Chinese electric vehicle (EV) makers XPeng (NYSE:XPEV), ZEEKR Intelligent Technology (NYSE:ZK), Li Auto (NASDAQ:LI), and NIO (NYSE:NIO) stocks dropped on Friday despite individual triumphs like XPeng’s record July deliveries and ZEEKR’s significant year-over-year growth.
ZEEKR, a subsidiary of Geely, announced on Friday that its combined Zeekr and Lynk & Co brands delivered 44,193 vehicles in July 2025, marking a 19.7% increase from the prior year. Specifically, the Zeekr brand contributed 16,977 deliveries, while Lynk & Co accounted for 27,216 units.
The company had previously unveiled its Super Hybrid Technologies on July 9, built on its new full-stack SEA-S platform. This innovative system features a 900V high-voltage architecture, tri-silicon carbide-powered e-motors, and a CATL Freevoy Super Hybrid Battery.
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Zeekr plans to integrate this technology into its forthcoming Zeekr 9X, which boasts a peak output of 1,030kW and an impressive 0 to 100 km/h acceleration in under 3.1 seconds.
Li Auto reported 30,731 vehicle deliveries in July 2025, bringing its cumulative deliveries to 1,368,541 units by the end of the month. The company also officially launched the Li i8, a six-seat battery-electric family SUV, on July 29, with customer deliveries anticipated to commence on August 20.
Li Auto’s expanding footprint includes 535 retail stores across 153 cities, 527 servicing centers, and authorized body and paint shops in 222 cities, complemented by 3,028 supercharging stations with 16,671 charging stalls throughout China.
NIO also released its July 2025 delivery figures on Friday, reporting a total of 21,017 vehicles. This total comprised 12,675 vehicles from its premium smart EV brand NIO, 5,976 from its family-oriented ONVO brand, and 2,366 from its small high-end EV brand FIREFLY.
Cumulative deliveries for NIO reached 806,731 vehicles by July 31, 2025. The company officially launched the ONVO L90, a smart flagship SUV, on July 31, with user deliveries expected to begin shortly.
XPeng, which reported its July 2025 delivery results on Thursday, achieved a new monthly record with 36,717 Smart EV deliveries, marking an astounding 229% year-over-year increase. This represents the ninth consecutive month of deliveries exceeding 30,000 units.
As of July 2025, XPeng’s cumulative deliveries surpassed 800,000 units, with 233,906 Smart EVs delivered from January to July 2025, a 270% year-over-year surge. The company is actively expanding its global presence, having launched the 2025 XPeng G6 and G9 versions in European markets in mid-July, alongside plans to introduce the XPeng P7+ in Europe.
The widespread stock market underperformance across the Chinese EV sector signals mounting investor apprehension, exacerbated by intensifying margin pressure stemming from fierce domestic price wars and considerable geopolitical headwinds.
Price Action: At last check Friday, NIO’s stock had dipped 2.26%, trading at $4.77 per share, while Li Auto saw a 3.83% drop premarket. XPeng, despite impressive growth, was down 1.7%, and ZEEKR’s stock fell by 1.02%.
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