China EV sales: BYD sets new May record while NIO slips ahead of ET5 Touring launch

Published

2 years ago

June 1, 2023

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Recovering demand in China’s booming EV market led to all major EV builders seeing a rise in sales over the last month. Although NIO was the exception, the EV startup began delivering its second-generation ES6 and is launching a new midsize electric tourer this month.

China’s EV sales rise in May 2023

Last month, the market leader BYD led the rising momentum, with battery electric passenger vehicle (BEV) sales rising by 124% YOY to 119,603 in May, according to data from CnEVPost.

BYD typically reports “new energy vehicle” or NEV sales, which include EVs and PHEVs. The company sold 240,220 NEVs in May, breaking its previous monthly record set in December of 235,200. The BYD Dolphin saw sales rise 377% YOY to 30,679 on higher demand.

XPeng, another leading EV maker in China, delivered 7,506 electric models in May, up 8% from April and 7% from its March sales numbers.

Several EV makers, including BYD, have stopped offering discounts on their models after Tesla’s price cuts sparked a wave of markdowns across China last year. Many buyers holding out for lower prices are now stepping into dealerships realizing the promotions may soon end, according to South China Morning Post.

Although Tesla doesn’t provide a monthly breakdown of sales in China, the China Passenger Car Association estimates the EV maker’s Shanghai gigafactory delivered 75,842 Model 3 and Model Y’s in May.

What happened with NIO

NIO was China’s only major EV maker to see monthly sales decline. The company delivered a total of 6,155 vehicles in May 2023, down nearly 8% from April.

Although NIO’s sales slipped from last month, year-to-date deliveries are up 15.8% to 43,854. More importantly, NIO launched what’s most likely its most important model yet in the new ES6 electric SUV.

The ES6 has been NIO’s top seller since launching, but with NIO focusing on NT 2.0 platform models, the model was due for an upgrade.

NIO launched the second-gen ES6 last week, starting at 368,000 yuan ($52,100) on May 24, with deliveries beginning the next day. According to information from the Chinese consumer behavior research agency, CarFans, the ES6 gathered nearly 30,000 pre-orders in the first three days (6,600 confirmed reservations).

nio-et5-orion — NIO ET5 Touring electric crossover (Source: Autocar)

The EV maker is also launching a new NT 2.0 vehicle, the ET5 Touring. The new electric crossover is expected to take on the Tesla Model 3, Porsche Taycan, and upcoming BMW i5.

According to filings with the China copyright authority, the ET5 crossover is 4,790 mm long, 1,960 mm wide, and 1,499 mm tall.

NIO says it also added 10 NIO centers and spaces, 11 NIO service and delivery centers, and 159 charging and battery swap stations this past month as it works to expand its brand beyond China.

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Environment

China overhauls EV charging: 100,000 ultra-fast public stations by 2027

Published

4 hours ago

July 9, 2025

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China overhauls EV charging: 100,000 ultra-fast public stations by 2027

China just laid out a plan to roll out over 100,000 ultra-fast EV charging stations by 2027 – and they’ll all be open to the public.

The National Development and Reform Commission’s (NDRC) joint notice, issued on Monday, asks local authorities to put together construction plans for highway service areas and prioritize the ones that see 40% or more usage during holiday travel rushes.

The NDRC notes that China’s ultra-fast EV charging infrastructure needs upgrading as more 800V EVs hit the road. Those high-voltage platforms can handle super-fast charging in as little as 10 to 30 minutes, but only if the charging hardware is up to speed.

China had 31.4 million EVs on the road at the end of 2024 – nearly 9% of the country’s total vehicle fleet. But charging access is still catching up. As of May 2025, there were 14.4 million charging points, or roughly 1 for every 2.2 EVs.

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To keep the grid running smoothly, China wants new chargers to be smart, with dynamic pricing to incentivize off-peak charging and solar and storage to power the charging stations.

To make the business side work, the government is pushing for 10-year leases for charging station operators, and it’s backing the buildout with local government bonds.

The NDRC emphasized that the DC fast chargers built will be open to the public. This is a big deal because a lot of fast chargers in China aren’t. For example, BYD’s new megawatt chargers aren’t open to third-party vehicles.

As of September 2024, China had expanded its charging infrastructure to 11.4 million EV chargers, but only 3.3 million were public.

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Environment

Two charged in $650 million global crypto scam that promised 300% returns

Published

6 hours ago

July 8, 2025

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Two charged in 0 million global crypto scam that promised 300% returns

A U.S. Justice Department logo or seal showing Justice Department headquarters, known as “Main Justice,” is seen behind the podium in the Department’s headquarters briefing room before a news conference with the Attorney General in Washington, January 24, 2023.

Kevin Lamarque | Reuters

Federal prosecutors have charged two men in connection with a sprawling cryptocurrency investment scheme that defrauded victims out of more than $650 million.

The indictment, unsealed in the District of Puerto Rico, accuses Michael Shannon Sims, 48, of Georgia and Florida, and Juan Carlos Reynoso, 57, of New Jersey and Florida, of operating and promoting OmegaPro, an international crypto multi-level marketing scheme that promised investors 300% returns over 16 months through foreign exchange trading.

“This case exposes the ruthless reality of modern financial crime,” said the Internal Revenue Service’s Chief of Criminal Investigations Guy Ficco. “OmegaPro promised financial freedom but delivered financial ruin.”

From 2019 to 2023, Sims, Reynoso and their co-conspirators allegedly lured thousands of victims worldwide to purchase “investment packages” using cryptocurrency, falsely claiming the funds would be safely managed by elite forex traders, the Department of Justice said.

Prosecutors said the pair flaunted their wealth through social media and extravagant events — including projecting the OmegaPro logo onto the Burj Khalifa, Dubai’s tallest building — to convince investors the operation was legitimate.

A video posted to the company’s LinkedIn page shows guests in evening attire posing for photos and watching the spectacle in Dubai.

Tesla forced to refund $10,000 FSD payment and 0% interest on Cybertruck

Published

7 hours ago

July 8, 2025

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Tesla forced to refund ,000 FSD payment and 0% interest on Cybertruck

Tesla is starting to experience some consequences for misleading Full Self Driving customers – at least that’s the finding of one arbitration ruling that has Tesla refunding one customer $10,000 plus legal fees for failing to deliver on their promises. Find out more on today’s legally challenging episode of Quick Charge!

An arbitration “court” found that Tesla misled customers with its Full Self Driving product, and has now been forced to refund at least one person’s $10,000 payment (plus legal fees) for the not-quite autonomous driving software. France, too, is piling on claims of deceptive business practices – but there’s some good news for FSD fans! If you’re still willing to pay for it, Tesla will thrown in 0% financing on a brand new Cybertruck.

Check out the relevant links, below, to learn more.

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