Phate Zhang

Nio may be facing a talent loss, but its autonomous driving team is expected to be led solely by Ren Shaoqing, allowing for more streamlined management.

Nio is in talks with several other automakers about licensing battery swap technology, the Financial Times reports.

Wood said there is a huge opportunity consistent with common prosperity, but until things improve significantly, her holdings in China stocks will be relatively low.

The vehicle pilot center will support the fast development and high-quality launch of Nio's new products, the company said.

A Denza executive expects this year to be the first year that China's mid- to high-end MPV market will see explosive growth.

"Looking ahead, we could envision a re-rating upward of China EV stocks given the large discount relative to US peers," said Deutsche Bank analyst Edison Yu's team.

Nio has extended its gains to 13.5 percent, a new high since it went public in Hong Kong. Xpeng and Li Auto are both up over 10 percent.

"Fitch believes the prospects for China's EV market are bright, given still-strong demand," the credit rating firm said.

Edison Yu's team does not expect raw material price increases to have a materially negative impact on EV demand, considering that many ICE vehicle prices are also rising.

The BYD Song family sold 26,729 units in March, and the Qin family 24,797 units.