Phate Zhang

Between November 1 and 19, Li Auto had 25,400 insurance registrations in China, Nio had 9,400, Xpeng had 10,400, Tesla had 39,300 and BYD had 129,700 units.

The tie-up comes after Nio basically pulled out of a joint venture with Changan, marking the first external partner for Nio's iconic energy replenishment network.

Shandong Weida was up 6 percent in Shenzhen at press time, and up about 20 percent over the past month.

Tesla has raised the Model Y Long Rang's starting price in China by RMB 2,000, the fourth price hike in the past month, although the moves are for different models.

For orders placed from November 21, the expected delivery lead time for the two lower-priced versions of the Bao 5 is around 4-6 weeks, while the highest-priced version will be delivered from January.

Nio will share its next-generation battery pack standard, the 800 V high-voltage, fast battery swap platform, with the entire industry, said William Li.

The first brand to partner with Nio on battery swap could be China FAW Group's high-end EV brand Hongqi, according to local media.

BYD began pre-sales of the Song L on October 31, with a price range of RMB 220,000 to RMB 280,000 for the pre-sale.

Nio will have heavyweight product and model launches at this year's Nio Day event, the company's president, Qin Lihong, said in an audio program.

"Nio will not go out of business, and there is absolutely no possibility of it going out of business," the company's president said in a speech.