Phate Zhang

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.

Xpeng's first-quarter revenue beat Wall Street estimates, gross margin rebounded further to a new high since the third-quarter of 2022, despite conservative guidance for second-quarter deliveries.

Between May 1-19, Nio had 10,000 insurance registrations, Tesla 30,800, BYD 154,900, Xiaomi 4,000, Li Auto 18,600, and Xpeng 4,800 units.

Li Auto's BEV endeavors appear to be facing structural challenges as transferring its EREV success to BEV is not so straightforward, Deutsche Bank said.

Xpeng will spend RMB 3.5 billion ($480 million) in 2024 on R&D of AI technology around smart driving and recruit 4,000 new professionals.

Li Auto said it won't release any all-electric SUVs this year; they'll be released in the first half of next year. It said in its last earnings call that it would release three all-electric SUVs in the second half of 2024.

Li Auto guides for second-quarter vehicle deliveries to be in the range of 105,000 to 110,000, meaning it expects to deliver a total of 79,213 to 84,213 vehicles in May and June.

SAIC and Audi are combining their resources to jointly develop a series of EV models, with the first product expected to go on sale in 2025.

At the end of 2023, Nio was taking about 295 days to clear receipts payable, and Xpeng 221 days, compared with 197 days and 179 days, respectively, in 2021, according to Bloomberg.