Lei Kang

"XPeng delivered 1Q24 earnings upside driven by earlier-than-expected recognition of high-margin VW tech and service revenue; 2Q24 volume outlook also came in better than feared," Deutsche Bank said.

Huawei's automotive business has already turned profitable as sales explode, especially for the Aito brand, an executive said.

"Li Auto delivered mostly in-line 1Q24 earnings results and 2Q24's volume outlook bracketed our forecast but pricing pressure appears much worse than anticipated," said Deutsche Bank.

Xiaomi CEO Lei Jun tried to peddle a concept for a unified in-vehicle eco-system in a meeting that included Nio' William Li and Onvo president Ai Tiecheng.

A total of 243 stations provide PSP services that enable vehicles to autonomously drive from the main road to a target service area and autocomplete a battery swap when NOP+ is turned on.

Chinese customers who order a Tesla vehicle before June 20 will have the chance to get a 5,000-km free supercharging entitlement, but only 140 spots are available.

China FAW will join the Nio-led battery swap alliance, becoming the seventh automaker to do so, according to local media.

Li Auto is reportedly undergoing massive layoffs that could involve more than 5,600 people, as sales fall short of expectations, according to local media.

China's retail penetration of NEVs was 43.11 percent in May 1-12, and 38.87 percent year-to-date.

Baidu's self-driving ride hailing platform Apollo Go is close to break-even and aims to be profitable by 2025.