EV Industry

Major automakers including BYD, Tesla, Nio, and Li Auto were relatively unaffected, as they all have a certain level of order backlog, according to CICC.

This is another major adjustment to the Covid control policy since China began implementing strict Class A infectious disease prevention and control measures on January 20, 2020.

In terms of retail sales, China's NEV penetration rate is expected to be about 31.8 percent in December, lower than the 32.3 percent in November.

The HiPhi Z coupe has a starting price of RMB 610,000, with the first production cars rolling off the production line on December 20.

Lucid's website has opened up 14 jobs in China, all of them based in Shanghai, in areas including hardware engineering, supply chain and retail.

To date, Shenzhen has 740,000 NEVs. The city plans to have that number reach 1.3 million by 2025.

China has essentially abandoned the ZERO-Covid policy, making it possible for such large events to be held.

Enovate will form a joint venture with Saudi Arabia's Sumou Holding to build a production and R&D base in Saudi Arabia with an annual capacity of about 100,000 NEVs.

BYD's power battery installation volume in November was 8.94 GWh, ranking second with a 26.09 percent share.

China's NEV penetration rate was 33.8 percent in November, a new all-time record, the CAAM data show.