Phate Zhang

Nio co-founder and president Qin Lihong attended the ribbon-cutting ceremony for the opening of the Nio House in the Netherlands.

This means Li Auto has seen more than 10,905 deliveries so far this month.

The upcoming G6 will need to be successful to make Xpeng to be truly relevant again in the market, said Edison Yu's team.

That will be achieved through new models, expanding the company's charging and battery swap network, and unlocking self-driving technology, the Nio CFO said.

BYD has asked some workers at its Xi'an plant to work only four days a week and shifts at its Shenzhen plant have been reduced from three shifts a day to two shifts a day, according to a report from Reuters.

Beijing is offering subsidies of up to RMB 10,000 for residents to purchase NEVs, while Xi'an is offering subsidies of up to RMB 6,000 for NEV purchases and RMB 10,000 for the installation of charging piles.

Deliveries of Zeekr's Zeekr 009 MPV, the world's first vehicle to be powered by the Qilin Battery, are expected to begin in the second quarter.

Last week's insurance registrations for NEVs were 112,650, up 4.53 percent from the previous week.

Li Auto leads the pack with superior execution, but risk-reward increasingly favors Xpeng and Nio after a drastic sell-off this year, Morgan Stanley said.

Nio's management previously said they expect lithium carbonate prices to fall back to RMB 200,000 per ton this year, boosting gross margins back up.