Phate Zhang

Nio has confirmed for the first time that the company works with McLaren and has received technical service revenue from the automaker.

BYD is feeling increasing competitive pressure from rivals such as Geely and Leapmotor, Reuters said.

Since its launch on August 19, the Model Y L has received 120,000 orders, averaging nearly 10,000 daily, according to a local media report.

Seventy-five percent of the raised funds, or RMB 1.95 billion, will be allocated to developing new EV models and upgrading existing ones.

The all-solid-state battery cells achieve an energy density of up to 300 Wh/kg or 700 Wh/L.

Nio aims to deliver 150,000 vehicles in the fourth quarter, averaging 50,000 deliveries per month.

Nio posted a net loss of RMB 4.99 billion ($697 million) in the second quarter, its smallest since the fourth quarter of 2023.

In January-August, Tesla China sold 515,552 vehicles, including exports to overseas markets, representing a 12.24 percent year-on-year decline.

Onvo's registrations last week totaled 3,673 units, down 10.50 percent from the previous week's 4,104 units. Both Nio and Firefly brands saw growth.

The all-new Smart #2 will be produced in China and launched in China, Europe, and other overseas markets.