Chinese EV start-ups have emerged rapidly since 2015, driven by government policies. The top three EV start-ups in terms of total financing and sales volume are NIO, WM Motor and Xpeng. Many of their founders have successful backgrounds in internet entrepreneurship or senior leadership in major OEMs. The sales volumes of EV start-ups in 2019 show sharp contrast, with NIO, WM Motor and Xpeng ranking top three due to their premium after-sales service and good product value. However, Hozon's sales performance ranked at four, with the majority of its sales volume coming from B2B. Whether Chinese EV start-ups will reshape the automotive industry remains to be seen.
