Phate Zhang

By Thursday's close, Nio's $46.03 stock price had essentially regained the $46.11 level it opened at on March 2, forming a perfect V-shape.

The analyst said Nio "is a leader and innovator in the premium automotive EV segment; it is domiciled in China, the largest and most prolific EV market globally."

Even though the potential partnership between Nio and fossil fuel energy giant Sinopec has yet to be announced, leading Chinese securities media are already envisioning the prospect of Nio vehicles being able to change batteries at gas stations.

Deutsche Bank analysts reduced their price target on Xpeng Motors by $7 to $48, mostly to account for downward re-rating in the peer group.

Li Auto, taking a page from Tesla, is giving its chairman and CEO Li Xiang options to purchase 108,557,400 Class B ordinary shares based on his performances.

They each aim to sell at least 5% of their enlarged share capital in Hong Kong. Based on their New York market capitalization on Monday, proceeds could total around $5 billion.

January-February is traditionally a slow period for the Chinese auto industry.

"Don't be surprised to see Nio at Sinopec's gas stations in the future, the partnership between the two is approaching!" Shanghai Securities News said in a report today.

Geely Auto Group's new energy and electrified vehicles sold 6,828 units in the first two months of the year, down 63.78 percent from 11,183 in the same period last year.

Xpeng expects to deliver approximately 12,500 vehicles in the first quarter and expects first-quarter revenue of about RMB 2.6 billion.