Rising prices of memory chips and raw materials could lead to a cost increase of nearly 10,000 yuan ($1,460) for premium EV models, William Li said.

Domestic NEV sales plunge over 36% year-on-year, dragged by the traditional low season and additional purchase tax costs.

If executed, it would mark the first executive share buyback since the company's secondary listing in Hong Kong in August 2021.

After the Chinese New Year holiday ended in late February, new orders for the ES8 have recovered well, Nio president said.

The For Me is now on display at all Lotus stores across China, with official market launch and deliveries expected to begin by the end of March.

The pre-sales price of the Chery QQ3 starts at 68,920 yuan ($10,020), with orders reaching 21,957 units in the first 2 hours.

Nio shares surged 14.80% in Hong Kong after the company posted its first-ever quarterly profit since inception.

BYD is considering entering competitive motorsports, including F1 and endurance racing, to boost its global brand appeal, Bloomberg reported.

Shenji's second chip, targeting a broader customer base, has successfully completed tape-out and is currently in mass production.

William Li receives 248 million restricted share units tied to specific performance targets and continued service.