Phate Zhang

Honor's CEO said new players are welcome and that the mobile industry needs fresh blood.

Nio opened up 6.9 percent, while Xpeng fell 2.51 percent and Li Auto dropped 2.48 percent.

Leapmotor plans to launch 1-3 new models each year in the next few years and a total of eight new models covering sedans, SUVs and MPVs by the end of 2025.

Neta, which sells most of its models for less than RMB 100,000, has raised the prices of its available models by RMB 3,000-5,000.

The plug-in hybrid Destroyer 05 is the first sedan in BYD's Ocean series, with a subsidized price range of RMB 119,800 ($18,880) - RMB 155,800.

The two sides plan to further strengthen communication and reach arrangements as soon as possible within a framework that is consistent with their respective laws.

This comes less than 20 days after Sunwoda made an announcement revealing its last 30 GWh battery project.

Xpeng scaled back its 3,000 kWh per year free charging entitlements to 1,000 kWh on August 1 of last year, and now they're getting scrapped altogether.

Xpeng is a strategic cornerstone funder as Rockets Capital closes its first round of funding for its inaugural US dollar fund, raising more than $200 million.

The price range for these budget models is RMB 29,900 - RMB 81,900, and the increase is close to 10 percent for several models.