EV Roundup: Q1 Deliveries of TSLA, RIVN, LI, XPEV & NIO in Focus

Major U.S. EV companies like Tesla TSLA and Rivian Automotive RIVN, and China-based NIO Inc. NIO, Li Auto LI and XPeng Inc. XPEV released their delivery results for the first quarter of 2025. Here’s a rundown of the delivery numbers.

Tesla delivered 336,681 cars (323,800 Model 3/Y and 12,881 other models) worldwide in the first quarter, missing analysts’ expectations of 378,000 units. This marked the lowest quarterly numbers in more than two years. Sales were down from 495,570 units in the fourth quarter of 2024 and 386,810 in the first quarter of last year. An obvious reason behind Tesla’s soft first-quarter 2025 deliveries was the fact that it had to retool its factories to produce the new version of its Model Y SUV. The anti-Musk sentiment is also real, which is hurting the company’s sales.

Tesla produced 362,615 vehicles (345,454 Model 3/Y, and 17,161 other models) in the three months ended March. While the EV business is struggling, Tesla’s energy generation and storage business is thriving. In the first quarter of 2025, Tesla deployed 10.4 GWh of energy storage — a staggering 156% year-over-year increase.

Tesla stock currently carries a Zacks Rank #3 (Hold).

Rivian manufactured 14,611 vehicles in the first quarter of 2025 at its Normal, IL, plant, up from 13,980 units produced in the corresponding quarter of 2024. However, its deliveries dropped to 8,640 vehicles from 13,588 in the same period last year. The reported production and delivery figures align with Rivian's forecast of producing about 14,000 vehicles and delivering around 8,000.

Rivian reaffirmed its 2025 delivery target of 46,000 to 51,000 vehicles, suggesting flat or declining deliveries for a second consecutive year, as demand for its premium R1 models appears to be stagnant. However, 2026 could mark a turning point with the launch of the R2, a compact crossover priced around $45,000, which is set to compete with top-selling models like the Toyota RAV4 and Tesla Model Y.

Rivian stock currently carries a Zacks Rank #4 (Sell).

NIO delivered 15,039 vehicles in March 2025, up 26.7% year over year. The deliveries comprised 10,219 vehicles from its premium smart EV brand NIO and 4,820 vehicles from its family-oriented smart EV brand ONVO. It delivered 42,094 units in the first quarter of 2025, which rose 40.1% year over year. As of March 31, 2025, NIO’s cumulative deliveries totaled 713,658 units. In late March 2025, the company commenced delivery of the NIO ET9, its smart electric executive flagship.

NIO's strong vehicle lineup, including ES6, ET5T, ES8, EC6, ES7, ET5, ET7, EP9, EVE, ET9 and EC7 models, are aiding the company’s deliveries growth. In December 2024, the company launched a flagship smart executive sedan, the NIO 89. The limited first edition of NIO 89 sold out within hours and there is a strong demand for its signature version.

NIO stock currently carries a Zacks Rank #4.

XPeng’s deliveries reached 33,205 units in March, surging 268% year over year and exceeding 30,000 units for the fifth consecutive month. In the first quarter of 2025, it delivered 94,008 smart EVs, which rose 331% from the corresponding quarter of the last year. Last month, XPeng revealed the 2025 versions of XPENG G6 and XPENG G9 with 5C AI batteries and Turing AI-powered smart driving features. XNGP's monthly active user penetration rate in urban driving reached 86% in March. The company also entered the Indonesian market to expand its global footprint.

XPeng is also ramping up efforts to expand globally as part of its “go-global 2.0 strategy.”  By the end of 2024, it was present in 30 countries and regions and aims to reach 60 by 2025. The company expects half of its sales to come from overseas within a decade.

XPEV stock currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Li Auto delivered 36,674 units in March 2025, representing a 26.5% year-over-year increase. It delivered 92,864 units in the first quarter of 2025, up 15.5% year over year. Li Auto’s cumulative deliveries totaled 1,226,736 units as of March 31, 2025. The new energy automaker had 500 retail stores in 150 cities, 502 servicing centers and Li Auto-authorized body and paint shops operating in 225 cities and 2,045 supercharging stations equipped with 11,038 charging stalls in China as of March 31, 2025. 

In February, Li Auto revealed the first images of its new all-electric SUV, Li i8. This will be its second all-electric model after Li Mega MPV.  Li Auto’s aggressive supercharging network expansion also bodes well. By the end of 2025, the company aims to build more than 1,200 supercharging stations along highways, covering 90% of national highways. 

Li Auto stock currently carries a Zacks Rank #3.

Price Performance

The following table shows the price movement of some of the major EV players over the last week and six-month period.

What’s Next in the Space?

Stay tuned for announcements of upcoming EV models and any important updates from the red-hot industry.

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This article originally published on Zacks Investment Research (zacks.com).

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