Phate Zhang

Li Auto's management believes China's NEV penetration will reach 90 percent by 2028, when it will need to sell at least 3 million vehicles annually if it is to become one of the top five players, according to local media.

Haomo unveiled three ADAS kits priced as low as $410 and not relying on high-definition maps to capitalize on the opportunity presented by smart driving features that will cover the vast majority of new cars over the next two years.

During the third quarter, Tesla delivered 139,624 vehicles in China, accounting for 32.1 percent of its global deliveries of 435,059 vehicles.

Three days ago, on October 8, wait times for four of Nio's least expensive models were all reduced to 2-3 weeks.

WM Motor still has commercial value and some of its creditors are willing to reorganize, it said.

Xpeng emphasized that the move does not affect businesses including commerce and production. The company fell more than 10 percent in the US on Monday.

Most of last week was covered by China's long National Day holiday -- which ran from September 29 to October 6.

Nio CEO William Li told CnEVPost last month that every RMB 50,000 drop in the price of lithium carbonate would result in roughly a 1.5 percent improvement in gross margin for the company.

The Hyper SSR is offered in three versions and deliveries were made to the first owners today.

Nio took four years to deliver its first 10 million battery swap service and nine months to achieve its second 10 million. Its third 10 million service took six months.