# automotive strategy

China’s EV Upstarts Hit a February Cool Patch — Winners Lean on Networks and Incentives as Xpeng Stumbles

February deliveries among China’s electric vehicle newcomers cooled under a long Lunar New Year break and softer demand, producing divergent results. Leapmotor, Li Auto and NIO returned to roughly 20,000 monthly deliveries while Xpeng’s volumes halved, underscoring a market shift from volume to networks, software and international expansion.