Phate Zhang

China will further stabilize market expectations, optimize the consumption environment, and release the consumption potential of NEVs to a greater extent, the meeting also mentioned.

China is considering extending the tax exemption for NEVs priced below 300,000 yuan for another four years to spur consumer demand, Bloomberg reported.

From January to May, the Qin family models sold 171,534 units and the Song family sold 216,625 units.

Nio said it plans to launch a new NT 2.0-based model, the ET5 Touring, which will be delivered to customers starting in June.

Xpeng expects the G6 to be one of the most popular and best-selling models in the Chinese NEV SUV market, with a price range of RMB 200,000 to RMB 300,000.

This sets the stage for Li Auto to surpass its revenue goal of RMB 100 billion in 2023, the company said.

The G6 needs to be successful for Xpeng to be truly relevant to the market again, Deutsche Bank analyst Edison Yu's team said earlier this week.

Musk arrived in Shanghai from Beijing yesterday evening and toured the Tesla Shanghai factory overnight.

The Nio ET5 wait time has changed from 2-3 weeks to about 3 weeks, the EC7 from 5-7 weeks to about 5 weeks, and the ES7 from about 4 weeks to about 3 weeks.

Former Xpeng Internet center vice general manager Liu Fanfan has joined Nio as head of the navigation and location services division, according to local media.