Phate Zhang

“While new launches should boost wholesale volume, we would monitor whether it could spark another round of price competition,” Morgan Stanley said.

Six companies, including CATL, BYD, FAW, SAIC, WeLion and Geely, may receive basic government R&D support, according to China Daily.

The Seal 06 DM-i and Qin L DM-i are the first two models to feature BYD's fifth-generation DM technology, both available in five variants and with a price range of RMB 99,800 ($13,770) to RMB 139,800.

BYD's fifth-generation DM technology allows the vehicle to consume as low as 2.9 liters of fuel per 100 kilometers at low charge, with a combined range of up to 2,100 kilometers.

During the May 1-26 period, insurance registrations for Nio vehicles were 15,400, Tesla 43,900, BYD 209,900 and Xiaomi 6,700.

Deliveries of the Neta L have been delayed as 95 percent of customers opted for the highest priced variant.

Xpeng management said earlier this month that Mona's first model will be unveiled in June and will go on sale and begin deliveries in the third quarter.

Xiaomi has added CATL batteries to the standard variant of the SU7 instead of just BYD batteries as it did earlier to boost capacity.

Chinese customers who complete their vehicle deliveries between May 25 and June 30 will have the chance to win a free tour of Tesla's Fremont factory in the US.

The two companies have agreed to engage in a comprehensive strategic partnership from 2025-2034, with Neta making CATL its preferred partner for vehicle power batteries.