Phate Zhang

Tesla's California plant has an annual capacity of 650,000 units, while its Berlin and Texas plants both have an annual capacity of more than 250,000 units.

In June and July, Nio stores saw significant increases in traffic and orders, making it difficult to meet delivery demand, according to an executive at the EV maker.

As a comparison, China's NEV penetration rate was 24 percent in the first half of the year.

Sinopec aims to reach 5,000 charging and battery swap stations by 2025.

The battery swap station is the first to be built since Nio entered into a partnership with the Shangri-La Group and is located in the parking lot of a Shangri-La hotel in Beijing.

To date, Nio has 75 battery swap stations and 114 charging stations in Beijing.

High oil prices are helping NEVs replace ICE vehicles, and the latter have more raw material costs including copper and aluminum.

Deliveries of the Nio ET5 are expected to begin in September, and the model's first tooling trial builds rolled off the production line at the end of April.

The Nio ET7 owner experienced a flat tire on the way and also had the battery swapped in Lhasa.

China's NEV sales in June exceeded expectations and hit a record high, but recently the market began to worry about weakening demand in the first two weeks of July.