Phate Zhang

A shipping document posted on Reddit shows that Nio sent a total of 40 tons of cargo to the United States, sparking speculation that the Chinese electric car maker may be setting up a showroom in the country.

Chinese electric vehicle maker Li Auto reported revenue of RMB 4.15 billion yuan in the fourth quarter of 2020, above market expectations of RMB 3.793 billion and up 65.2 percent from RMB 2.51 billion in the previous quarter.

Hefei is home to Nio China's headquarters, and Nio's cars are currently produced at a manufacturing base jointly built by the company and JAC Motors.

Shanghai, the city where Tesla's Gigafactory in China is located, is further increasing its support for new energy vehicles.

Li Auto has recently launched an all-electric vehicle program, with the first product scheduled for release in 2023, Chinese media outlet LatePost reported Wednesday.

Nio Capital is a private equity investment institution with RMB 10 billion funds under management.

At a time of fragile market sentiment, investors are anticipating good news from the fourth quarter earnings report.

Xpeng Motors holder Shanghai Cheyou offers 10.5 million ADR via Goldman Sachs as the 180-day lock-up period on shares of the company expired February 22, according to Bloomberg.

At press time, Nio was down 10 percent to $45.59. Between February 10 and Monday, Nio accumulated a 19 percent decline.

"As the sales network continues to expand, we expect the new forces' deliveries to remain at a high growth rate," the report said.