Phate Zhang

Zeekr is seeking an $18 billion valuation in a planned US IPO, though investors believe that's higher than they expected, according to local media.

Wang Xing, CEO of Meituan, cashed in about HK$311 million last week in four consecutive sell-offs of Li Auto's Hong Kong-traded shares.

Between September 1 and September 17, Li Auto was 20,100, Nio was 9,900 and Xpeng was 6,900.

Nio will hold a launch event on September 21 from 11 am to 12 pm Beijing time to unveil a new mobile internet product, and it's expected to be its first phone.

Nio seeks to price its 2029 notes at a coupon rate of 3.5 percent to 4.0 percent and its 2030 notes at a coupon rate of 4.25 percent to 4.75 percent, according to Bloomberg.

Nio plans to use a portion of the net proceeds to repurchase certain existing debt securities, with the remainder to be used primarily to further strengthen its balance sheet position and for general corporate purposes.

Shenzhen-based Appotronics is betting big on the automotive business, hoping to take the smart EV experience to the next level.

The new EC6, like the ES6 and EC7, has an expected delivery time of 3-4 weeks, the shortest in Nio's product lineup.

Nio's in-house developed first-generation chips will be based on the 7 nm process and include a smart cockpit chip, an autonomous driving chip, and other chips including a CMOS image sensor chip, according to local media.

No one has really thought about how to design a phone around a car before, Li said.