Goldman Sachs
May 20, 2026
China New Energy Vehicle Weekly Chartbook
Weekly UpdateEquitiesCommoditiesConsumer Discretionary
China's New Energy Vehicle (NEV) market saw a weekly order rebound of +4% WoW in Week 20 2026, fueled by major new model launches from Nio, Li Auto, and Luxeed.
Key Takeaways
- 1.Weekly NEV orders rebounded to grow by +4% WoW and +11% YoY for Week 20 of 2026.
- 2.Growth was primarily driven by new model launches, notably from Nio and Li Auto which both saw WoW growth of +113%.
- 3.NEV dealer discounts are widening (+7.61% average) while internal combustion engine (ICE) discounts are narrowing (+19.50% average).
Table of Contents
- Weekly order summary
- Key events to watch
- Retail end-pricing
- Upstream battery pricing dynamics
- Disclosure Appendix
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Authors
Tina HouJenny Du
Securities
NIOLIBYDTesla1810.HKXPeng
Themes
New Model Cycle MomentumPricing Competition Differentiators
Regions
Asia PacificChina
