Phate Zhang

December sales of emerging carmakers including Nio, Li Auto, WM Motor, Xpeng Motors, Hozon Auto, and Leap Motor also performed well year-on-year, the CPCA said.

Nio's ADR is now trading up 12.95 percent in Frankfurt, Germany, after the company unveiled its first sedan, the ET7, over the weekend.

The candidate also needed to be familiar with Chinese consumer tastes and be able to bridge the cultural differences between the US and China.

CICC believes that the new products and services announced at the event exceeded market expectations and will also have a positive impact on the company's operations and share price.

Geely will support Baidu with technology, production capacity, engineering, manufacturing, and quality control, and the new company will also use Geely's supply chain procurement system.

CATL, China's largest automotive lithium-ion battery maker, may be the supplier of Nio's solid-state battery, China Securities Journal said Monday, citing an unnamed source.

William Li Bin said it is cost-effective and will be able to save Nio a lot of cost per year after eliminating this interface.

The newly formed automaker, with its name still unknown, will target the passenger car market and will focus on the entire industry chain of smart car design and development, manufacturing, and sales and service.

Previous report said the new car is likely to be positioned as a compact two-seater sedan with a body chassis based on the Model 3, while the guidance price will be kept between RMB 150,000 - RMB 200,000.

The center screen navigation map shown at the launch of Nio's first sedan, ET7, revealed the information of Nio entering overseas markets.