Phate Zhang

The first Firefly model has seen a design freeze in late June and is expected to enter the mold development phase in early August, allaying employee fears that the project could be scrapped, according to local media.

The last such event, Nio Day 2022, was held in Hefei, Anhui province on December 24, when the EC7 and the new ES8 were launched.

Nio, Aulton and Botan have the largest number of battery swap stations in China, with shares of 68 percent, 27 percent and 5 percent respectively at the end of June.

The document lists 10 measures, three of which are directly related to support for the NEV sector, and specifically mentions support for the battery swap model.

CATL asked cathode material suppliers in early July to offer a 5 percent to 10 percent discount in settling lithium carbonate prices, according to local media.

SAIC and Audi believe that China's auto market is undergoing an unprecedented and dramatic transformation, and will therefore further deepen their strategic cooperation.

Aggressive infrastructure plans will continue, car sales are picking up, but the 150-kWh battery pack will probably be slightly delayed again.

Nio is hosting a new Nio Power Day event, the EV maker's third annual presentation on its power-up system.

Leapmotor is set to become the first Chinese car-making startup to license EV technology to an overseas company once the deal is finalized.

Pacific Securities has a buy rating on Nio's Hong Kong-traded shares, with a target price of HK$103.62, implying an upside of 26.14 percent.