Phate Zhang

China's top CICC raised its price target on local power battery giant CATL after the company announced Monday that it has extended its battery supply agreement with Tesla.

The current Nio OS update is based on version 2.0, but the latest news indicates that the next major update to the system is coming soon.

"I'm convinced another electric vehicle (EV) company will eventually displace Tesla as the biggest manufacturer of EVs in China. I'm talking about Nio, Inc. (Nio)."

June 28 marks the third anniversary since the start of the service of Nio Power, Nio's energy services system, and Nio lists the milestones in the service's history in an article published today.

CATL signed an agreement with Tesla to supply lithium-ion power battery products to it from January 2022 to December 2025.

The team raises their 2025E NEV forecast from 6.6m to 8.3m units, representing about 35% penetration.

As of 2 pm local time Monday, Xpeng recorded a margin subscription of HK$2.32 billion.

Chinese electric vehicle company Nio will hold an Nio Power Day event in Shanghai on July 9, according to an invitation sent to CnEVPost.

The EP9 set a new lap record at the Zhejiang International Circuit with a time of 01:26.180, about six seconds ahead of the previous record of the 1st place holder, Mercedes-AMG GT Black Series (Cup2R).

Nio is currently considering upgrades to its existing models based on its first-generation platform, including 5G support and cockpit upgrade, and hopes to have an answer soon.