Phate Zhang

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.

With the price of battery-grade lithium carbonate falling back to around RMB 300,000 per ton, the cost advantage of sodium batteries is seen as no longer prominent.

In the first four weeks of May, retail sales of all passenger vehicles in China were 1,392,000 units, up 19 percent year-on-year but down 6 percent from the same period last month, according to the CPCA.

Nio is more likely to announce plans for its sub-brands than new Nio-brand models on Nio Day 2023.

With margins and cash burn looking worse following first-quarter earnings, Xpeng management may be making its last stand with the G6, Deutsche Bank said.

Tesla opposes decoupling and is willing to continue to expand its business in China and share in China's development opportunities, Musk said.

Nio has produced some new ES6 vehicles based on designer-recommended configuration combinations, and deliveries of customized vehicles will begin in mid-June.

Nio's cumulative sales so far this month were around 5,300 units, with the company launching and starting deliveries of the new ES6 on May 24.