Phate Zhang

Rumors have recently surfaced that China's subsidies for NEVs may be renewed, but the amount will be only 50 percent of what it was in 2022.

"We think a large part of the rally was caused by a short squeeze as investors were caught being too negative on the group given Covid and competition concerns," said Deutsche Bank analyst Edison Yu's team.

The BYD Seagull, which is expected to be launched in the second quarter of 2023, will be the first model with sodium-ion batteries and is expected to be priced as low as about $8,484, according to local media.

Xpeng delivered better-than-expected third-quarter operating results, accompanied by a slightly better-than-feared outlook.

Xpeng expects fourth-quarter deliveries of 20,000 to 21,000 units, possibly suggesting that its December deliveries are expected to rebound to around 10,000 units.

This is due to Xpeng's recent organizational restructuring and personal matters, the company said in an announcement.

As of today, Nio's battery swap station network has completed its initial coverage of all districts in Shanghai.

Morgan Stanley sees the price of lithium carbonate in China falling to $47,500 per ton in the second half of 2023, implying a 35 percent drop from the current spot.

Previously released data has shown that Li Auto delivered 26,524 vehicles in the third quarter, below the guidance range of 27,000 to 29,000 vehicles.

Nio vehicles registered 3,759 insurance units in the fourth week of November, compared to 2,852, 3,124 and 3,325 units in the previous three weeks.