Phate Zhang

Each year Nio issues a brooch to its employees to mark Nio's growth, and this year's theme is Hello Norway.

The joint venture will build a smart battery swap ecosystem based on in-house developed technology to provide competitive products and services, said Geely.

CATL's current facility near Tesla's Giga Shanghai is primarily being used to assemble battery modules, while a new facility is under construction, according to local media.

Rox Motor received $100 million in financing in late 2021, with Tencent's investment amounting to more than $50 million, according to local media.

Industry sources said that carmakers can integrate insurance services and sales by setting up their own insurance business, which can also maintain a closer relationship with users.

Hozon is seeking to raise about $500 million ahead of a potential Hong Kong IPO this year, valuing it at RMB 450 ($7.1 billion), Bloomberg reports.

The team said Nio is a first mover in the premium electric vehicle market and is bullish on its potential for intelligence and the expansion of its user base with lower-priced products.

Nio recently incorporated an insurance brokerage company in Hefei, Anhui Province, where its China headquarters is located.

The team expects Xpeng's sales to reach 190,000 units in 2022 and 550,000 units in 2025 with a 7 percent market share in China.

To date, Nio has opened a cumulative total of 19 power supply lines under the Power Up Plan.