Phate Zhang

Months after BYD decided to increase its stake in Denza, its joint venture with Mercedes-Benz, to 90 percent, the brand is moving ahead at a rapid pace in its new product planning and offline store construction.

As of June 10, Nio had 964 battery swap stations in China, 247 of which are located along highways.

The model could be based on the Baojun KiWi EV and equipped with DJI's D80/D80+ smart driving system.

"We continue to believe Nio can exit 2022 at around a 25,000 monthly deliveries run-rate," said Edison Yu's team.

Nio plans to start delivering a model for the mass market in the second half of 2024, and the price of the model is in the range of RMB 200,000 to 300,000.

Nio refrained from raising vehicle selling prices in the face of rising raw material costs in the first quarter, which had a negative impact on gross margins.

Since production resumed in late April, Tesla Giga Shanghai has produced a cumulative total of more than 40,000 vehicles.

China's NEV industry has been hit by the current epidemic, but the year-on-year improvement has exceeded expectations, the CPCA said.

Tesla's Shanghai plant produced 33,544 vehicles in May, 22,340 of which were exported.

Jidu's first production model is positioned as a mid-size SUV that will be a generation ahead of Tesla in terms of intelligence, according to its CEO.