Phate Zhang

Bridgewater reduced its holdings in Nio by 40.53 percent, Xpeng by 25.98 percent and Li Auto by 54.69 percent in the first quarter.

Renaissance reduced its position in Nio by 0.16 percent, Xpeng by 98.88 percent and Li Auto by 20.44 percent during the first quarter.

Shanghai will further deepen its cooperation with Tesla to promote the EV maker's businesses including self-driving and robotics in the city, a local official said.

Baillie Gifford trimmed its holdings in Nio and Tesla by 0.77 percent and 2.83 percent, respectively, in the first quarter, but the value of its holdings in them rose.

The recall involves the vehicles' regenerative braking strategy, which Tesla plans to update via OTA to reduce the risk of crashes due to prolonged deep pressing of the accelerator pedal.

Battery grade lithium carbonate rose 7.61 percent in China today, and industrial grade lithium carbonate rose 13.25 percent, both the largest single-day gains of this year.

Chinese consumers' intent to buy NEVs continues to rise, further squeezing the share of the fuel vehicle market, according to JD Power.

Nio delivered 31,041 vehicles in the first quarter, slightly above the lower end of its guidance range of 31,000 to 33,000 vehicles.

One possibility is that Nio may price the new ES6 at under RMB 368,000 and attribute the decision to the calls of its community.

SAIC-GM-Wuling is allowing consumers to pay only for the vehicle body and rent the battery when they buy the Mini EV, lowering the purchase threshold to RMB 19,800 ($2,860).