Phate Zhang

Nio today announced that starting prices for all new models are reduced by RMB 30,000 ($4,200) starting June 12, and makes the battery swap service optional.

BYD will set up a joint venture with a local conglomerate to build a sodium-ion battery production base in Xuzhou, Jiangsu province.

The ES6 is called the EL6 in Europe because of Audi's trademark lawsuit.

The launch event of the ET5 Touring will start at 19:00 Beijing time on June 15. Show cars are already available in Nio stores and deliveries in China will start on June 16.

Tesla ranked third in the CPCA's NEV retail sales rankings, with BYD and GAC Aion in first and second place with 38.1 percent and 7.8 percent shares, respectively.

Nio reported weak first-quarter underlying results but showed surprising Opex discipline to start the year and also presented a better-than-feared outlook for second-quarter sales, Edison Yu's team said.

Nio is confident it will see sales of more than 20,000 units per month in the second half of the year, but its goal of achieving profitability in the fourth quarter may have to be delayed, its management said.

Nio and Xpeng both saw net losses in the first quarter, while Li Auto posted net income.

Nio guided for second quarter vehicle deliveries to be between 23,000 and 25,000 units, meaning it expects June deliveries to be in the range of 10,187-12,187 units.

Xpeng's stock traded in Hong Kong continues to rally after the announcement of the G6's pre-sale price, currently up about 5 percent.