Phate Zhang

Nio will not launch models priced below RMB 300,000 ($46,460) in the short term, Qin Lihong said, adding that if a low-end product is launched in the future, it will perhaps be sold under a sub-brand.

Xpeng Motors has been more than 5 times oversubscribed after launching its Hong Kong public offering for subscriptions on Friday.

Xpeng Motor set the final offering price for both its international offering and its Hong Kong public offering at HK$165 per Class A common share, the Chinese electric vehicle company said Wednesday.

As part of preparations for the ET7's production, Nio has added more than 110 robots to its first factory, bringing the total number of robots at the plant to more than 800.

Nio announced that 11 new battery swap stations went into operation in China today, the most in a single day.

Xpeng hinted that the model will be available in more colors, similar to what many Chinese smartphone manufacturers are doing now, and is expected to win over more young consumers.

Citi raised its price target on Nio by 23.5 percent, citing expectations for strong growth in the company's shipments.

Xpeng Motors has guided its Hong Kong listing pricing at HK$165 per share, Bloomberg reported Wednesday. That sits below the company's previously announced maximum offering price of HK$180.

Chinese electric vehicle company Nio saw five of its battery swap stations go into operation in Shanghai on Tuesday, the most the company has deployed in a single city in China in a single day.

As the G3i, a facelift of its compact SUV G3, gets closer to launch, Xpeng Motors has released more information about the vehicle.