Phate Zhang

The Nio App has stopped showing wait times for the EC6, potentially making way for a replacement model that will likely be called the EC7 that may be launched on Nio Day.

China has essentially abandoned the ZERO-Covid policy, making it possible for such large events to be held.

Delivery of Nio's 300,000th vehicle is expected to be around January 1, Qin said.

As of November 30, Nio's cumulative deliveries reached 273,741 units.

From January to November, Model Y retail sales in China increased 121.04 percent year-on-year, while Model 3 sales decreased 7.34 percent year-on-year.

Li previously said Nio will launch five models by the first half of next year, with a total of eight available models by June.

Nio officially opened its first Nio Space in the Westfield Täby Mall Centrum in the Swedish capital Stockholm on December 8.

The sharp decline in gross margin was due to a huge hit of $803 million from inventory provisioning and loss of purchase commitments related to the accelerated phase-out of Li ONE.

With the price range overlapping significantly with BYD's flagship SUV Tang in the Dynasty series, the Frigate 07 is expected to appeal to a younger demographic with a sleeker design.

The Model Y sold 52,424 retail units in China in November, more than four times as many as the second-place BMW X3.