Phate Zhang

The Model Y contributed 79.01 percent of Tesla's retail sales in China in August and 71.42 percent in January-August.

The ET5 Touring contributed 21.12 percent of Nio's deliveries in August with 4,083 units. The regular ET5 contributed 14.91 percent with 2,882 units.

Tesla's share of the Chinese BEV market was 13.18 percent in August, up from 7.46 percent in July.

Li Auto has formed certain goals for the project and will see phased results next year, according to local media.

Battery-grade lithium carbonate prices are still sinking, but lithium suppliers have begun to cut production and the market is looking forward to the September-October demand season, TrendForce said.

CATL is ranked No. 1 with a value of RMB 1.04 trillion, Nio is No. 8 with RMB 140 billion. BYD is No. 2 and Li Auto is No. 3.

Lucid has a team in China exploring the viability of entering the market, though there's no specific timeline yet.

The Seal is the sixth model BYD has launched in Brazil after the Tang EV, Han EV, Yuan Plus EV, Song Plus DM-i, and Dolphin EV.

The Seal DM-i is another attractive option for the mainstream mid- to high-end plug-in hybrid market in China, with the official prices reduced by RMB 10,000 from pre-sale.

William Li said the openness and fierce competition in the Chinese market were key to the rapid adoption of EVs, implicitly blaming US protectionism.