Phate Zhang

The pre-sale price of the Hengchi 5 has not been fully determined and is expected to be around RMB 200,000 yuan ($29,880), with the first production run of about 10,000 units, according to local media.

Changan EV becomes the latest after Ora to stop taking orders for its low-priced hot-selling model as raw material prices continue to rise.

This is BYD's sixth production site in China and currently produces the Qin Plus DM-i and core components including the engine and motor.

Nio is up 3.26 percent in Hong Kong as of this writing. It closed down 11.26 percent in Hong Kong yesterday, the biggest one-day drop since May 6.

Sales of major Chinese automakers' NEVs grew at a rapid pace in June, with retail sales expected to approach 500,000 units, the CPCA said.

Xpeng G9 will be the best SUV within RMB 500,000 ($74,550), said the company's chairman and CEO, He Xiaopeng.

The project, with a design capacity of 150,000 vehicles per year, is scheduled to start production by the end of 2024.

Nio fell 7.67 percent to S$21.9 before trading was suspended in Singapore. Its trading resumed at around 13:30 and the drop extended to 8.73 percent by press time.

Sunwoda plans to issue GDRs and have them listed on the SIX Swiss Exchange/London Stock Exchange. In March, Gotion High-tech announced a similar plan.

At press time, Nio was down 5.62 percent in Hong Kong, Xpeng was down 5.77 percent and Li Auto was down 3.98 percent.