Meanwhile, Adani Group is in early talks with BYD on a potential battery manufacturing partnership in India.
Shares of BYD fell nearly 1% in China trading Monday after the company reported a decline in vehicle deliveries for July, dropping to 341,030 units from 377,628 in June.
This marks BYD’s first monthly decline of 2025 and was largely flat compared to the same month last year, according to a CNBC report.
The company had cut prices on several hybrid and battery electric vehicles in May by around 30%, a move that prompted broader discounting in the industry. Policymakers in Beijing have since expressed concern over the intensifying EV price war.
Li Auto delivered 30,731 vehicles in July, down from 36,279 in June and representing a 39.7% year-over-year decrease.
Nio’s deliveries fell to 21,017, from 24,925 in June, a 2.7% year-on-year decline. Both companies launched new SUVs on July 31, with Li Auto’s Li i8 scheduled for deliveries starting Aug. 20 and Nio’s L90 six-seater already on the road.
Xpeng reported a slight month-over-month gain with 36,717 units, its ninth straight month above 30,000 units. Xiaomi delivered over 30,000 units, up from 25,000 in June.
Leapmotor posted a record 50,129 units in July, while Huawei-backed Aito delivered 40,753 vehicles out of the Harmony alliance’s total 47,752.
Zeekr’s July deliveries were largely flat at 16,977 units, mirroring its June performance.
Meanwhile, India’s Adani Group is holding preliminary discussions with BYD regarding a potential joint battery production venture in India, Bloomberg reported. The negotiations would see partnerships with BYD’s non-Chinese subsidiaries. The move is in line with Adani’s expansion into green energy, including battery storage and EV technology.
On Stocktwits, retail sentiment for BYD was ‘bearish’ early Monday amid ‘low’ message volume.
BYD’s Chinese stock has declined 15% so far in 2025, while its U.S.-listed shares have risen 28.6% over the same period.
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