Phate Zhang

In the past four months alone, Nio's deliveries reached 32,522 vehicles, comparable to BMW's NEV sales in the first nine months.

In the first nine months, China's power battery installed base was 92.0 GWh, up 169.1 percent year-on-year, with ternary batteries still taking the lion's share.

Leapmotor was founded in 2015 and aims to gain a 10 percent market share of China's new energy vehicle market by 2025.

The investment will be used to build a site to recycle used battery materials and produce materials including lithium iron phosphate.

Sales of pure electric vehicles reached 296,000 units, up 1.5 times year-on-year.

China-made Tesla vehicles sold 52,153 units in China in September, compared to 3,853 units exported.

Wholesale sales of new energy passenger vehicles in China reached 355,000 units in September, the second month in a row to exceed 300,000 units.

CITIC Securities believes that the low- and mid-end EV market is highly competitive, while the high-end market in which Nio is present has fewer players and huge room for growth.

The sales figure should include Nio's vehicles, which sold a record 10,628 units in September.

The crash occurred on August 12, 2020, when the owner was driving a Model 3 that crashed into a dozen cars before coming to a stop.