Phate Zhang

Xpeng's new sports sedan, the P7i, launched for the China market in March, generated favorable market reception and its order backlog is gathering strong momentum, it said.

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

Li also said that Tesla's price cut comes after it faced stiff competition in China, where it does not have pricing power.

Nio ET7 deliveries in Europe began last October, and EL7 deliveries there began at the end of January.

Li Auto delivered 52,584 vehicles in the first quarter, slightly above the lower end of the previous guidance range of 52,000 to 55,000 vehicles.

Xpeng's XNGP system will enable full-scenario ADAS from start to stop when the full rollout is completed in 2024, it said.

Up to 70 percent of Nio's owners are in China's tier 1 and tier 2 cities, and the company wants to leverage battery swap stations to reach out to less-developed tier 3 and tier 4 cities.

Elon Musk last visited China in January 2020, when he showed off a dance during a delivery ceremony for Tesla's first China-made Model 3 vehicles.

Tesla's poster mentions "Supercharging," suggesting that the product could be its latest charging device.

Nio and Li Auto's mobile apps have been featuring pretty girls significantly more often lately, while Xpeng is running a campaign to encourage users to share such content on its app.