A research report indicates that the inflection point for intelligent vehicle technology has arrived, presenting opportunities for independent technological output. Intelligent capabilities are set to become a critical factor in automaker competition. With the accelerated deployment of city-level advanced driver-assistance systems (ADAS) by independent new energy vehicle makers, it is judged that intelligent driving is gradually reaching three key turning points: technology, user acceptance, and business models. The outlook is positive for high-quality independent automakers with relatively advanced intelligent layouts and upward product and brand cycles.

The key new energy vehicle delivery figures for May 2026 have been released. According to company disclosures: Leapmotor delivered 81,569 units, a year-on-year increase of 81.0% and a month-on-month increase of 14.3%; Li Auto Inc. delivered 33,350 units, a year-on-year decrease of 18.4% and a month-on-month decrease of 2.2%; NIO Inc. delivered 37,705 units, a year-on-year increase of 62.3% and a month-on-month increase of 28.4%; ZEEKR delivered 34,377 units, a year-on-year increase of 81.8% and a month-on-month increase of 8.1%; XPeng Inc. delivered 32,158 units, a year-on-year decrease of 4.1% and a month-on-month increase of 3.7%; Xiaomi delivered over 30,000 units.

Overall May Sales Growth

The combined deliveries of five key new energy vehicle makers (excluding Xiaomi and Aion) reached 219,159 units in May, representing a year-on-year increase of 35.6% and a month-on-month increase of 10.9%. Among them, Leapmotor, ZEEKR, and NIO Inc. showed excellent performance both year-on-year and month-on-month. The overall growth in May's new energy vehicle sales is attributed to the recent concentration of auto shows, the launch and batch delivery of numerous new models, and a richer product supply. The industry has moved past the traditional slow season of Q1, with demand steadily recovering.

Widespread Sales Increases and Market Leaders

Leapmotor maintained its leading position. According to company disclosure, it delivered 81,569 units in May, up 81.0% year-on-year and 14.3% month-on-month. Among its main models in April, the A10 accounted for 25.1% of monthly deliveries with 14,372 units, and the C10 accounted for 18.8% with 10,728 units. Regarding new vehicles, the interior of its first MPV, the D99, was unveiled at the Greater Bay Area Auto Show on May 29th. The Leapmotor D99 integrates a 1.46-meter ultra-large transparent area with a physical opening function, creating a new panoramic sunroof experience for MPVs.

XPeng Inc. disclosed deliveries of 32,158 units in May, down 4.1% year-on-year but up 3.7% month-on-month. Among its main models in April, the MONA M03 accounted for 54.4% of monthly deliveries with 13,595 units, and the P7+ accounted for 14.9% with 3,718 units. On May 20th, its new tech flagship, the GX, officially launched and began deliveries, securing 24,863 firm orders within 12 hours, with the Ultra flagship version accounting for over 80% of orders. In intelligent driving, the L4-level Robotaxi based on the XPeng GX officially rolled off the production line in Guangzhou. Equipped with four self-developed Turing AI chips, it offers 3000 TOPS of local effective computing power with a system response latency below 80 milliseconds. It is currently undergoing limited public road L4 testing in Guangzhou and is planned to start demonstration operations in the city in Q3.

NIO Inc. disclosed deliveries of 37,705 units in May, up 62.3% year-on-year and 28.4% month-on-month. This included 12,029 units for its Ledao brand and 5,663 units for its Firefly brand. Among its main NIO brand models in April, the ES8 accounted for 68.6% of brand deliveries with 13,000 units, and the ET5T accounted for 12.7% with 2,400 units. May was a period of intensive new product launches for the company. The NIO ES9 officially launched and began deliveries on May 27th; the Ledao L80 officially launched and began deliveries on May 15th; the 2026 Ledao L90 began deliveries on May 9th; and the new Ledao L60 is set to officially launch on June 11th. In intelligent driving, the new version of NIO's World Model (NWM) will be fully pushed to Banyan, Cedar, and Cedar S users in June.

Li Auto Inc. disclosed deliveries of 33,350 units in May, down 18.4% year-on-year and 2.2% month-on-month. Among its main models in April, the i6 accounted for 61.7% of monthly deliveries with 21,000 units, and the L6 accounted for 16.3% with 5,600 units. In May, the new Li Auto L9 was officially released and began deliveries. The L9 Livis secured over 10,000 firm orders within two weeks of sales opening. The company expects to maintain over 20% market share in the new energy SUV market priced above 500,000 yuan. As of May 31, 2026, Li Auto had 498 retail centers nationwide covering 160 cities, and 543 service and authorized service centers covering 222 cities. The company had 4,088 supercharging stations in operation nationwide with 22,563 charging piles.

ZEEKR disclosed deliveries of 34,377 units in May, up 81.8% year-on-year and 8.1% month-on-month. Among its main models in April, the ZEEKR 9X accounted for 41.2% of monthly deliveries with 9,315 units, and the ZEEKR 007 accounted for 18.0% with 4,078 units. Regarding overseas expansion, the ZEEKR 9X is planned for official export in Q3 of this year. The ZEEKR 7X has achieved cumulative global deliveries of 160,000 units.

Xiaomi disclosed deliveries of over 30,000 units in May. Regarding new vehicles, the YU7 Standard Edition and YU7 GT began deliveries in May, with the YU7 GT starting at 389,900 yuan. In intelligent driving, the first-generation Xiaomi SU7 added voice-controlled vehicle functions via an OTA update, allowing users to control lateral and longitudinal vehicle movement through voice commands, more conveniently meeting personalized driving needs such as lane changing, speed adjustment, and distance adjustment.

Accelerating Adoption of Intelligent Driving Technology

The era of making intelligent driving accessible is beginning. Automakers represented by XPeng and the Huawei ecosystem have been continuously iterating and promoting intelligent driving since 2025. All manufacturers are actively advancing the popularization and promotion of intelligent driving, marking the arrival of the era where it becomes a standard feature. Looking ahead to 2026, advancements in intelligent driving technology are expected to lower hardware barriers, enabling its application in the mainstream market under 200,000 yuan. Led by XPeng and BYD Company Limited, automakers are expected to gain further differentiated advantages over joint venture brands through affordable intelligent features in 2026, leading to increased market share.

Key Risks to Consider

Potential risks include new model sales falling short of expectations, slower-than-expected progress in automakers' new model launches, and delays in the implementation of intelligent driving technologies.