Phate Zhang

In the first four weeks of May, retail sales of all passenger vehicles in China were 1,392,000 units, up 19 percent year-on-year but down 6 percent from the same period last month, according to the CPCA.

Nio is more likely to announce plans for its sub-brands than new Nio-brand models on Nio Day 2023.

With margins and cash burn looking worse following first-quarter earnings, Xpeng management may be making its last stand with the G6, Deutsche Bank said.

Tesla opposes decoupling and is willing to continue to expand its business in China and share in China's development opportunities, Musk said.

Nio has produced some new ES6 vehicles based on designer-recommended configuration combinations, and deliveries of customized vehicles will begin in mid-June.

Nio's cumulative sales so far this month were around 5,300 units, with the company launching and starting deliveries of the new ES6 on May 24.

China has always been welcoming visits by business people from various countries, including Mr. Musk, to better understand China and promote mutually beneficial cooperation, the Chinese Foreign Ministry said.

Most of the 500 EVs to be delivered to Blue Bird this year will be filled by BYD, particularly the E6 and T3 models, an executive with the Indonesian company said.

Musk is expected to meet with senior Chinese officials and tour Tesla's Shanghai factory, according to Reuters.

Nio is aiming to add 1,000 battery swap stations this year, and to make up for the lack of capacity, it decided to build a new plant in Hefei to produce them, an executive said.