Phate Zhang

Xpeng will open up the MPV market to a younger demographic with the X9, said He Xiaopeng, chairman and CEO of the EV maker.

The Baojun Yep is available in two versions, with the pricier one equipped with a smart driving system developed by SAIC-GM-Wuling with drone maker DJI.

The launch of the new ES6 has triggered rare reactions from several of Nio's local counterparts, highlighting the fierce competition in China's EV market.

Deliveries of the new ES6 began in 13 regions on the night of its launch on May 24, although Nio officially announced that deliveries would begin on May 25.

Nio has produced a batch of the new ES6 and deliveries will begin on May 25. Deliveries of customized vehicles will begin in mid-June.

"Xpeng delivered even softer 1Q23 results than we previewed, accompanied by a muted 2Q outlook," Edison Yu's team said.

Including the battery, the new ES6 has a starting price of RMB 368,000 ($52,220) and the 150-kWh semi-solid-state battery pack will be available in July.

Xpeng reported a negative 2.5 percent vehicle margin for the first quarter, a decline attributed to increased sales promotions and the expiration of the NEV subsidy.

BYD has been using blade batteries in its full line of passenger cars and released a bus chassis platform using blade batteries in September last year.

Some auto bloggers on Weibo said Nio is gearing up for deliveries of the new ES6, which could start even as soon as the launch event is over.