Industry News
Shanghai will start phased resumption of businesses from May 16
Shopping centers, department stores, supermarkets, convenience stores and other commercial outlets will be gradually resuming offline operations in an orderly manner.
WM Motor delivers 3,309 vehicles in April, down 40% from March
Supply chains across China are in disruption because of the Covid outbreak, and WM Motor's manufacturing sites in Wenzhou and Huanggang have inevitably been affected, it said.
Further Reading: A panoramic view of China's automotive supply chain
This is the best analysis we have seen of the Chinese automotive supply chain and what impact Covid has had.
China to issue new policies to boost car consumption in rural areas as soon as this month, report says
A new round of policies to boost auto consumption in rural areas will be released soon, possibly as soon as this month, Cailian reported.
China's passenger vehicle retail sales drop 21% year-on-year in first week of May, CPCA data show
China's NEV supply is expected to improve significantly in May compared to April, with retail sales of NEVs expected to show high growth compared to April, the CPCA said.
HiPhi sells 316 units in April, down 31% from March
HiPhi X has accumulated nearly 6,000 deliveries and sold at an average price of nearly RMB 700,000 ($103,950), it said.
China's April NEV sales at 299,000 units, down 38% from March, CAAM data show
Compared to the NEV market, China's overall auto market performed worse in April, with sales down 47.1 percent from March.
EV stocks soar in Hong Kong as broader market recovers
As of press time, Nio was up 5.29 percent, Xpeng was up 5.79 percent, Li Auto was up 9.88 percent and BYD was up 6.05 percent.
China's wholesale sales of passenger NEVs in April falls 38.5% from March, CPCA data show
The penetration of NEVs in wholesale sales in April was 29.6 percent, up from 25.1 percent in March.
EV stocks plunge in Hong Kong as overall market moves lower
It's another sell-off unrelated to the fundamentals of these companies, as investors worry about the prospect of aggressive interest rate hikes by the Federal Reserve.