Phate Zhang

G7 is the first model to feature Xpeng's Turing AI chip, with a pre-sales price of RMB 235,800 ($32,810).

The G7 is equipped with up to three Turing AI chips developed in-house by Xpeng, with computing power exceeding 2,200 TOPS.

Bagrin Angelov, who served as head of cross-border M&A at CICC for the past 10 years, has joined Nio as vice president of capital markets.

Tai 7 is expected to target a broader family user base with a larger size than Tai 3.

As of the end of May, Li Auto had delivered a cumulative total of 1,301,531 vehicles.

Nio said that it will continue to adhere to payment terms of 60 days or less, collaborating with partners to promote high-quality development of China's automotive industry.

The SU7 Ultra achieved a lap time of 7:04.957 on the Nürburgring circuit in Germany, surpassing the previous record of 7:07.55 set by the Porsche Taycan Turbo GT in September 2023.

China's major automakers and some new carmakers have pledged to shorten supplier payment terms amid concerns about supply chain security.

Two Firefly product managers have set off from Berlin, Germany, and will travel through seven countries: Germany, Denmark, the Netherlands, France, Spain, Italy, and Austria.

Tesla's market share in China's NEV market in May was higher than its 3.2 percent in April but lower than the 6.9 percent from the same period last year.