Phate Zhang

BYD is feeling increasing competitive pressure from rivals such as Geely and Leapmotor, Reuters said.

Since its launch on August 19, the Model Y L has received 120,000 orders, averaging nearly 10,000 daily, according to a local media report.

Seventy-five percent of the raised funds, or RMB 1.95 billion, will be allocated to developing new EV models and upgrading existing ones.

The all-solid-state battery cells achieve an energy density of up to 300 Wh/kg or 700 Wh/L.

Nio aims to deliver 150,000 vehicles in the fourth quarter, averaging 50,000 deliveries per month.

Nio posted a net loss of RMB 4.99 billion ($697 million) in the second quarter, its smallest since the fourth quarter of 2023.

In January-August, Tesla China sold 515,552 vehicles, including exports to overseas markets, representing a 12.24 percent year-on-year decline.

Onvo's registrations last week totaled 3,673 units, down 10.50 percent from the previous week's 4,104 units. Both Nio and Firefly brands saw growth.

The all-new Smart #2 will be produced in China and launched in China, Europe, and other overseas markets.

GWM's overseas sales reached 45,166 units in August, accounting for 39.09 percent of its monthly sales.