GAC New Energy changes its name to GAC Aion, may operate independently
GAC New Energy will formally announce the Aion brand at the Guangzhou Auto Show and announce the independence of GAC Aion, the company's source said.
BYD to launch 'fuel sedan disruptor' on November 20
BYD will unveil the Qin Plus, which the company is calling a "fuel sedan disruptor," at the 18th Guangzhou Auto Show on November 20.
Tesla establishes auto sales and service company in Nio's home turf
On November 12, Tesla Motors Sales & Service (Hefei) Co., Ltd. was established in Hefei, Anhui Province, where Nio China is headquartered.
Nio founder says Tesla's price cuts won't have much impact on the EV maker
"The market is big enough," Li said, noting that their main competitors should be fuel cars.
Nio conference call: Operating cash flow to turn positive in 2020, monthly capacity to go up to 7,500 units in Jan
Nio again achieved positive operating cash flow in the third quarter and is confident that it can turn cash flow from operating activities positive for the full year 2020 overall, the EV maker's founder William Li Bin said during the third quarter 2020 quarterly conference call.
Nio is working on its fifth new car, with its fourth model to be unveiled in Jan
Although Nio's fourth model won't be released until January, the company is already talking about a successor to the model.
Nio Q3 revenue up 146.4% year-on-year to $666.6 million, beating estimates
Chinese EV maker Nio's Q3 revenue rose 146.4% year-on-year to RMB 4.53 billion ($66.6 million), beating market expectations of RMB 4.38 billion.
Hillhouse Capital, which liquidated Nio at its lowest point, re-bought big in Q3
As of September 30, Hillhouse Capital owned 2,411,000 shares of Nio stock worth $51.17 million.
CICC raises Li Auto price target by 86% to $40
Chinese investment bank CICC raised its price target on Li Auto by 86% to $40, which corresponds to 28% upside potential in the current share price, and maintained its Outperform rating, citing Li Auto's strong cost control and efficient operations.
Nio founder explains for first time why he chose high-end positioning
In the high-end auto market, well-known brands are no longer at the helm of the founders and are in professional manager mode.