Phate Zhang

Nio vehicles sold for an average of RMB 413,300 ($60,700) in January, higher than BMW's RMB 399,400 and Lexus' RMB 390,600 in China.

Nio's 150-kWh pack will initially be available for lease only, with a buyout option to be offered in the future.

Nio has entered into strategic partnerships with highway authorities in Anhui, Zhejiang and Jiangsu in the more economically developed Yangtze River Delta region of China.

China's auto industry is facing big challenges in the first quarter and still needs policy support, the CAAM said.

China has tightened its regulations on NEV production qualifications since 2017, and the production qualifications Xpeng has received are among the very few.

The wait time for the model remains the same as before at 2-5 weeks, and pricing and specifications for the rest of the Model Y variants and Model 3 in China remain unchanged.

Tesla Model Y retail sales in China were 14,184 units in January, while Model 3 sales were 12,659 units.

The Nio ET5 sold 5,795 units at retail in January, while the ET7 retailed 521 units in January and failed to make the list.

Leapmotor announced that it is entering the dual-power era, with all new models to be offered in both BEV and EREV versions going forward.

Deutsche Bank expects the latest round of price cuts to spur a big rebound in EV orders, with at least eight automakers already offering some type of price discount or promotion so far.