Phate Zhang

Firefly uses safer, higher-performance liquid-cooled battery packs, while CATL employs air-cooled packs primarily targeting the ride-hailing market, Li said.

The Aion UT Super starts at RMB 89,900 ($12,630) including the battery pack, or RMB 49,900 under a battery rental plan.

The new Model Y variant starts at RMB 288,500 ($40,500) and boasts an 821-km CLTC range, with estimated delivery times of 2-4 weeks.

The Leapmotor Lafa 5 will be officially launched on November 28, competing against models including the Volkswagen ID.3, SAIC MG4, and Nio's Firefly EV.

"Other companies in the West are weak," Musk said.

China's market regulator is discussing how to define false marketing, with a crackdown on exaggerated and false marketing in the auto industry likely next.

The Mona M03 contributed 42.14 percent of Xpeng's deliveries in the first nine months of this year.

Firefly is deepening its market penetration in Europe, North America, and Asia, it said, revealing for the first time its market expansion efforts will include North America.

The X9 EREV marks Xpeng's first hybrid car, with the company planning to introduce more such models to target higher sales.

Representatives from several Chinese automakers visited CATL headquarters to secure battery capacity before the rollback of NEV purchase tax incentive.