China’s electric vehicle (EV) giants, XPeng (XPEV) and Nio (NIO), both posted solid delivery numbers for June 2025, but one pulled ahead. XPEV delivered 34,611 vehicles in June, marking a 224% year-over-year surge, while Nio made 24,925 vehicle deliveries, up 17.5% year-over-year.
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Importantly, it was XPeng’s eighth straight month of topping 30,000 deliveries, and it also set a new quarterly record with 103,181 units shipped in Q2. Further, XPEV has already surpassed its total 2024 deliveries.
The growth is being fueled by robust demand for its G7 SUV, rapid global expansion into over 40 countries, and strong interest in its in-house autonomous driving tech.
At the same time, Nio’s Q2 total hit 72,056 units, a 25.6% increase from the same period last year. Nio benefits from its multi-brand strategy, with deliveries divided across its premium Nio line, family-focused Onvo, and compact Firefly models. But while Nio’s growth is steady, it’s not as significant as XPeng’s.
Rival Li Auto Sees Decline
Simultaneously, Li Auto (LI) had a challenging month as it delivered 36,279 vehicles in June, a 24.1% drop year-over-year. The fall was partly due to temporary disruptions from a sales system upgrade.
For the full second quarter, Li Auto delivered 111,074 vehicles, marking a 2.4% increase from Q2 2024. The company is looking to launch more new models, with the Li i8 SUV coming in July and the Li i6 following in September. The new product launches and its strong brand name are expected to help push deliveries higher in the near term.
Which Is the Best EV Stock?
Using TipRanks’ Stock Comparison Tool, let us take a look at Wall Street’s ratings for the three EV stocks mentioned above. Analysts are cautiously optimistic with a “Moderate Buy” consensus rating on Li Auto and XPEV stocks. The average price target for these stocks indicates a possible upside of 24.1% and 35%, respectively, from current levels.
