Lei Kang

The Denza N7 will be available in single- and dual-motor versions, with an option for LiDARs, which are set on both sides of the front bumper.

Previous reports suggested that the new Xpeng new SUV would start at RMB 200,000-250,000 and is expected to be unveiled at this year's Shanghai auto show.

In terms of retail sales, China's NEV penetration rate was 31.6 percent in February, up nearly 10 percentage points from a year ago and up from 25.7 percent in January.

Ford is clearing out Mustang Mach-E inventory, and Chinese consumers have until April 30 to take advantage of the discount.

CATL's RMB 6.4 billion restructuring proposal was approved unanimously by lithium miner Sinuowei's creditors, according to local media.

WM Motor will have more than 100 dealership stores in China gradually return to regular service, the company said.

Authorities in Hubei province have joined forces with local automakers this month to offer subsidies for car purchases of up to RMB 90,000 yuan ($13,000) for some models.

China's new energy passenger vehicle penetration at retail in February was 32.1 percent, up 6.4 percentage points from 25.7 percent in January.

Overseas lithium prices are already at a 20 percent premium to Chinese prices, which is expected to provide support for lithium prices as the export window opens, analysts said.

The Toyota bZ3 is priced lower than the BYD Han EV in China, but higher than the BYD Destroyer 05.