Lei Kang

Leapmotor began pre-sales of the updated C16 earlier this month, with a starting price of RMB 169,800 ($23,640).

Yangwang launched the U7 on March 27, with a starting price of RMB 628,000 ($87,370).

The penetration rate of NEVs in retail sales was 58.8 percent during the June 1-8 period, and 49.78 percent year-to-date.

CATL's market share in May increased by 3.44 percentage points compared to April, while BYD's share decreased by 3.86 percentage points.

In May, China's NEV sales reached 1,307,000 units, up 36.9 percent year-on-year, according to data from the CAAM.

Market development in Hong Kong and Macau will be handled by Leapmotor's marketing team in the Chinese mainland.

The 587 Ah high-capacity cell achieves an energy density of 434 Wh/L, a 10 percent improvement over the previous generation.

The Toyota bZ5 is the latest comeback by a joint venture automaker in China after the Nissan N7.

Shanghai's NEV ownership reached 1.51 million vehicles by the end of 2024, with pure electric vehicles accounting for 71 percent.

Li L6 -- Li Auto's lowest-priced model -- accounted for 45.97 percent of May deliveries.