Lei Kang

Although Xpeng has not directly adjusted the prices of its models, the discounts to some extent amount to a price cut in disguise, local media said.

Despite the steep price cuts, industry watchers remain pessimistic about the performance of the Mercedes-Benz EQ series in China.

Every RMB 100,000 increase in the price of lithium carbonate will have a 2 percentage point impact on Nio's gross margin, the company's CEO previously said.

In Hangzhou, Nio's battery swap stations number 39, covering all 13 local districts.

BYD appears to be shipping test vehicles for the first model of its Yangwang brand in preparation for winter testing.

BYD is building a new sedan for each of its Dynasty series and Ocean series, according to local media.

Nio vehicles had 9,806 insurance registrations and 10,059 deliveries in October.

BYD's 1,557 EV patent applications in China are twice as many as Geely's 870 applications.

Industrial Securities believes that Xpeng's short-term model changeover and sales pressure will not affect the company's long-term value.

The project is another major investment by BMW Brilliance after the total investment of RMB 15 billion in the Lydia plant.