Leapmotor and XPeng Lead China's EV Charge with Triple-Digit Sales Surges

The Chinese electric vehicle (EV) market continues to defy expectations, with Leapmotor and XPeng delivering staggering sales growth in April 2025. Both companies posted year-over-year increases exceeding 170%, a remarkable performance that underscores their dominance in a sector where rivals like Xiaomi and Tesla are struggling to keep pace.

Leapmotor, a relative newcomer to the premium EV space, delivered 41,039 vehicles in April, a 173.5% jump from the same month in 2024. This marks the fastest sales expansion in the company’s history, signaling aggressive market penetration and strong demand for its vehicles. Meanwhile, XPeng reported 35,045 deliveries, a 273% surge year-over-year, making April its second-highest monthly sales volume ever. Combined with strong first-quarter performance, XPeng’s first-four-month deliveries totaled 129,053 units, a 313% increase that highlights sustained momentum.

The Leapmotor Playbook: Speed and Scale

Leapmotor’s growth is rooted in its ability to scale production swiftly while targeting mid-range EV buyers. Unlike Tesla, which has faced criticism for high prices and distribution challenges in China, Leapmotor has leaned into affordability and localized features. The company’s 41,039 April deliveries represent a market-share grab that analysts say could pressure Tesla’s Model 3 and Model Y, which saw flat sales growth in the same period.

XPeng’s Momentum: From Models to Monetization

XPeng’s 273% sales surge is fueled by two star models: the XPENG MONA M03, which has now delivered over 100,000 units, and the XPENG P7+, which hit 50,000 units in just five months after its launch. The P7+’s rapid adoption suggests XPeng’s design and tech—like its XNGP autonomous driving system—are resonating with Chinese buyers.

But XPeng’s innovation extends beyond hardware. In April, it launched an ADAS Insurance Service priced at RMB 239 annually, addressing liability concerns tied to its advanced driver-assistance systems. This move could reduce customer hesitation and lock in long-term revenue streams, a critical differentiator in a market crowded with EV startups.

Outperforming the Pack

While Xiaomi’s EV division has yet to report meaningful sales, and Tesla’s China deliveries grew just 10.5% year-over-year in April, Leapmotor and XPeng’s triple-digit growth stands out. Analysts attribute this to their focus on localized demand: both prioritize features like ultra-fast charging, extended battery warranties, and seamless integration with China’s digital ecosystems.

The broader EV market in China continues to boom, with industry-wide sales up 45% year-over-year in the first quarter of 2025. This growth is driven by government subsidies, improved charging infrastructure, and a cultural shift toward eco-friendly transportation.

Investment Takeaways

Leapmotor and XPeng’s performance offers compelling investment opportunities—but risks remain. Key considerations:

1. Valuation vs. Growth: Leapmotor’s stock trades at a premium, but its 173.5% sales growth could justify the price. XPeng’s 313% year-to-date growth may offer better value, especially with its diversified revenue streams.
2. Competitor Pressure: Tesla and domestic rivals like NIO are sharpening their offerings. XPeng’s ADAS Insurance could be a defensive advantage, but execution is key.
3. Supply Chain Risks: Both companies rely on lithium and semiconductor suppliers, which remain volatile.

Conclusion: A New Era for China’s EV Titans

Leapmotor and XPeng are rewriting the rules of China’s EV market. With sales growth outpacing even Tesla and domestic competitors, they’ve positioned themselves as leaders in a sector critical to China’s green energy future.

The data is clear: XPeng’s 273% sales surge and Leapmotor’s record-breaking 173.5% expansion aren’t just anomalies—they’re indicators of a structural shift. These companies are not only capturing market share but also setting new benchmarks for innovation and customer engagement.

For investors, the question isn’t whether to bet on China’s EV boom—it’s which companies will sustain this growth. Leapmotor’s speed and XPeng’s holistic strategy (from hardware to services) make them top contenders. As China’s EV market matures, these two may just redefine what it means to lead in the automotive world.