Phate Zhang

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.

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.