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Reading: Smaller Players Outpace BYD in China’s New-Energy Vehicle Market
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BYD China EV market 2025
PhotoNews Pakistan > Tech > Smaller Players Outpace BYD in China’s New-Energy Vehicle Market
Tech

Smaller Players Outpace BYD in China’s New-Energy Vehicle Market

Web Desk
By Web Desk Published September 1, 2025 3 Min Read
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China’s BYD Auto Industry Company. Photo: Pakistan Today
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On September 1, 2025, smaller Chinese automakers are outpacing BYD in the new-energy vehicle (NEV) market by targeting demand for affordable electric and hybrid cars. Despite BYD’s dominance, with 4.27 million NEV sales in 2024, competitors like Leapmotor and Xiaomi are exceeding sales goals, as reported by Reuters.

BYD, China’s leading NEV manufacturer, faced a sales dip in July 2025, delivering 341,030 units, down from 377,628 in June. The company holds a 28.5% market share but struggles with intense competition and a price war, per Bloomberg. BYD’s focus on premium models contrasts with that of smaller brands offering cheaper alternatives, which impacts its lead.

Smaller players like Leapmotor, Xiaomi, and Xpeng are thriving by offering budget-friendly NEVs. Leapmotor sold 50,129 units in July, a record high, while Xpeng delivered 36,717. Xiaomi, a newcomer, achieved 23,728 sales in February, securing a 3.4% market share. These brands target cost-conscious consumers, capitalising on China’s demand for affordable EVs.

As BYD weathers a rough patch atop China’s market for new-energy vehicles, other, smaller players are surpassing their sales goals by leaning into demand for cheaper cars https://t.co/cbIZ9fBlJa

— Bloomberg (@business) September 1, 2025

Demand for Affordable NEVs

China’s NEV market, including battery electric vehicles (BEVs) and plug-in hybrids (PHEVs), grew 38% in April 2025. Consumers favour cheaper models due to economic pressures and reduced subsidies. BYD’s Seagull, priced under $10,000, remains popular; however, competitors like Leapmotor offer similar low-cost options, which drives sales.

NEV Policy 2025-30: Transforming Pakistan’s Transport to Reduce Emissions

The NEV market’s growth, with 9.4 million sales in 2024, reflects China’s lead in EV adoption, per The New York Times (web:8). Smaller brands leverage vertical integration and government trade-in schemes to compete, per Euronews (web:0). However, BYD’s 1.76 million BEV sales in 2024 keep it ahead of Tesla’s 1.79 million, though its total NEV lead (4.27 million) faces pressure.

The rise of smaller players signals a shift in the competitive landscape. For instance, Leapmotor and Xiaomi’s growth challenges BYD’s dominance. This could prompt BYD to adjust its pricing or expand its affordable models. Additionally, China’s export surge, with $2.7 billion in cars to the UAE, strengthens its global influence.

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