Phate Zhang

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.

Li Auto had 12,300 insurance registrations last week, Xpeng 6,300, Zeekr 6,000, Leapmotor 8,500 and Aito 7,200.

SAIC-GM-Wuling has entered into a partnership with CATL to use the latter's Choco-SEB battery swap solution in the logistics vehicle segment.

Nio hopes to enter more than 90 percent of overseas markets in the next five to ten years.

In the third quarter, Xiaomi's innovative business, which includes EVs, had a gross margin of 17.1 percent and an average vehicle sales price of RMB 238,650.

Onvo aims to have at least 500 stores by March next year and 800-1,000 by the end of 2025, according to local media.