Phate Zhang

Several offline BYD dealership stores in Europe will open in the fall, and the first vehicles are expected to be delivered starting in the fourth quarter, BYD said.

The HiPhi Z with futuristic design is available in five-seat and four-seat versions with starting prices of RMB 610,000 ($88,800) and 630,000 respectively.

In addition to Zeekr, the Huawei-backed AITO brand will also be one of the first to use the Qilin Battery.

For Nio, it will see greater competitiveness in Europe than in China, said Qin Lihong.

China and the US signed an agreement on audit regulation and will launch the cooperation in the near future, according to a statement.

Hong Kong's Financial Reporting Council said it supports mutual cross-border cooperation and will provide all necessary assistance and make appropriate arrangements within its mandate.

Toyota will launch an electric sedan called the bZ3 in China in which the battery and the motor are supplied by BYD.

Nio delivered 25,059 vehicles in the second quarter, above the upper end of its previous guidance range of 23,000-25,000 vehicles.

Nio announced today that its internal review of previous short-selling allegations is now substantially complete, concluding that the allegations have not been substantiated.

Nio will allow consumers to lock in their orders for the ET5 starting September 9, with first deliveries taking place on September 30.