Phate Zhang

In June, SAIC's NEV sales accounted for 18.88 percent of total sales. The company aims to increase that share to at least 32 percent by 2025.

Although JAC did not specify, its EV sales should include Nio vehicles that it manufactures on its behalf.

Huawei's Richard Yu says extended-range technology is the most appropriate solution available right now; Great Wall Motor's Wey brand CEO executive disagrees.

BYD and Tesla have earned 1.66 million credits and 1.4 million credits in 2021, valued at about RMB 3.46 billion and RMB 2.93 billion, respectively.

In the meantime, stocks in the NEV industry chain in China's A-share market soared, with Gotion High-tech up 7.26 percent and CATL up 4.86 percent.

The Hengchi 5 offers a competitive price, though a question mark remains as to whether consumers will buy it, given Evergrande's debt concerns.

The first of the measures, developed by 17 government departments, is to support the purchase and use of NEVs.

Solid-state batteries with a range of more than 1,000 kilometers, developed by the two companies, will be the first to be installed in a new SAIC-owned model next year.

When demand is high enough, Nio could consider building dedicated battery swap stations for other brands, which could significantly reduce costs, according to Qin Lihong.

Of these, 8.1 million are pure electric vehicles, accounting for 80.93 percent of the total number of NEVs.