Phate Zhang

China's July auto sales are estimated at 1.82 million units, down 9.7 percent from June and 13.8 percent from a year ago, data released Wednesday by the China Association of Automobile Manufacturers showed.

Li Auto received a margin subscription of HK$1.697 billion today, which represents an oversubscription of about 13 percent, considering that its public offering will raise about HK$1.5 billion.

Nio has denied the rumors that it will launch a new model called ES7 next year.

Li Auto on Tuesday announced the launch of a global offering of 100 million shares of its Class A common stock, including a public offering of 10 million shares in Hong Kong and an international offering of 90 million shares.

Nio will start mass production of a model called ES7 in June 2022, under the previously revealed project codenamed Gemini, mydrivers.com reported Monday.

The floods in Germany this year affected the supply of air suspension shock absorbers, thus affecting Nio's production capacity this month.

Nio delivered 7,931 vehicles in July, up 124.48 percent year-over-year and down about 2 percent from June.

Xpeng Motors delivered 8,040 vehicles in July, its highest monthly delivery record, up 228 percent year-over-year and up 22 percent from June.

Neta Automobile said Sunday it delivered a record 6,011 units in July, surpassing 6,000 for the first time and up 392 percent from a year earlier.

Li Auto delivered 8,589 units of the Li ONE in July, the first time deliveries exceeded 8,000 units in a single month.