Lei Kang

The proposal is based on Wang Chuanfu's confidence in China's NEV industry and the company's prospects, as well as his recognition of BYD's value to boost investor confidence, BYD said.

Luxeed launched its first model, the Luxeed S7, on November 28 as a direct competitor to the Tesla Model 3.

GAC Aion has entered the Cambodian automotive market in partnership with a local dealer, its second international market entry after Thailand.

In October, China's NEV penetration at retail stood at 37.8 percent, up 7.6 percentage points from 30.2 percent a year earlier.

The strategy of having a hybrid model as the third product is more of a practical move by Xiaomi to boost sales faster, local media said.

China's November wholesale sales of passenger NEVs are estimated at 940,000 units, up 29 percent year-on-year and up 6 percent from October, the CPCA said.

BYD's roll-on/roll-off car carrier Explorer 1 has completed its first 7-day sea trial in Yantai, Shandong province.

In the January-November period, Zeekr delivered 105,209 vehicles, up 73.6 percent year-on-year.

Aito's single-month delivery capacity in 2024 is expected to reach 30,000 vehicles, it said.

Earlier today, Leapmotor announced promotions available for December, including up to RMB 17,000 in cash discounts, RMB 5,000 in option funds.