Phate Zhang

For 2020, WM Motor's full-year sales reached 22,495 units, up 33.3 percent year-on-year.

A recent report showed that Nio and Xpeng are tied for first place with 13 financing events each in China's new energy vehicle industry over the past decade, out of a total of 897 financing events.

A large number of vehicles are parked at the Tesla Shanghai Gigafactory, as shown in images posted by Twitter user @ray4tesla, who said that it looks like Giga Shanghai is churning out more Model Ys than Model 3s.

On the Nio App, a user asked which class of luxury cars such as BMW, Mercedes-Benz, and Audi the sedan would target, and Nio co-founder and president Qin Lihong responded: BMW7.

The China-made Model Y is price-competitive, but the new energy vehicle market is not a zero-sum game, said CICC.

BYD Auto recently unveiled a new brand logo, turning the previously used red BYD logo into a more metallic silver gray color.

Referring to LiDAR, Nio co-founder and president Qin Lihong said, "Our mission is to find a LiDAR that is better than Luminar's and earlier in mass production."

Chinese electric car company Xpeng Motors (NYSE: XPEV) saw its December deliveries reached a record high of 5,700 units, up 326 percent year-on-year, the company said Monday.

This business has undergone six months of trial operation, and Nio will invest RMB 3 billion ($460 million) to promote its development.

"We are quite confident to respond to this price cut by our competitor on New Year's Day, without even having an internal conference call."