Phate Zhang

The updated Yuan Plus has a starting price of RMB 119,800, or about $16,650. The model is available in several overseas markets under the Atto 3 name.

Those who have been looking to buy a Model Y lately can wait a little while, as Alps' first model is certainly cheaper, said Nio's William Li.

Nio Capital-backed EV-Tech and Nio will jointly develop products based on Nio's STEM Young high-voltage architecture, with deliveries to the Nio brand and Nio's second brand expected to begin in 2025.

These discounts are a continuation of the February offer, bringing the G6's starting price down to RMB 189,900.

The new Aion Y Plus starts at RMB 99,800, RMB 20,000 lower than the previous entry-level price.

Nio's latest NOP+ could be used outside of Greater China, further demonstrating its algorithm's ability to adapt to different traffic rules and driving scenarios, Morgan Stanley said.

The Leapmotor C10's official pricing is significantly lower than it was at pre-sale, and updated versions of existing models see price cuts across the board.

The financing will be used for next-generation model development, smart driving technology development and entry into overseas markets.

Li Auto reiterated the company's confidence that the Li Mega will be the top seller in the car market with a price tag of more than RMB 500,000 yuan.

BYD saw a drop in NEV sales in February as the New Year holiday brought disruptions.