China’s Leapmotor and Huawei-backed Aito report record high deliveries in May as competition heats up
Stellantis-backed Leapmotor delivered a record 45,067 vehicles in May, reflecting year-on-year growth of 148%.
Cfoto | Future Publishing | Getty Images
Chinese electric carmakers Leapmotor and Aito reported record high deliveries in May, while other startups struggle to catch up as the price war intensifies.
Stellantis-backed Leapmotor delivered a record 45,067 vehicles in May, reflecting year-on-year growth of 148%. On May 15, the automaker launched an updated version of its C10 model, a mid-sized SUV, that retailed from 122,800 yuan ($17,045). Leapmotor said over 13,000 units of the C10 were delivered in May.
And on Sunday, Seres-backed Aito announced on social media that it had delivered 44,454 vehicles, setting a new record. The automaker, which uses Huawei tech, on May 30 officially launched the Maextro S800, an ultra-luxury sedan, with a starting price of 708,000 yuan.
Industry giant BYD maintained its stronghold in the industry, with 376,930 cars sold in May. Total car sales in May rose by 14.1% increase year on year, based on CNBC’s calculations of publicly available figures.
The automaker on May 23 slashed prices on 22 models, bringing the price of its Seagull hatchback down 20% to 55,800 yuan, causing Chinese automakers’ shares to slide.
The EV juggernaut has recently been scrutinized over claims that it had pressured Jinan Qiansheng, one of BYD’s dealers in the eastern province of Shandong, over cash flow. BYD refuted claims in a statement to Chinese media.
The intensifying price war has also sparked fears of a next “Evergrande” — China’s former real estate giant, which defaulted on its debt in 2021.
Xpeng May deliveries dipped to 33,525 vehicles from 35,045 vehicles the previous month. But the company reported a year-on-year growth of 230% and maintained its streak of delivering over 30,000 vehicles for the seventh consecutive month.
The automaker on May 28 officially launched the Mona M03 Max and Plus models, retailing from 129,800 yuan and 119,800 yuan, respectively.
Xiaomi delivered more than 28,000 vehicles in May, mirroring its performance last month.
The smartphone company on May 22 teased a new model of YU7 luxury SUV, which is set to be officially launched in July.
Other startups, however, experienced modest growth in deliveries.
Li Auto delivered 40,856 vehicles in May, representing a year-over-year increase of 16.7%, while Geely-owned Zeekr delivered 18,908 vehicles, indicating a 1.6% year-on-year growth, based on CNBC calculations of publicly available data. That’s despite Zeekr’s attempts to differentiate itself from the competition with its announcement of free driver-assistance technology in March.
Nio‘s May deliveries fell from the previous month, with a total of 23,231 vehicles delivered, reflecting 13.1% year-on-year growth. Onvo, Nio’s family-oriented smart electric vehicle brand, made up 6,281 of total deliveries. That makes May Onvo’s best-performing month so far this year.
Global expansion
Chinese automakers are looking to diversify as competition intensifies. But tariffs imposed by the European Union and the U.S. on Chinese electric vehicles may impede efforts to expand into the West.
Instead, companies may be looking to emerging markets such as those in Africa, Hong Kong-based South China Morning Post reported last week.
BYD on April 24 announced its official entry into Benin, in collaboration with CFAO Mobility.
George Kurtz, chief executive officer of Crowdstrike Inc., speaks during the Montgomery Summit in Santa Monica, California, U.S., on Wednesday, March 4, 2020.
Patrick T. Fallon | Bloomberg | Getty Images
CrowdStrike shares fell 7% in extended trading on Tuesday after the security software maker issued a weaker-than-expected revenue forecast.
Here’s how the company did against LSEG consensus:
- Earnings per share: 73 cents, adjusted vs. 65 cents expected
- Revenue: $1.10 billion vs. $1.10 billion expected
Revenue increased by nearly 20% in the fiscal first quarter, which ended on April 30, according to a statement. The company registered a net loss of $110.2 million, or 44 cents per share, compared with net income of $42.8 million, or 17 cents per share, in the same quarter last year.
Costs rose in sales and marketing as well as in research and development and administration, partly because of a broad software outage last summer.
For the current quarter, CrowdStrike called for 82 cents to 84 cents in adjusted earnings per share on $1.14 billion to $1.15 million in revenue. Analysts polled by LSEG were expecting 81 cents per share and $1.16 billion in revenue.
CrowdStrike bumped up its guidance for full-year earnings but maintained its expectation for revenue. The company now sees $3.44 to $3.56 in adjusted earnings per share, with $4.74 billion to $4.81 billion in revenue. The LSEG consensus was $3.43 per share and $4.77 billion in revenue. The earnings guidance provided in March was $3.33 to $3.45 in adjusted earnings per share.
Also on Tuesday, CrowdStrike said it had earmarked $1 billion for share buybacks.
“Today’s announced share repurchase reflects our confidence in CrowdStrike’s future and unwavering mission of stopping breaches,” CEO George Kurtz said in the statement.
As of Tuesday’s close, the stock was up 43% so far in 2025, while the S&P 500 index had gained less than 2%.
Executives will discuss the results on a conference call with analysts starting at 5 p.m. ET.
WATCH: Trade Tracker: Malcolm Ethridge buys more CrowdStrike, Palo Alto Networks, Spotify and Oracle
An attendee wearing a cow costume while playing Mario Kart World by Nintendo Switch 2 during the Nintendo Switch 2 Experience at the Excel London international exhibition and convention centre in London on April 11, 2025.
Isabel Infantes | Reuters
Nvidia CEO Jensen Huang on Tuesday talked up the capabilities of Nintendo‘s new Switch 2, days before the long-awaited console is set to hit store shelves.
In a video posted by Nintendo, Huang called the chip inside the Switch 2 “unlike anything we’ve built before.”
“It brings together three breakthroughs: The most advanced graphics ever in a mobile device, full hardware ray tracing, high dynamic range for brighter highlights and deeper shadows, and an architecture that supports backward compatibility,” Huang said.
He added that the console has dedicated artificial intelligence processors to “sharpen, animate and enhance gameplay in real time.”
Huang’s comments come as Nintendo prepares to release the Switch 2 on Thursday. The Switch 2 is Nintendo’s first new console in eight years, and it is expected to be a bigger and faster version of its predecessor. The device costs $449.99.
Huang also paid tribute to the vision of former Nintendo CEO Satoru Iwata, who died before the original Switch was released.
“Switch 2 is more than a new console,” Huang said. “It’s a new chapter worthy of Iwata Son’s vision.”
WATCH: Nintendo expects to sell 15 million units of the Switch 2
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