EV Industry

In the past week, the HiPhi Y received 2,000 firm orders and more than 50,000 purchase intentions, a HiPhi executive said.

Lotus delivered the first Eletre EVs with digital rearview mirrors to owners on July 21 at its plant in Wuhan, Hubei province in central China.

In the first two weeks of July, China's NEV penetration at retail stood at 38.9 percent, with year-to-date penetration at 32.8 percent.

HoloMatic expects its losses to narrow dramatically by 2024 and to break even by 2025, when it will apply for a stock market listing.

A total of 13 percent of NEVs were equipped with more advanced L2+ driver assistance systems, with Li Auto and Nio contributing about half of that total.

The HiPhi Y, which starts at just RMB 1,000 more than the Nio ES6 but far less than HiPhi's other two models, is trying to get a piece of the mainstream premium EV market.

In the first week of July, China's NEV penetration at retail stood at 36.5 percent, with year-to-date penetration at 32.55 percent.

Nio sold 54,561 units in the January-June period, placing it in 10th place with a 1.8 percent share in the first half of the year.

In the first half of the year, China's NEV sales amounted to 3,745,000 units, contributing 28.3 percent of all vehicle sales.

PHEVs sold a record 217,000 units at retail in June, contributing 32.6 percent of NEV retail sales and up 100.2 percent year-on-year.