Saudi Arabia's sovereign wealth fund in talks to invest in Chinese EV maker Human Horizons, report says
Saudi PIF could invest at least $250 million in Human Horizons at a valuation of $3 billion, and a deal could be reached as early as this year, according to Bloomberg.
Lithium carbonate prices keep falling as supply-demand imbalance fears persist
The average price of battery-grade lithium carbonate in China is falling close to RMB 150,000 per ton, about half of what it was at the end of June, as supply-demand imbalances continue.
Xpeng Q3 earnings preview: In-line results expected, margins likely to beat
"In light of China's EV market remaining ultra competitive for the foreseeable future, Xpeng's strategy continues to resonate well with us, making the stock our Top Pick in the group," Deutsche Bank said.
Shanghai to start pilot operation of autonomous buses in downtown area
Shanghai has opened a total of 926 roads for autonomous driving tests, with a total mileage of 1,800 kilometers.
Tesla to raise Model 3, Model Y prices in China on Nov 9
Tesla will raise the prices of the long-range versions of the Model 3 and Model Y in China on Thursday, November 9, local media quoted the company as saying.
Chinese shipbuilder starts work on vehicle carrier for BYD
Guangzhou Shipyard has begun construction on the first of 2 vehicle carriers for BYD, capable of carrying up to 7,000 vehicles.
Nio gives over 230,000 sales forecasts for 2024 to supply chain, Xpeng 280,000, Li Auto 800,000, report says
Automakers usually provide high forecasts to their supply chain, while suppliers make their own judgments based on the competitiveness of the vehicle models and the operating results of the car companies.
China EV insurance registrations for week ending Nov 5: Nio 4,200, Xpeng 4,700, Li Auto 8,600, Tesla 14,000
Nio's insurance registrations were down 8.7 percent last week compared to the previous week, Xpeng was down 18.97 percent and Li Auto was down 14 percent as deliveries are usually slow at the beginning of the month.
Tesla teases upcoming Model Y price hike in China
Tesla plans to raise the prices of the cheaper versions of the Model Y in China, as a continuation of the price hike it put on the crossover's most expensive version in the country late last month.
Nio's job cut could save up to RMB 2 billion per year, says Deutsche Bank
"While management still has a long way to go in restoring creditability among investors, this should be viewed as a meaningful step in the right direction," Edison Yu's team said.