineup of ABC and D models.
Then on November 27th, the firm launched the Laffer 5,
a design-driven compact fastback pitched at buyers born after 1995,
they say, with a promotional starting price of $92,800 yuan,
that's about $12,500 US dollars through to the end of 2025.
Okay, let's continue talking about the sales rankings in China.
And let's get on to number eight, Zika Group.
We split them out from Julie.
Zika set a new delivery record in November
for the second straight month,
highlighting renewed momentum
for the Julie-backed electric and hybrid maker.
The company delivered 63,902 vehicles in November,
that's up 7% from a year earlier
and 3.5% from the previous month in October.
Growth was led by the premium electric Zika mark
and supported by Lincoln Co.
Zika branded models hit an all-time monthly high
of almost 29,000.
That was 7% up year on year
and ended three consecutive months of annual declines.
Compared with October, Zika deliveries jumped by 35%,
pointing to a sharp rebound in demand,
maybe improved supply, probably both.
Lincoln Co. delivered 35,000 vehicles in November,
that's up 7% from a year earlier,
but down compared to October.
The brand still shows solid growth though over the last year,
though the latest figures do hint
a bit of short-term volatility.
Let's look at the year so far then.
From January to November,
Zika Group has delivered 510,000 vehicles up,
12.4% compared to the first 11 months of last year.
Of that, Zika was 194,000.
Lincoln Co. selling 316,000.
All right, we'll get into number nine.
That'd be Great Wall Motor in the top 10.
Great Wall Motor is leaning more on markets
outside of China,
and its latest figures show
how fast the shift is happening.
In November, Great Wall Motor sold 133,000 vehicles worldwide.
That was up 4.6% from a year earlier,
but down from October.
Overseas demand was the main driver.
Great Wall Motor exported 57,000 vehicles in November.
Their fourth consecutive monthly record exports
are now 43% of Great Wall Motor,
almost a third higher than a year ago.
For a company once dominated by China's domestic market,
there's a clear turn there towards international revenue.
New energy vehicles though
are central to the push at GWM.
They sold 40,113 NEVs in November,
including BEVs and plug-in hybrids.
They made up about 30% of their monthly volume.
Nev sales rose 11.4% year on year.
Performance by brand was pretty uneven.
Haval, the group's main source of volume, 75,000 units.
That was nearly 57% of their business.
Tank is their off-road brand.
They had the seventh straight month above 20,000 units,
up 20% year on year, 8% year month on month.
The premium brand, Wei, reached almost 13,000 units.
That's 81% up year on year.
From January to November,
Great Wall Motor has sold 1.2 million vehicles worldwide,
up 9% compared to the first 11 months of 2024.
Right, we'll round out the top 10
and I've got a final story.
I think you'll quite like on the way in a moment.
Stick around.
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is using too much wasabi.
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with state street investment management.
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including possible loss of principle.
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Now welcome back to the podcast.
Now rounding out the top 10 is Xiaomi.
Their electric vehicle arm
has logged a third consecutive month of strong volumes.
November deliveries again,
topping 40,000 units according to company data.
The tally drawn from Xiaomi's internal data
covers vehicles handed over between November the 1st
and the 30th across their full lineup.
They didn't give us an exact number.
They simply said remained above 40,000.
Still a great number though
for a company that wasn't even around two years ago.
The update follows a key production milestone.
I told you on November 20th
that Xiaomi had marked the rollout
of its 500,000th vehicle,
achieved 19 months after the company
began customer deliveries.
Inside the company,
the event's been cast as a new starting point
with public thanks offered to early buyers.
Sustained deliveries at this level
suggest Xiaomi is moving beyond a launch surge
and into a more durable scale.
Holding above 40,000 units a month
in China's intensely competitive new energy vehicle market,
points to gains in manufacturing efficiency,
quality control and supply chain organization.
Expansion at Xiaomi is picking up speed.
They're going to open 36 more stores
and enter seven new cities this month in December,
including Heng Yang and Mi and Yang.
After it's after sales network
now stands at 249 service centers in 144 cities.
So who wasn't in the top 10?
Who just missed out?
Well, NIO is heading into the end of the year
with strong momentum.
In November, they delivered 36,000 vehicles
up 76% from a year earlier,
the fourth month in a row,
the deliveries across its brand's top 30,000 units.
The flagship NIO mark led the way in November.
Envo, the more affordable brand,
added almost 12,000 and Firefly,
the entry level buyers brand added 6,000.
By the end of November,
total 2025 deliveries had reached 949,000 vehicles.
That is about 800,000 NIO branded vehicles
and the rest between Envo and Firefly.
