Phate Zhang

Factors including the devaluation of the RMB, lower raw material prices in China and higher auto prices in the US have made Chinese exports to the US potentially cost-competitive.

The accident killed two people and injured three others. Tesla said the accelerator pedal was depressed throughout the accident.

CalPERS increased its position in Nio by 18.2 percent and its position in Li Auto by 21.05 percent in the third quarter.

Berkshire Hathaway's stake in BYD fell to 16.62 percent from 17.92 percent.

At press time, Nio extended gains in Hong Kong to 16.49 percent to HK$81.95, Xpeng rose 9.52 percent to HK$28.75 and Li Auto rose 10,51 percent to HK$71.

The market value of Bridgewater's holdings in Nio decreased by 22.58 percent during the third quarter, while its holdings in Xpeng and Li Auto decreased by 62.31 percent and 39.77 percent, respectively.

Nio will launch five models in the first half of next year, and by June there will be a total of eight available models.

Nio reported mostly soft 3Q results, especially on margin, but provided a better than-feared 4Q volume outlook.

Nio's fourth-quarter delivery guidance of 43,000 to 48,000 units means it expects cumulative deliveries in November and December to reach 32,941 to 37,941 units.

The 2022 Beijing auto show was scheduled to take place from April 21 to April 30, but was postponed in early April.