Phate Zhang

The Leapmotor C10 is available in both EREV and BEV versions, with pre-sale prices roughly half that of Li Auto's Li L7 EREV.

BYD ranks No. 1, Tesla No. 2, and Nio No. 9 in terms of NEV market share in China in 2023.

Yangwang U7 will have more than 1,000 horsepower and will push the limits of sedan performance, Yangwang said.

Nio has no new models in the first three quarters of 2024, sales growth is likely to be low, and it may need to offer price discounts for its existing models amid stiff competition, BofA said.

In the letter, Li laid out his views on the competition in the EV industry in 2024, as well as Nio's priorities.

U Power said its UP Super Board can cut development time by at least six months, ultimately reducing the cost and time to market of EV products.

Alps is targeting the family car market priced between RMB 200,000 ($28,000) and RMB 300,000, according to local media.

Nio needs to continue to improve its financial performance to support the company's sustainable growth, and has a responsibility and obligation to put every penny of investor and shareholder money to good use, Li said.

Insurance registrations for major EV makers in China fell significantly last week, as the beginning of the year and the start of the month are typically low for deliveries.

The facilities allow vehicles to charge during low electricity use and discharge during peak times, helping to smooth the load on the grid and provide financial rewards for vehicle owners.