Phate Zhang

In the first three quarters of 2024, Chery achieved a net income of RMB 11.3 billion, up 58.5 percent year-on-year.

The SU7 Ultra starts at RMB 529,900 ($72,930), 34.97 percent lower than Xiaomi's previously marketed pre-sales price.

The SU7 Ultra, which starts at RMB 529,900 ($72,930), is Xiaomi's new luxury car for this era, the ultimate "Dream Car," said its CEO.

By the end of 2024, the SU7 had accumulated more than 248,000 locked-in orders in just nine months since its launch, Xiaomi CEO Lei Jun said.

Li Auto delivered 158,696 vehicles in the fourth quarter, below the lower end of its guidance range of 160,000 to 170,000 units.

In the UAE, a single battery swap service costs AED 119 ($32) for a 100-kWh battery pack and AED 99 for a 75-kWh pack.

There have been frequent cases of LFP producers receiving large orders, and some of the big players are raising prices.

As Nio's car sales rise, battery swap services are expected to see rapid growth, analysts said.

Nio has built its first battery swap station in the MENA region and the facility is expected to be operational on Thursday.

Tiangong 05 sedan offers 62 kWh, 85 kWh battery pack options, with CLTC range of up to 750 km.