Phate Zhang

Previously, a team of Chinese analysts expected the steady-state monthly sales of BYD Seal to exceed 30,000 units.

Nio has confirmed that it will hold an online product launch on June 15, which will be the company's first online launch of new products.

The first phase of the park is scheduled to be completed in the first half of 2023 and will have an annual capacity of 300,000 tons of aluminum die-casting.

Previously BYD has made a strategic investment in another Chinese lithium producer, Chengxin Lithium, and signed a lithium procurement contract with it.

Tesla's Shanghai plant produced 33,544 vehicles in May, with 22,340 of those vehicles being exported.

The Nio ET7 ranked ninth in China's top premium sedan sales in May, moving up one spot from its first full delivery month in April.

CATL and BYD's share of the China power battery market returned to their respective normal levels in May, after a Covid disruption in April narrowed their gap significantly.

This comes seven months after Tesla installed its 30,000th Supercharger worldwide.

China's auto industry as a whole still reported lower sales in May compared to a year ago, despite an improvement from April.

A series of catalysts are driving BYD's rally, with its shares up about 50 percent cumulatively since May 10.