EV Industry

In the January-October period, BYD was No. 1 with a 36 percent share, Tesla was No. 2 with 7.8 percent and Nio was No. 9 with 2.1 percent.

Excluding exports, China's NEV sales in October were a record 832,000 units, up 2.9 percent from September.

China's NEV penetration rate at retail was 37.8 percent in October, up from 36.9 percent in September.

Saudi PIF could invest at least $250 million in Human Horizons at a valuation of $3 billion, and a deal could be reached as early as this year, according to Bloomberg.

China's passenger NEV penetration at retail stood at 37.7 percent in October, up from 36.9 percent in September.

China's October wholesale sales of passenger NEVs are expected to be 890,000 units, up 32 percent year-on-year and up 7 percent from September, the CPCA said.

The Jiyue 01 is larger and less expensive than the Tesla Model Y, while leveraging Baidu's capabilities on cockpit intelligence as well as smart driving to provide additional appeal.

The penetration rate of NEVs at retail in October is expected to be around 37.1 percent, up from 36.9 percent in September.

China's retail penetration of NEVs was 38.9 percent in the October 1-22 period.

Rumors on Chinese social media said HiPhi will lay off up to 20 percent of its workforce and up to 50 percent in some divisions.