[Electric Vehicles] Leap Motor delivered 50,000 units in March, up 35% year-on-year; Li Auto increased by 12%; Xpeng dropped over 17%. A comprehensive look at March new energy vehicle manufacturers' performance (updating continuously)

Mainland China’s new-energy vehicle manufacturers have gradually released their March delivery or sales data for 2026, and their performance has generally risen significantly compared with February. Last month, Leapmotor’s deliveries increased by 35% year over year, while Li Auto also rose by 12%. However, XPeng’s deliveries fell by more than 17% year over year, and Xiaomi’s deliveries also declined.

One of the emerging leaders, Leapmotor （09863） In March, Leapmotor delivered 50,029 vehicles across its full lineup, up 35% year over year. The company said delivery volumes steadily broke through the 50,000-unit mark, demonstrating strong development resilience. In terms of products, the Leapmotor A10 was officially launched on March 26, and order demand has continued to stay hot. In addition, Leapmotor’s European Innovation Center officially opened in Munich, marking Leapmotor’s first overseas innovation center. At the same time, the globalizing strategy model B10 went into production line rollout at Leapmotor’s SKD factory in Myanmar.

In April, Leapmotor will appear at the Beijing Auto Show and bring the Lafa5 Ultra variant. In addition, the highly anticipated flagship model D19 will also hold its global launch and press event on April 16.

Xiaomi （01810） In March, electric vehicle deliveries exceeded 20,000 units, similar on a month-over-month basis; the same period last year saw deliveries of more than 29,000 units. Lei Jun, Chairman of Xiaomi Group, said that with the launch of the new-generation SU7 starting delivery on March 23, cumulative deliveries have already exceeded 7,000 units.

XPeng （09868） In March, XPeng delivered 27,415 new vehicles in total, up 80% from the previous month, but down 17.4% year over year. In the first quarter of this year, XPeng’s cumulative deliveries totaled 62,682 units.

XPeng said that on the 25th of last month it had announced a three-year strategy for Latin America and officially entered the Mexico market, marking an important milestone for its global expansion. Under this strategy, the company plans to launch pure electric and extended-range electric vehicle models in 2027 to lay the foundation for expanding its market footprint, and targets achieving a leading position locally in 2028.

Li Auto （02015） In March, Li Auto delivered 41,053 vehicles, up 55.4% month over month and up 11.9% year over year. With production bottlenecks resolved, deliveries of the Li Auto i6 surpassed 24,000 vehicles within the quarter. The all-new Li Auto L9 is expected to be officially launched in the second quarter of this year.

As of the end of March, Li Auto’s cumulative deliveries were 1,635,357 vehicles. In addition, Li Auto has 517 retail stores across 160 cities, and 552 service centers in 223 cities. Meanwhile, the company operates 4,057 supercharging stations in China, equipped with more than 20,000 charging piles.

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