Phate Zhang

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.

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.