Leapmotor, XPeng and Xiaomi have become the only emerging Chinese electric-vehicle brands to finish their 2025 sales targets ahead of schedule, based on delivery data for November.

Leapmotor

Leapmotor reached 107.2% of its delivery target on November 15 after cumulative 2025 deliveries rose to 536,132 units, up 113.4% year-on-year. November deliveries of 70,327 units marked the company’s ninth consecutive month of growth since March.

Source: Leapmotor

The company’s CEO said Leapmotor will pursue a 2026 objective of 1 million sales as it extends its position in China’s mainstream EV segment.

XPeng

XPeng completed 112% of its 350,000-unit annual target after reaching 391,900 cumulative deliveries for the year. The company delivered 36,728 vehicles in November, a 19% increase from a year earlier but its first sequential decline in six months.

Source: XPeng

XPeng set a fourth-quarter delivery goal of 125,000 to 132,000 units and reported 78,741 units in the first two months of the period.

Its chairman said competition is accelerating and projected more uncertainty in 2026 as domestic manufacturers compress product development timelines.

Xiaomi

Xiaomi exceeded its full-year target with 350,000 cumulative deliveries through November. The brand recorded more than 40,000 deliveries for the third straight month and reached its 500,000th cumulative delivery in 602 days.

Source: Xiaomi

Xiaomi expanded its retail presence by adding 17 stores in November, bringing its network to 441 locations in 131 cities. The brand plans to add another 36 stores in December and expects to finish the year near 120% of its original target if production output remains stable.

Misses of 2025

Among many other emerging NEV brands, NIO and Li Auto are two of the biggest disappointments of 2025 as they will miss their annual targets by a significant margin.

Other notable brands that will fall short despite having one more month left on the calendar are IM Motor, Voyah, Deepal, Zeekr, AVATR, Denza, and Huawei-backed HIMA brands.

Source: NIO

NIO delivered 36,275 vehicles in November across its NIO, ONVO and Firefly sub-brands, for a total of 277,893 deliveries so far. All three brands recorded year-on-year increases, though total deliveries declined month-on-month.

NIO group has so far achieved 63.2% of its annual target of 440,000 units. NIO also lowered its Q4 guidance from 150,000 units to 120,000-125,000 units.

Source: Li Auto

Li Auto also missed their mark by a significant margin, having only delivered 51.7% or 362,097 units of its 700,000 sales target. November volume increased slightly from October to 33,181 units but fell year-on-year.

The company announced its fourth-quarter target of 100,000 to 110,000 units and outlined longer-term plans to recapture its leading market share of range-extended EVs in 2026.