The focus is now on whether NIO can turn a strong year
into a record breaking fourth quarter.
The company delivered 40,000 vehicles
October 36,000 vehicles November.
A quarter to date is just over 76,000
to hit the low end of its guidance.
It has to do 42,000 in December.
But really at NIO, it's all about profit.
I'll get onto that in a moment.
The key driver for this surge of success
is the new generation of the ES8.
That's an SUV recently updated
and it costs around 56,000 US dollars equivalent.
So this is very much in the higher premium segment.
The ES8 had 10,000 cumulative deliveries
in just 41 days of its third generation.
NIO says order intake for the model
stayed steady through November
and they're ramping up production.
Together with the Envo L90,
the ES8 is expected to lift
the group's average selling price.
Higher pricing looks to be sustained at NIO.
And that will help margins.
NIO is a pure electric manufacturer.
They're pushing back on the current trend
towards E-Revs building on a decade of EV development.
80% of its users go for the battery subscription model
which separates the battery from the vehicle purchase.
The key for NIO is ending this year with profit.
Many people will look for it to become
a profitable company or get as close to.
Lee Auto missed out on the top 10
but they are speeding up their move
towards the top 10 with more strong sales in November.
They delivered 33,000 vehicles
lifting total deliveries since launch to 1.5 million.
That momentum is helping Lee Auto shift away
from range extended hybrids
and pushing deeper into the purebeath market.
Leading the effort is the Lee 6.
So the Lee i6 launched in September this year
on a dedicated BEV platform.
The founder and chief exec Lee Xiang
says combined orders for the old electric Lee i6
and the larger i8 SUV has passed 100,000 units combined.
To avoid bottlenecks as the volumes rise
Lee Auto has put in place dual supply systems
for the battery packs
and monthly i6 production should be 20,000.
The i6 is pitched at high efficiency,
long range family drivers.
It has a low drag body, short front overhang
and a three meter wheelbase.
It has LiDAR full width DRLs
and their new VLA artificial intelligence.
Under the skin it's a really fast charging
5C LFP battery
in-house silicon car by powertrain technology.
Lee Auto is backing their move back towards BEVs
with rapid infrastructure and retail growth.
Lee Auto has 544 retail centers in 157 cities.
Hey we'll finish off with one story
and that is Geely's Galaxy M9.
The Galaxy M9 is an SUV
and they just drove it 18,000 kilometers
from China to Europe.
They did a live stream when they entered Paris
to tear down the vehicle.
It's a six seater, the one that they drove
was a six seat M9
and it crossed Eurasia on a route
that mixed road types and weather conditions
posting regular updates during the trip.
Then when it arrived 18,000 kilometers later
they tore it down live stream on camera
and talked about what they found.
Now it's built on Geely's GEA EVO platform.
It uses a plug-in hybrid system
with CATL batteries.
Buyers can choose either an 18 or 41 kilowatt hour battery pack.
They say 1500 kilometers maximum on combined fuels.
All-wheel drive, Geely's Galaxy Brands flagship SUV
the M9 is 5.2 meters long
and a three meter wheelbase with, like I say,
six seats inside, very luxurious vehicle.
Starts though at 184,000 you won,
that's about 25,000 US dollars equivalent.
Industry Watchers were looking at the 18,000 kilometer run
as not only an engineering trial
and a high-profile marketing stunt
and the tear down afterwards revealing
some expected wear on some parts
but look all of the information provided
did of course come from Geely itself.
Analysts will want independent test data
if they want to take it seriously
but more importantly a firm timeline
for when that M9, given they drove it to Paris
when it will be sold outside of China.
And that's your podcast for today.
Thank you for listening.
Catch you on the next one.
And as a result, my savings took a back seat.
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what you're wasting money on,
it takes action to save you money.
First, the app looks at your income and monthly expenses
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to stay under budget.
Rocket Money also finds and cancels
unwanted subscriptions for you
and even negotiates better rates on your bills
so you have more money in your pocket.
On average, Rocket Money members can save up to $740 a year when using all the app's premium features.
Users love the app, with over 186,000 5-star ratings.
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About this episode
November saw record-breaking sales for new energy vehicles (NEVs) in China, with BYD leading the pack by delivering around 480,000 units. The episode dives into the competitive landscape, highlighting key players like SAIC, Geely, and Chang'an, while discussing the impact of price wars and international expansion. Notably, Leap Motor achieved significant growth, surpassing its annual sales target early. The episode wraps up with a fascinating story of Geely's Galaxy M9 SUV, which completed an 18,000-kilometer journey from China to Europe, showcasing its engineering prowess.
