Phate Zhang

Chinese electric vehicle maker Nio said today it entered into an agreement to purchase 3.305% of Nio China's stake for RMB 5.5 billion from two of the minority strategic investors that invested in Nio China in April 2020.

Nio announced on Thursday that it entered into an agreement with the municipal government of Hefei, Anhui province, where Nio China's headquarters is located, to jointly build a “world-class” smart electric vehicle industrial campus.

It has an initial planned annual capacity of 10,000 Superchargers and is primarily a V3 charging pile, which is Tesla's most advanced charging pile to date.

Chinese automaker BYD sold 20,178 new energy vehicles in January, up 182.88 percent year-on-year, but down 30 percent from 28,841 vehicles in December.

Huawei and BAIC New Energy's jointly-built model will be announced in April this year and launched in November, cls.cn quoted BAIC New Energy sources as saying.

Under the agreement, Nio will receive support from Red Star for the construction and operation of the stations in 2021.

Xpeng's January shipments reached a record 6,015 units, a 470% year-on-year jump, which Credit Suisse said reflects Xpeng's improved shipment capacity, newly introduced smart systems, ability to expand its brand and marketing efforts.

These technologies include high-voltage platforms and ultra-fast charging technologies, autonomous driving technologies and next-generation smart cabin technologies, the company said.

Li Auto in January delivered 5,379 units of the Li ONE, its only model, up 355.8 percent year-on-year but was down 12% from December's 6,126 units.

Deutsche Bank analysts led by Edison Yu initiated coverage on Li Auto with a Hold rating and a price target of $35, representing an 8.5 percent upside potential from Friday's close.