Core Insights - Chinese electric vehicles (EVs) are gaining significant traction in the luxury segment, with the Maextro S800 outselling established models like Porsche's Panamera and BMW's 7 Series in China [1][2] Group 1: Sales Performance - The Maextro S800, co-developed by Huawei and JAC Group, recorded 2,145 deliveries in mainland China last month, surpassing the combined sales of the Panamera and 7 Series [1][3] - The S800 is now the top-selling car in the 700,000 yuan-plus price segment in mainland China [2] - Prior to the S800's launch, the luxury car segment in China was dominated by international brands [4] Group 2: Market Dynamics - The S800 debuted in late May and offers both pure electric and extended-range editions, marking a shift in the luxury car market previously dominated by petroleum-powered vehicles [4] - Chinese EV makers, including BYD and Leapmotor, have successfully captured the mass market, leading to a decline in market share for foreign brands like Volkswagen and General Motors [5] - Approximately 60% of new cars sold to mainland customers are now battery-powered or plug-in hybrid models, indicating a significant shift towards electric vehicles [5]

Huawei’s ultra-luxury Maextro S800 sedan is so popular in China nowadays, it’s outselling Porsche’s Panamera, Mercedes-Benz’s S-Class and all other vehicles with sticker prices of at least $100,000. https://t.co/1t1eIOJiXL📷: Huawei Technologies Co. https://t.co/tqdg4kMclG ...

Market Performance - Huawei's ultra-luxury Maextro S800 sedan is outselling Porsche AG's Panamera and Mercedes-Benz Group AG's S-Class in China [1] - Huawei's Maextro S800 sedan is outselling all other vehicles with sticker prices of at least $100,000 in China [1]

Group 1: Record Deliveries - Leapmotor achieved record deliveries of 45,067 vehicles in May, marking a year-on-year growth of 148% [1] - Aito also set a new record with 44,454 vehicles delivered in May [2] - BYD maintained its industry leadership with 376,930 cars sold in May, contributing to a total car sales increase of 14.1% year-on-year [2] Group 2: Price War Impact - The price war in the electric vehicle market has intensified, with BYD slashing prices on 22 models, including a 20% reduction on the Seagull hatchback to 55,800 yuan [3] - Concerns have arisen regarding the potential for a crisis similar to the Evergrande situation in the real estate sector due to the ongoing price competition [4] - Xpeng's deliveries decreased to 33,525 vehicles from 35,045 the previous month, although it reported a year-on-year growth of 230% [4] Group 3: New Model Launches - Leapmotor launched an updated version of its C10 model, a mid-sized SUV, with over 13,000 units delivered in May [1] - Aito launched the Maextro S800, an ultra-luxury sedan, with a starting price of 708,000 yuan [2] - Xiaomi introduced the Mona M03 Max and Plus models, retailing from 129,800 yuan and 119,800 yuan, respectively [5]