Major EV companies in China have announced their delivery data for June and sales performance for the first half of the year and it's not great news.
None had achieved half of their whole-year sales target by the halfway mark. Only Li Auto and Aion, the EV marque of Guangzhou Automobile Corporation (GAC), made 40 percent of their targets. Most brands have fallen a long way short, around 20 percent of expectations.
The majority of these brands will not meet their annual KPI. Li Auto leads the pack at 46.4 percent with GAC Aion at 41.9 percent. Avatr ranks last with a completion rate of 10.8 percent.
The performance of these EV companies in the first half of the year reflects the challenges they have set for themselves in their ambitious targets.
The data also shows a widening gap between the leading brands, principally Li Auto, and the stragglers like NIO, XPeng and Huawei's partner AITO. The second half of the year will be a very rough ride for some.
