Phate Zhang

Nio Day 2025 will be held in Hangzhou on September 20, where the third-generation Nio ES8 SUV will be officially launched.

For industry demand, achieving even half of this year's fourth-quarter levels in the first quarter of next year would be a positive outcome, Li said.

Nio has confirmed for the first time that the company works with McLaren and has received technical service revenue from the automaker.

BYD is feeling increasing competitive pressure from rivals such as Geely and Leapmotor, Reuters said.

Since its launch on August 19, the Model Y L has received 120,000 orders, averaging nearly 10,000 daily, according to a local media report.

Seventy-five percent of the raised funds, or RMB 1.95 billion, will be allocated to developing new EV models and upgrading existing ones.

The all-solid-state battery cells achieve an energy density of up to 300 Wh/kg or 700 Wh/L.

Nio aims to deliver 150,000 vehicles in the fourth quarter, averaging 50,000 deliveries per month.

Nio posted a net loss of RMB 4.99 billion ($697 million) in the second quarter, its smallest since the fourth quarter of 2023.

In January-August, Tesla China sold 515,552 vehicles, including exports to overseas markets, representing a 12.24 percent year-on-year decline.