Phate Zhang

The brand's official launch is expected in the first quarter of 2023, when its first hardcore off-road model will be unveiled.

Li Auto with 2,224 units, Xpeng with 1,115 units, Zeekr with 2,308 units and Neta with 1,896 units.

"Our gross margin is meaningfully higher as we believe Nio will recognize the majority of its regulatory credit sales in 3Q, similar to last year," writes Deutsche Bank analyst Edison Yu's team.

Tesla delivered 17,200 vehicles to local Chinese consumers in October. The company produces new vehicles in the first half of each quarter primarily for export.

Nvidia said Monday it will launch the A800 chip in China, which complies with recent US export control regulations.

This appears to be the latest move by Tesla to boost sales in the fourth quarter after it cut prices in China late last month.

Chinese cars are affordable, while Western manufacturers can't offer enough electric vehicles, Fitch Solutions said.

Rumors that Xpeng may launch extended-range electric vehicles (EREVs) festered on Chinese social media over the weekend, and the company's co-founder denied it.

Nio previously announced goals to have more than 1,300 battery swap stations and more than 6,000 supercharging piles in China by the end of 2022.

Berkshire sold these shares on November 1 to cash out HK$560 million, reducing its stake in BYD to 17.92 percent.