Phate Zhang

Deutsche Bank analyst Edison Yu's team lowered their price target on Xpeng by $2 to $53, taking into account slightly lower expected sales.

The project has a planned capacity of 12 GWh, with a construction cycle of about 24 months, and is expected to start trial production by the end of 2023.

Dismissing an offer or laying off employees is normal for a company, but in China, things get delicate when it comes to groups that are considered disadvantaged.

To date, Zeekr has received nearly 15,000 cumulative orders for home charger installations, it said.

Hengchi 5's scheduled June 22 mass production date has been adjusted to September 20.

At press time, Nio was down 5 percent in Hong Kong, ending a four-day winning streak. Xpeng was down 5.24 percent and Li Auto was down 2.39 percent.

This is the first lithium supply contract BYD has secured after its strategic stake in Shenzhen Chengxin, which is expected to give it a more stable supply of raw material.

The recent decline in income for some residents following the Covid outbreak has led to an impact on consumption, and the contraction in demand has trickled down to the auto market, the CPCA said.

China is in talks with automakers to extend EV subsidies that were set to expire in 2022, aiming to maintain growth in a key market amid a broader economic slowdown, Reuters said.

Eve Energy plans to invest RMB 3 billion ($444 million) in a 10 GWh power battery project in Yunnan.