Phate Zhang

As demand in the power and energy storage battery markets cools, cell makers have adjusted their capacity utilization rates downward to reduce inventory.

Tesla sold 82,432 China-made vehicles in November, up 14.31 percent from 72,115 in October, ending the previous two months of sequential declines.

Nio's annual event, Nio Day, is expected to take place at the end of this month.

China has imposed restrictions on car production over the past decade amid concerns about overcapacity. Nio had previously been producing cars under JAC's qualification.

As JAC's deal to sell its factory assets comes to a deadline, rumors that Nio will buy them and announce its own car-making qualifications are circulating widely on Chinese social media.

The Yangwang brand sold 408 vehicles in November, while Fang Cheng Bao sold 626 vehicles.

In November, BYD sold 30,629 NEVs in overseas markets, essentially flat from October but a new record.

The two will build luxury smart connected EVs based on Huawei's smart car solutions, with product development under the overall responsibility of JAC.

At the end of November, Nio's year-to-date deliveries stood at 142,026 units, up 33.14 percent year-on-year.

Xpeng's year-to-date deliveries reached 121,486 units, up 10.98 percent year-on-year, surpassing last year's full-year deliveries.