Phate Zhang

This is Nio's first second-generation battery swap station in Yantai and is the result of a partnership with furniture retail giant and real estate conglomerate Red Star Macalline Group.

The latest news "reaffirms our belief China EV stocks could be one of the best relative safe havens for growth investors," Yu's team said.

The Model Y Long Range starting price was adjusted to $53,990, up $1,000 from the previous $52,990, information on Tesla's official website shows.

Shares of Xpeng Motors traded in Hong Kong opened 4.76 percent higher to HK$169.50 on Thursday, surpassing the issue price of HK$165 for the first time since it went public in Hong Kong.

Nio sent the first ES8 vehicles from Shanghai Waigaoqiao Port to Norway on July 20, the company said Thursday.

Evergrande Auto surged in Hong Kong on Thursday as its parent company's debt problems eased and Faraday Future (FF), in which it has a stake, is set to go public in the US.

Car-making startups with a strong focus on software has become targets for traditional car companies to poach talents.

Whenever Tesla starts offering lower-priced models in China, there is always talk of the doom and gloom for China's new carmakers. In the analysts' view, this is overblown.

The focus on chip companies for carmakers has never been stronger, and an affiliate of Nio has taken a stake in a Chinese chip company, further expanding its circle of friends in the field.

Central China's Hunan province has become the first province in the country to be allowed to pilot full-field low-altitude flights, CCTV said in a brief report on July 17, citing China's National Civil Aviation Administration.