Xpeng dethroned Li Auto as China’s largest electrified vehicle startup in January, with sales surging 268 percent from a year earlier to 30,350 on demand for its two newest models.

The Mona M03, a compact full electric sedan which debuted in Xpeng’s China showrooms on Aug. 27, generated sales of more than 15,000 last month, the company said.

Deliveries of the P7+, a midsize electric sedan, topped 10,000 last month. It went on sale Nov. 7.

Xpeng’s China sales have now topped 30,000 three straight months.

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Li Auto, the top seller among EV startups in December, saw its January deliveries dip 4 percent year over year to 29,927. The decline reflects the timing of the Lunar New Year holiday, which began Jan. 28. Last year, it started Feb. 10.

Despite fewer working days compared with the same month last year, two other major Chinese EV startups ― Leapmotor and Nio ― racked up impressive sales growth in January.

Leapmotor’s deliveries soared 105 percent from a year earlier to 25,180 last month while Nio sales jumped 38 percent to 13,863.

December sales totaled 58,513 at Li Auto, 42,517 at Leapmotor, 36,695 at Xpeng and 31,138 at Nio.

In 2024, the four largest EV startups were Li Auto, with sales of 500,508; Leapmotor, with 293,724 deliveries; Nio, with sales of 221,970; and Xpeng, with 190,068 deliveries.

Li Auto posted a profit for the first time in the first quarter of 2023 and Leapmotor became profitable in the fourth quarter of 2024.

Xpeng and Nio have yet to break even.