Phate Zhang

The production cut is aimed at addressing weakening demand for Tesla's aged model in China, Reuters said.

BYD will launch its fifth-generation DM (Dual Mode) hybrid technology on May 28, which is expected to give vehicles a range of up to 2,000 km on a full tank of fuel and a full charge.

The Nio House in Amsterdam is Nio's second in the Netherlands and seventh in Europe.

William Li said that Nio plans to continue expanding in Europe despite tariff uncertainties in the European Union, and that many of the complaints raised by the EU do not make sense.

Xiaomi EV will challenge a delivery target of 120,000 units for the full year 2024, implying a 20 percent increase from the previous target of 100,000 units.

Tesla's Shanghai Megafactory is expected to go into production in the first quarter of 2025, with Megapack production of up to 10,000 units per year and nearly 40 GWh of energy storage, Tom Zhu said.

Nio delivered 30,053 vehicles in the first quarter, hitting its lowered guidance of about 30,000.

Nio said it hopes to use the partnership to promote exchanges with local young scholars, apply for European research programs, and conduct joint product development and testing.

FAW Group becomes the seventh to join the Nio-led battery swap alliance after GAC Group, Changan Automobile, Geely Holding, Chery, JAC and Lotus.

The first model from Xpeng's Mona sub-brand will be unveiled in June and will go on sale and start deliveries in the third quarter.