Phate Zhang

In terms of wholesale sales, China's new energy passenger vehicle penetration rate reached a record 30.1 percent in August, the first time it exceeded 30 percent.

Tesla China exported 42,463 vehicles in August, the highest since production began at Tesla's Shanghai plant. This means Chinese consumers received deliveries of 34,502 vehicles.

BYD's plant is expected to start operations in 2024 and the vehicles will be exported to ASEAN countries and Europe.

The financing will be used to support the 2024 debut of ClearMotion's fully active suspension CM1, which eliminates the sway in the car that disrupts the ride.

Xpeng and Li Auto are currently in a period of transition between old and new products, and sales performance will be under pressure in the near term, according to a local analyst.

The earnings report represents the final reset of numbers before the long-awaited product supercycle takes off and Nio can finally demonstrate the power of its brand and ecosystem.

Nio expects record deliveries in each month of the fourth quarter, while mass production of the 150-kWh pack will be delayed by several months.

CATL has moved up the mass production shipments of the Qilin Battery to the end of this year instead of the previously mentioned 2023, according to local media.

Nio's guidance of 31,000-33,000 vehicle deliveries for the third quarter means it expects September deliveries of 10,271 to 12,271.

This would include 6.99 million BEVs and 3.37 million PHEVs, according to a team of local analysts.