Phate Zhang

The Maextro S800 is expected to target the luxury executive sedan market, with potential rivals set to include the Mercedes-Benz S-Class, BMW 7 Series, Audi A8, and Nio ET9.

Xiaomi's second EV model is scheduled to hit the market in February or March next year, internally codenamed MX11, and will compete directly with the Tesla Model Y, according to local media.

Great Wall Motor will become the latest to adopt Huawei's smart driving system after BYD, and its first model to feature the system will be the Tank 700 Hi4-T off-road SUV, according to local media.

Deutsche Bank raised its sales forecast for Nio Inc in 2025, using the same 450,000 full-year 2025 sales assumption as the company's guidance.

Firefly is positioned in the boutique compact car market and leverages existing sales channels to drive growth, Nio said in a statement.

Nio is confident of doubling sales next year and aims to be profitable by 2026. The third brand is officially named Firefly and its first model will begin deliveries in the first half of 2025.

Nio reported weaker-than-expected revenue in the third quarter, which was also below its guidance range. It reported a net loss that was flat from the second quarter, with gross margin improving to 10.7 percent.

China's export growth for BEVs is expected to slow to 9 percent this year, with its contribution to passenger car exports falling to 19.0 percent in 2024 from 22.5 percent in 2023, Canalys said.

CATL is in talks to set up a battery recycling business in Europe, discussing possible plant sites with European governments including Hungary, according to Bloomberg.

Xpeng reported revenue of RMB 10.1 billion in the third quarter, with a record gross margin of 15.3 percent, beating analysts' expectations.