Phate Zhang

A tender announcement issued half a month ago by Nio's OEM JAC was widely reported in the Chinese auto media today, sparking speculation that the electric carmaker will launch an entry-level model.

New energy vehicle credit policy is a key weapon in China's push to transition the sector to electrification, forcing higher costs on slow movers and rewarding first movers.

Seres said Tuesday that the Seres SF5 will be delivered to their first owners on May 29.

State-owned Xinhua News Agency made a site visit to Nio's factory in Hefei and published an article titled "The future is here - A visit to Nio."

The current trading price per unit of the new energy credits has risen from an initial RMB 300 ($47)-RMB 500 to RMB 2,500-RMB 3,000, an increase of up to 9 times.

FAW-Volkswagen had planned to produce about 610,000 vehicles in the second quarter of this year, but due to chip shortages, it is expected to produce only 400,000 vehicles, a cut of about 30 percent, yicai.com reported Monday.

At a time when Tesla is in the spotlight due to continued reports of vehicle accidents, one of its main competitors in the Chinese market, Nio, has been involved in what appears to be a similar incident.

JAC will expand its annual production capacity to 240,000 units in order to meet the growing demand for Nio vehicles, the company said in a statement.

OPPO announced Monday that it has completed joint development and testing with Nio for a CCC 2.0-based digital car key, a feature that will be available in the Wallet App for OPPO phones and watches in the future.

Chinese electric car company BYD recently announced that it has won an order for 50 pure electric buses from the city of Turin, Italy. This is the largest ever tender for purely electric buses in the region, and the customer is BYD's long-time customer Turin Transit Group (GTT).