Phate Zhang

In terms of penetration, new registrations of NEVs in Shanghai contributed 53 percent of all new vehicle registrations in 2022.

The model, likely to be named Zeekr 003, is expected to target a price range of RMB 150,000 ($22,110) - 200,000 yuan and is expected to help Zeekr reach its goal of doubling annual sales.

The policy was first released in Shanghai last May and was valid until the end of 2022.

Xpeng had a series of moves to grow in Europe in early 2022, but those efforts came to a halt at the end of June last year with the suspension of P5 reservations.

A facelift of the Xpeng P7 is expected to debut in March, the new SUV G7 is expected to be unveiled at the Shanghai auto show, and an MPV model is scheduled to begin mass production in September, according to local media.

Auto dealers' sales pace was disrupted in January due to the impact of the Covid infection wave and the early timing of the Chinese New Year, the CPCA said.

City NOA capabilities that enable end-to-end training without relying on high-precision maps will be available by the end of 2023 and will be an important starting point for Software 2.0's transformation of the physical world, said Li Auto's CEO.

Xpeng is expected to launch facelifted versions of three existing models, the P7, G3 and P5, as well as two new models, including a coupe SUV and an MPV.

Nio vehicles registered 2,818 and 2,963 insurance units in China in the first two weeks of January, respectively.

In the meantime, ARKQ has also sold its shares of Xpeng three times this month and now holds about $3.77 million worth of the company's stock.